Price Analysis

A Local Pump Incoming For SHIB Price While DOGE Price At Best Entry Points!

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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Dec 13, 2021

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Highlights

    Shiba Inu price sustaining at the crucial zones from past couple of days pointing out towards a possible local pump incoming

    Dogecoin price is still hovering around one of the good entry zones and hence a notable buying pressure is expected to accumulate

The popular meme coins which are also termed as the tough competitors have set a notable plot to hit the immediate highs soon. While Shiba Inu price is accumulating gains, Dogecoin’s price has already reached the potential entry point. Therefore, in the next upcoming days, probably in the initial days of Q1 2022, both the tokens could gain extreme bullish momentum.

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SHIB price in the higher time frame is accumulating heavily around the support levels at $0.00003569 from the past week. And hence manifesting an immense potential to rally towards the next resistance levels. One of the popular analysts sets the target at $0.00005000 and later at $0.0000600 for the asset in the coming days. 

The chart posted by the analyst showcases the huge accumulation of the asset and hence he believes the asset could rebound any time from now. The main reason is, the short positions might have already been filled and it could be the time to long the asset. As previously, when long positions were shared, the asset rose like a monster from $0.0000100 to as high as $0.00008000 levels. And hence if the long trade is set up at present prices, then the chances of killing yet another zero are pretty high. 

Dogecoin Price Prepares For A Healthy Uptrend

Dogecoin has been one of the most fascinating trends ever in history. The level of impact it possesses keeps it out of the crowd. The asset holds the credit of laying the foundation of the 2021 bull run and may repeat the trend once again in the upcoming days. However, the bulls are required to immediately jump in as the DOGE price is hovering around a serious accumulation zone. 

Trading View
  • The asset is hovering around the support levels from quite a long time and trying hard to jump from the consolidation
  • Previously when the asset touched these levels, a huge buying volume mounted which uplifted the asset to a notable extent
  • However, the uptrend is yet again challenged by the bears but this time as the rebound initiates, it may quickly hit the 100-day MA levels at $0.2 and later break through the triangle after piercing through the 200-day MA levels around $0.26.

On the whole, Shiba INU price is all set to flip through the consolidation soon which could ignite a bull rally soon. Moreover, the Dogecoin price is also all set to follow the popular meme token to regain the lost momentum.

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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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