Dogecoin and Shiba Inu Poised for Major Comeback: Will SHIB and DOGE Prices Hold Momentum?

Recent Market Volatility Impacts Meme Coins

The recent market turbulence has taken a toll on meme coins, driving their collective market capitalization below $70 billion. Shiba Inu and Dogecoin, in particular, have faced difficulties in stabilizing their prices amidst significant price fluctuations.

Shiba Inu and Dogecoin Gather Momentum

Data from Coinglass reveals substantial liquidation in the past 24 hours, totaling $6.77 million for Dogecoin and $137,000 for Shiba Inu. Despite these liquidations, the prices of both coins have remained stable, indicating potential for an impending rally.

Analysts Predict Strong Recovery

Experts believe the current consolidation in Dogecoin and Shiba Inu prices may signal a favorable recovery, especially during market downturns. Large investors continue to accumulate these coins, suggesting strengthening support levels and boosting the likelihood of a price surge.

Dogecoin Price Analysis

Dogecoin has experienced a sharp decline from the $0.3 mark, with strong resistance at this level. As of writing, it trades at $0.254, up 1.47% from the previous 24 hours.

Shiba Inu Price Analysis

Shiba Inu is attempting a recovery, targeting a breakout above the EMA50 trendline. However, resistance remains, with the current price at $0.000015. The downtrend line continues to exert selling pressure, but buyers may attempt to push towards $0.000022.

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