Price Analysis

Dogecoin & Shiba INU Surge High! These are the Targets for the Coming Weekend

Written by: Sahana Vibhute

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Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

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Aug 16, 2022

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The popular Memecoins of the crypto space have gained significant bullish momentum in the past couple of days, which has raised the price by a double-digit margin. Dogecoin’s (DOGE) price has risen by more than 20% while Shiba INU’s price has surged by more than 40% during the past weekend. 

Therefore, with the bullish start of the week, both DOGE & SHIB price is expected to surge by another 15% to reach the immediate resistance by the end of the week.

Dogecoin (DOGE) Price Analysis

Dogecoin price remained within narrow ranges ever since the markets dropped hard during May 2022. The asset had squeezed its volatility since the beginning of the month, while the past weekend induced huge bullish momentum. No doubt the asset underwent a notable correction further, since the early trading hours, the asset is undergoing a significant recovery. 

dogepp

The DOGE price with the recent price action broke above the ascending triangle and raised beyond the resistance. Further, the bears attempted to drag the price lower, but the resistance flipped to support levels holding the price amid the bearish trend. However, since the beginning of the early trading days, the bulls restored their positions and surged close to $0.09, but failed to surpass. 

However, with another leg up, the DOGE price could surge beyond $0.0932 and finally settle beyond $0.1 by the end of the monthly trade. 

Shiba INU (SHIB) Price Analysis

Shiba INU’s price witnessed a huge setback in the past couple of months, which began with the luna UST crisis in May. Since then the SHIB price failed to rebound and remained drained within a deep bearish well. While the price was expected to slide below $0.00001, a significant bullish momentum propelled the price towards highs beyond $0.000017. 

shibpp

The SHIB price broke above the immediate resistance at $0.00001323 during the weekend and raised to the highs. Despite the previous day’s correction, the asset is holding the lower support at $0.00001527. Hence a significant upswing appears to be imminent that may uplift the price beyond $0.00002 anytime in the coming week. 

However, the price target for the next fortnight remains just below $0.00003 around $0.000029 by the end of the monthly trade. 

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Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

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