Disclaimer: The opinion expressed herein is not investment advice; it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and trade involves risk, so you should always do your own research before making any decisions. We advise against investing money that you cannot afford to lose.
A correction might have arrived in the cryptocurrency market as the majority of coins are in the red zone.
Top pieces by CoinMarketCap
DOGE/USD
The DOGE rate is down 0.44% since yesterday. Over the past week, the price has increased by 8.69%.
Picture by TradingView
On the daily chart, DOGE price did not decline after yesterday’s bearish candle. However, the bulls are running out of power and cannot sustain growth from current levels. A further move up is only possible if the bar closes above the $0.07 area.
DOGE is trading at $0.06768 at press time.
SHIB/USD
SHIB also joined the list of declining coins, down 0.80%.
Picture by TradingView
From a technical standpoint, SHIB trades similarly to DOGE as price builds up strength for another move. The selling volume decreased slightly which means that a continued consolidation in the narrow range of $0.0000078 to $0.00008 is the most likely scenario for the next few days.
SHIB is trading at $0.00000796 at press time.
