Javier Hernandez Dogecoin halted a successive three-day downturn on Saturday as the popular meme token discovered a support level. This occurred while X, previously known as Twitter, proceeded with its rebranding, demonstrating its fresh logo across the San Francisco skyline. Shiba Inu rose by over 5% today.
Dogecoin (DOGE)
Dogecoin (DOGE) saw a recovery on Saturday, marking the end of its recent three-day slide during today’s trading session.
DOGE/USD reached an intraday high of $0.07828 earlier today, following Friday’s plunge to a low at $0.07653.
The downturn on Friday brought the meme token close to a support level at $0.07600, but bulls prevented a complete crash.
DOGE/USD – Daily Chart
Although DOGE is now nearly 2% up from Friday’s bottom, the price could have encountered a resistance, given the present location of the relative strength index (RSI).
The index lingers beneath a resistance point at 63.00, which must be surpassed if DOGE bulls plan to accumulate additional gains over the weekend.
As of writing, the price strength is registering at 62.53.
Shiba Inu (SHIB)
Shiba Inu (SHIB) persisted trading near a two-week peak in today’s session, following yesterday’s notable price surge.
Saturday saw SHIB/USD reach a peak at $0.00000840, following Friday’s dip to a low of $0.00000783.
This is slightly under the $0.00000845 level achieved yesterday, marking its highest level since July 14.
SHIB/USD – Daily Chart
Observing the chart, the rally occurred as the RSI exceeded a resistance at 60.00 and is now recording at 64.29.
Overall, this is the greatest price strength level in SHIB since February 7, when the price hit a high of $0.00001449.
If the momentum stays bullish over the weekend, $0.00000890 is a plausible target for traders.
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Could the X platform integrate meme coin payments? Share your thoughts in the comments.
Table Of Contents
Frequently Asked Questions (FAQs) about Cryptocurrency Movements
What cryptocurrencies are highlighted in this analysis?
This analysis highlights the movements of two popular cryptocurrencies, Dogecoin (DOGE) and Shiba Inu (SHIB).
How did Dogecoin perform on the given Saturday?
Dogecoin rebounded, halting a three-day losing streak on the given Saturday. It reached an intraday high of $0.07828, bouncing back from Friday’s low of $0.07653.
What was the performance of Shiba Inu on the same day?
Shiba Inu continued to trade close to a two-week high on that day, reaching a peak of $0.00000840, following a dip on Friday to a low of $0.00000783.
What could be the potential impact of X’s rebranding on cryptocurrency markets?
While the text does not provide explicit analysis on the impact of X’s rebranding on the cryptocurrency markets, significant industry changes, such as a major platform’s rebranding, can influence market sentiments and trends.
Can users of the X platform expect meme coin payments in the future?
The text does not provide a definitive answer to this. However, it invites readers to speculate on the possibility of meme coin payments being integrated into the X platform in the future.
More about Cryptocurrency Movements
- Understanding Cryptocurrency
- Dogecoin Analysis
- Shiba Inu Analysis
- Understanding Relative Strength Index – RSI
- Introduction to Meme Coins
- Cryptocurrency Market Trends
7 comments
Anybody know more about this X rebranding? Will it have a big impact on the market?
if X platform start accepting meme coin payments…that’d be huge! Just imagine the possibilities.
Shiba’s moving up…5% is not a joke in crypto world…guess, i should’ve bought more when it was low.
Good analysis but the market can shift anytime…Remember to only invest what you can afford to lose guys.
interesting read! Eye on that RSI index though…could be crucial for the next move.
this is why i love meme coins, they’re so unpredictable! Doge n Shiba keeping the market exciting…
Next stop for Shiba…$0.00000890. Let’s go! We need that bullish weekend.