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Dogecoin and Shiba Inu Price Predictions: Is the Price Reversal Happening?
The cross-border market has witnessed a significant price drop in major cryptocurrencies, with double-digit declines recorded. Furthermore, the memecoin category was most affected, experiencing an 11.48% decrease in valuation. Subsequently, Dogecoin and Shiba Inu both secured a place in the top loss list. Considering the current market situation, investors are concerned about questions like 'Is this a good time to invest in memecoins?' and 'Will Dogecoin ever recover?'. In this article, we will provide the latest market insights, price analysis, and achievable price targets. Dogecoin (DOGE) The price of DOGE has undergone a strong reversal at the important resistance level of $0.3850. This has led to a 10.83% decrease in the past 24 hours with a trading volume of $5.458 billion. However, with a market capitalization of over $51 billion, this coin still maintains its 7th position. Please provide the text to be translated. The Relative Strength Index (RSI) indicates a strong decline with its trendline converging negatively. However, with the 50-day EMA acting as support, the price of DOGE shows a mixed price action. If the buying side regains momentum, the Dogecoin price will retest the resistance level at $0.385 this week. Conversely, if the selling side overpowers the buying side, this meme coin may drop to as low as $0.325. Shiba Inu (SHIB) The price of SHIB has recorded a ~10% adjustment in 24 hours with a trading volume of $814.28 million. Despite a 2.86% increase over seven days, the Shiba Inu meme coin has experienced less than 1% volatility this year.
The Moving Average Convergence Divergence (MACD) reflects continuous decline in the green chart with strong convergence. Furthermore, the SMA indicator shows similar price action, indicating a negative outlook. Assuming a reversal trend occurs, in that case, the price of Shiba Inu will aim for the resistance level at 0.00003080 dollars. Conversely, a stronger price decrease action could pull the price down to a low of 0.0000170 dollars.