Is This A Crucial Time To Hold DOGE And SHIB As Bearish Threats Intensify?

Meme Coins: DOGE and SHIB Face Bearish Pressures

Following a strong market surge, meme coins, including Dogecoin (DOGE) and Shiba Inu (SHIB), have experienced a bearish trend.

DOGE Price Analysis

DOGE has declined by 4.84% in the past 24 hours, with a negative price action over the past month. The EMA 50-day acts as a resistance, and the RSI indicates increased selling pressure.

Support: $0.1010
Resistance: $0.127
Potential downside target: $0.0780

SHIB Price Analysis

SHIB has also declined by 4.56% in the past day and has lost 15.16% over the past month. The MACD histogram is declining, and the SMA indicator suggests a potential bearish crossover.

Resistance: $0.0000170
Support: $0.00001175

Market Outlook

The recent market correction has impacted meme coins, and both DOGE and SHIB face bearish pressures. If support levels are breached, further declines are possible. However, a bullish reversal could lead to a retest of resistance levels. Investors should closely monitor price action and market sentiments for potential trading opportunities.