Market Sell-Off Creates Meme Coin Sale: Dogecoin (DOGE) vs. Shiba Inu (SHIB) – Which Will Rebound Hardest and Double in Value First After This Downside?

The recent market downturn has led to a significant drop in meme coin prices, presenting a potential opportunity for savvy investors. This article explores the trajectory of Dogecoin (DOGE) and Shiba Inu (SHIB), analyzing which one is poised to bounce back stronger and potentially double in value. Discover the factors that could drive these meme coins to new heights.

Dogecoin Market Shifts and Key Trading Levels

Over the last month, Dogecoin showed a modest gain close to 1.57% amid a price range between $0.1511 and $0.2470. The coin experienced a one-week drop of 18.61% that contrasts with the slight monthly recovery. Over the half-year period, Dogecoin suffered a heavy decline of 61.46%, marking an extended bearish phase that still lingers. The price behavior over these periods points to short-term recovery efforts that have yet to fully offset the long-term downturn. Recent price activity reflects both the potential for short-term gains and ongoing challenges posed by older bearish trends.

The current price action centers around key support at $0.11 and resistance at $0.30. The price remains within a neutral zone as bears currently hold greater influence. Technical indicators suggest continued downward pressure, with the Awesome Oscillator at -0.0240 and the Momentum reading at -0.0521. The Relative Strength Index sits below 40 at 33.96, indicating oversold conditions that might lead to short-term rebounds if buyers enter the market. Market participants should explore buying opportunities near $0.11, targeting a potential move toward $0.30, while maintaining tight stop-loss levels to manage risk amid expected volatile trading.

Shiba Inu Price Analysis: Past Declines and Key Price Levels

Past price behavior shows a consistent decline with a sharp drop over six months, reaching a 62% decrease. A one-month slide of nearly 5% and a 12% fall within the last week highlight a bearish track over recent periods. These figures indicate sustained pressure on SHIB, with no significant recovery signs in the chosen time frame, reflecting caution among market participants.

The current price range sits between $0.000011 and $0.000016, with nearby resistance at $0.000020 and support at $0.000009. Additional resistance at $0.000025 and support at $0.000003 provide further context. The Awesome Oscillator and Momentum Indicator are slightly negative, while the RSI is at 35.28, near oversold territory. Bears dominate the market with no clear long-term trend. Traders should look for bounce opportunities near $0.000009 support and consider exits around $0.000020, as the market lacks strong upward momentum.

Conclusion

The recent sell-off has made both Dogecoin (DOGE) and Shiba Inu (SHIB) more attractive to investors seeking potential rebounds. DOGE boasts a strong community and high visibility, which could drive its recovery quickly. SHIB, with its lower price and active development team, has the potential for high percentage gains. Both coins have unique strengths that might help them recover and double in value. The race between DOGE and SHIB for the first significant rebound remains tight. Monitoring their respective progress and market trends will be crucial for anticipating which coin will lead the recovery.

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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