Dogecoin & SHIB in Trouble! Can It Rebound After a 30-Day Slump?

Crypto Market Struggles as Top Tokens Lose Value

The cryptocurrency market has been experiencing a downturn, with prominent tokens losing significant value. This has resulted in traders abandoning critical support levels, indicating a rise in uncertainty in price movements.

Dogecoin (DOGE)

Over the past 24 hours, DOGE has declined by 1.58%, with a trading volume of $1.115 billion. In the past month, it has lost 33.11%. Its market capitalization currently stands at $39.224 billion, with a dominance of 1.2695%.

Technical analysis indicates a bearish trend for DOGE. The 50-day EMA is sloping downwards, while the 200-day EMA provides strong support. The RSI is currently below the neutral trendline, signaling increased volatility.

A breakout above $0.2650 could push DOGE towards $0.3250. Conversely, if the bears dominate, it may retest its low of $0.20750.

Shiba Inu (SHIB)

Despite showing a slight rise of around 3% in the past week, SHIB has lost 29.53% in the last 30 days. Its YTD return is -24.05%.

The MACD on the daily chart indicates a bullish trend, with the histograms rising. However, the 50/200-day EMA depicts a negative price action, suggesting a mixed sentiment.

A bullish breakout could push SHIB above $0.0000170, aiming for $0.00002350. A bearish reversal, on the other hand, could lead to a decline towards $0.00001175.

FAQs

• Can DOGE reach $1?
  If the bullish momentum continues, DOGE may surpass $1.
• What will be the price of 1 DOGE in 2025?
  With increased bullish action, DOGE could reach a maximum of $1.
• How high will SHIB go in 2025?
  Amid volatility, SHIB may range between $0.0000201 and $0.00006392.
• What is the current value of SHIB?
  At the time of writing, SHIB is valued at $0.00001593.