Dogecoin’s Bottom Could be In While Shiba Inu Flashes Bearish Signals; Should you Sell these Memecoins?

So, is it a good time to buy Dogecoin or sell Shiba Inu?

The Shiba Inu price has been maintaining a healthy upswing ever since it triggered a bullish rebound in the first few days of June. The price has been following a parabolic recovery since then and is approaching the neckline of the curve. However, to do so, the price could undergo a minor pullback to test the lower support below $0.00001.

This may further trigger a healthy rebound, as the price may certainly sustain within the curve and head forward. On the other hand, the Dogecoin price is displaying acute strength by maintaining a steep upswing. Although the volume remains largely depleted, buying pressure has accumulated, which may help the price maintain an ascending trend. Besides, the RSI is incremental and has yet to reach its upper resistance.

As seen in the above chart, the DOGE price is approaching the upper resistance of the descending parallel channel. A breakout from this pattern may confirm a rise above the bearish influence. However, the chances of a bearish reversal appear to be less at the moment, and hence a notable surge could be imminent. 

Collectively, the memcoins have gained significant attention in recent times with their growing volume. Therefore, Dogecoin and Shiba Inu are undergoing major price changes, and the upcoming weekend could be crucial for both popular tokens.