Price Analysis

Is Dogecoin Dead? Shiba INU(SHIB) Price to Toss-Off a Zero Before DOGE!

Author: Qadir AK

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Author

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

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Story Highlights
  • Dogecoin is struggling to maintain the gained levels above $0.08 while the biggest competitor Shiba INU registered a double-digit gain

  • While yet another token, claiming to be the novel DOGE killer- BONK also appears to get be knocked off

Shiba INU is coming out to be the biggest Dogecoin killer over time as the price has achieved significant highs in the past few days. The price with a more than 11% jump at the moment aims to recover 100% loss incurred due to the collapse of the FTX exchange. Now when the SHIB price is hovering very close to $0.0001 a clear pass-through appears to be imminent. 

Trading view

The SHIB price is testing the upper trend line that it followed for more than the past 6 months. During the previous attempt to slice through the trend line, the bulls put up a good fight, which reduced the bulls’ strength significantly. However, the present scenario is slightly different as the bullish pressure has accumulated due to which the price may remain elevated for a longer time frame. 

Therefore, the Shiba INU (SHIB) price may slice through the trend line and clear the resistance at $0.00001042 any moment from now. 

Is Dogecoin Dead? Why DOGE Price is Less Volatile?

Dogecoin recently bounced off from its lows below $0.07 and laid down a notable upswing thereafter. With the beginning of the 2023 trade, most of the altcoins raised as Bitcoin price marked highs beyond $19,000. However, the DOGE price remained consolidated and display no notable price action, excluding some minor spikes which were nullified by bearish actions. 

Trading View

Despite the lowered pace, the DOGE price managed to sustain within a bullish frame. The price rose beyond the ascending triangle and is undergoing a restest. An upcoming couple of hours is important for the popular meme coin as the bulls are required to jump in, raising the levels beyond the immediate resistance at $0.0867. Else a drop below the interim support at $0.0748 may be imminent. 

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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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