Warning: Dogecoin And Shiba Inu Face Massive Risk – Can They Lose More Than 60% In The Next Month?
Cryptocurrencies like Dogecoin and Shiba Inu have been making headlines, but stormy times could be ahead. The latest analysis suggests these popular digital coins might be in for a rough ride, with values predicted to plunge significantly. Could these meme-based investments lose more than 60% in the next month? Exploring their future prospects uncovers the potential for growth in other coins.
Dogecoin's Recent Performance and Price Dynamics
Dogecoin dropped 18% in one week and lost 15% over the past month, though it did show a 34% gain over the last six months. The price fluctuations occurred within a range of $0.13 to $0.23 as momentum and oscillator readings slightly dipped into negative territory. The relative strength index stands at 33.24, indicating an oversold condition alongside longer-term recovery trends, which reflects mixed market sentiment regarding its recent behavior.
The current trading range is between $0.13 and $0.23, with immediate resistance at $0.28 and support at $0.08. The absence of a clear trend and weak momentum indicate a cautious stance from bulls. Potential trading opportunities may arise if the price successfully bounces off the support level or tests the resistance area in the near term.
Shiba Inu: Recent Downturn and Key Price Levels to Watch
Last month SHIB recorded an 8.23% loss, while the coin has seen a 36.16% drop over the past six months. A significant weekly decline of 15.62% underscores the ongoing pressure on price action. The coin's performance has remained limited within a narrow range, characterized by negative momentum and low oscillator readings. Price corrections have intensified, with persistent downtrends signaling a market under stress.
Current price fluctuates between $0.00001 and $0.00002, facing strong resistance at $0.00002 and solid support at $0.00001. The bears are mostly in control, as technical indicators reveal an RSI of 31.70 and negative momentum, indicating a lack of a clear bullish trend. Traders may consider short-term opportunities within these levels while keeping an eye on potential breakout signals.
Conclusion
DOGE and SHIB face potential significant losses in the near future. The market volatility may impact their values severely. Investors should stay informed about market trends and news. Careful consideration is crucial before making any decisions. The potential for a steep decline highlights the importance of staying updated. With a possible downturn looming, it's vital to keep track of these coins closely.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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