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DOGE and SHIB Price Analysis for August 28

Mon, 08/29/2022 - 16:35
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Denys Serhiichuk
Can the meme coins keep up with the rise of Bitcoin (BTC)?
DOGE and SHIB Price Analysis for August 28
Cover image via www.tradingview.com

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At the beginning of the week, most of the coins followed the rise of first cryptocurrency – Bitcoin (BTC).

Top coins by CoinMarketCap

DOGE/USD

DOGE was unable to rise the way other coins did and dropped, going down by 0.13 percent over the past 24 hours.

DOGE/USD chart by TradingView

Despite the slight fall, DOGE made a false breakout of yesterday's low at $0.06129. At the moment, the price is trying to break the local resistance level at $0.06412.

Related
Ethereum (ETH) Price Analysis for August 28

If buyers can hold the gained initiative, the rise may lead to a test of the $0.066 zone before the end of the week. DOGE is trading at $0.06345 at press time.

SHIB/USD

Unlike DOGE, the SHIB price has risen by 0.78% since yesterday.

SHIB/USD chart by TradingView

From the technical point of view, SHIB is trading similarly to DOGE as the price now is closer to the resistance level than to the support one.

In this case, there is a high probability to see the breakout of the $0.00001268 mark if the candle closes near $0.00001240. SHIB is trading at $0.00001240 at press time.

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About the author

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing, ATB Coin, and others, can be contacted at denys.serhiichuk@u.today.