Tuesday, July 16, 2024

Shiba Inu (SHIB) soared to a high not seen in several months this past Saturday, as the meme-based cryptocurrency continued its upward trend in recent days. This rally was spurred by the anticipation surrounding its forthcoming layer 2 release. Dogecoin also built on its recent success as the weekend began.

Shiba Inu (SHIB)

Saturday’s trading session saw Shiba Inu (SHIB) as one of the standout gainers, with its price escalating to a high not seen in months.

The cryptocurrency’s value rose from a Friday low of $0.00001001 to an earlier Saturday peak of $0.00001127.

This development marked a five-day surge for SHIB, reaching its highest level since April.

SHIB/USD – Daily Chart

The chart illustrates that this latest spike in price came as the relative strength index (RSI) exceeded the 65.00 threshold.

At present, the price strength reading stands at 74.27, and the following apparent resistance level is at 76.00.

If the bullish trend reaches this mark, SHIB might potentially achieve $0.00001200.

Dogecoin (DOGE)

Similarly, Dogecoin (DOGE) experienced a notable rise over the weekend, continuing its five-day positive streak.

DOGE/USD reached a Saturday intraday peak of $0.07715, following a Friday low of $0.07517.

This price increase led the cryptocurrency to its most robust level since August 2, when it reached a high of $0.0786.

DOGE/USD – Daily Chart

Much like Shiba Inu, the surge in Dogecoin’s price happened as the price strength broke through a resistance level of 55.00.

Bulls now face a 60.00 ceiling, should they continue to uphold the momentum they’ve built this week.

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What are your thoughts on meme coins maintaining their bullish trend over the weekend? Share your opinions in the comments.

Frequently Asked Questions (FAQs) about fokus keyword: cryptocurrency

What caused Shiba Inu (SHIB) to surge to a multi-month high on Saturday?

The surge in Shiba Inu’s price was a result of bullish momentum that extended over five consecutive days, reaching its strongest point since April. The anticipation surrounding its upcoming layer 2 launch also contributed to the rally.

What were the significant price points for SHIB over the weekend?

SHIB’s price rallied from a low of $0.00001001 on Friday to a peak of $0.00001127 earlier on Saturday. If the bullish trend hits a resistance level of 76.00, SHIB could possibly reach $0.00001200.

How did Dogecoin (DOGE) perform over the weekend?

Dogecoin also raced higher during the weekend, remaining in the green for a fifth consecutive session. It jumped to an intraday high of $0.07715 on Saturday, following a low of $0.07517 on Friday, reaching its strongest level since August 2.

What are the resistance levels for both SHIB and DOGE?

For SHIB, the next visible resistance zone is at the 76.00 mark, while for DOGE, a ceiling of 60.00 awaits the bulls, should they maintain the week’s momentum.

Can I get weekly updates on price analysis?

Yes, you can register your email to get weekly price analysis updates sent directly to your inbox.

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Marry_inCrypto August 13, 2023 - 7:37 pm

Dogecoin to the moon! Finally, somthing good is happening with my DOGE. fingers crossed

Tom_Trader August 13, 2023 - 8:44 pm

Doge’s doing well, but SHIB’s growth is what’s catchin my eye. thinking about investing, but should I wait or buy now? some guidance pls.

TechGuru101 August 13, 2023 - 9:51 pm

The analysis seems quite thorough. Can anyone explain the RSI part, not very clear to me whats happening there.

JakeSmith92 August 14, 2023 - 5:59 am

Just bought more SHIB, hope it keeps climbing! Dont know much bout charts but it looks like good news??

BeckyLovesMemes August 14, 2023 - 10:06 am

so excited about the meme coins! Shiba’s layer 2 launch sounds great but when exactly is that. Did i miss it in the article


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