Price Analysis

What to Expect from the Memecoins Ahead of Monthly Close: Will Dogecoin & Shiba INU Price Leap Long

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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Jul 28, 2022

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Dogecoin (DOGE) Price Analysis

The Dogecoin price is among the asset which underwent a huge bull run in 2021 that ignited the 2021 bull rally later. Further, the asset dropped by more than 92% while all the attempts of a firm rebound went in vain. And hence considering the stagnant behaviour of the asset many believed Dogecoin to be dead at a certain point. 

However, in the past couple of months, the DOGE price has halted the descending trend by holding the lower support at $0.05. 

dogecoin

On the other hand, the crypto market sentiments witnessed a positive impact after the FED raised interest rates by 75bps. The asset raised by more than 11% in just a couple of hours and currently consolidating within narrow regions. The asset appears to be within the influence of the bulls and hence a notable upswing could be imminent. 

By the end of the monthly trade, the DOGE price may undergo an upswing of another 10% to 12% to regain the levels above $0.07. 

Shiba INU (SHIB) Price Analysis

Shiba INU‘s price is also on a significant bullish track as the prices are swinging within an ascending triangle. The asset ever since the huge drop in May 2022, has made ample attempts to regain the lost levels beyond $0.00001323. 

Moreover, after the recent rejection from the same levels, the asset appears to be poised to surpass the resistance on reaching the apex of the triangle. 

shibainu

The indicators are also pretty bullish for the SHIB price as the RSI is hovering within the middle bands and all set to rise high. While the bears appear to have no room as the MACD is bullish without any selling pressure. 

Therefore, the Shiba INU price in the coming days could rise high slowly yet steadily and eventually surpass the immediate resistance. Further, if the asset sustains above these levels, a significant upswing 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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