- 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…
The post Oversold Signals Spark Hope for DOGE and SHIB Amid Crypto Slump appeared first on Coin Edition.
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