Price: $0.42427 -4.0511%
Market Cap: 62.34B 1.8699%
Volume (24h): 11.14B 0.4%
Dominance: 1.8699%
Price: $0.42427 -4.0511%
Market Cap: 62.34B 1.8699%
Volume (24h): 11.14B 0.4%
Dominance: 1.8699% 1.8699%
  • Price: $0.42427 -4.0511%
  • Market Cap: 62.34B 1.8699%
  • Volume (24h): 11.14B 0.4%
  • Dominance: 1.8699% 1.8699%
  • Price: $0.42427 -4.0511%
Home > Information news > Oversold Signals Spark Hope for DOGE and SHIB Amid Crypto Slump

Oversold Signals Spark Hope for DOGE and SHIB Amid Crypto Slump

Release: 2023/09/01 22:30 Reading: 704

Original author：Coin Edition

Original source：https://coinmarketcap.com/community/articles/64f1ef86b3a7155af12f0eee

  • DOGE stalls at $0.06692 resistance and retreats to the $0.06309 support level.
  • SHIB’s price dip contrasts with soaring Shibarium adoption, with I million wallets in sight.
  • Oversold conditions in DOGE and SHIB signal a potential turnaround.
On August 31st, the US Securities and Exchange Commission (SEC) postponed approving spot Bitcoin ETFs, prompting a negative trend in the cryptocurrency market. As a result, Dogecoin (DOGE) followed suit, dropping from a 24-hour high of $0.06692 to an intraday low of $0.06309 before finding support.

DOGE was trading at $0.06356 at press time, down 4.47 % from its intra-day high. Despite a decrease in market capitalization of 4.56% to $8.95 billion, the 24-hour trading volume of $217.09 million was up 20.29%.

A 24.07 reading on the stochastic RSI indicates that DOGE is oversold and ready for a possible comeback. This degree of oversold conditions indicates the selling pressure on DOGE is reaching exhaustion, which might result in a price reversal. Furthermore, the rise in trading volume implies increased interest and activity in DOGE, which might contribute to a potent…

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