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DOGE and SHIB Price Analysis for December 8

Thu, 12/08/2022 - 21:30
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Denys Serhiichuk
How long is accumulation phase of DOGE and SHIB going to last?
DOGE and SHIB Price Analysis for December 8
Cover image via www.tradingview.com

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

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The cryptocurrency market is trading sideways after a few days of decline.

Top 10 coins by CoinMarketCap

DOGE/USD

DOGE could not withstand bears' pressure, falling by 0.51%.

DOGE/USD chart by TradingView

Today's slight rise has not affected the general picture of DOGE. The rate keeps slowly approaching the support level at $0.09150. If buyers cannot restore the price above $0.10 shortly, one can expect the fall to the $0.09 mark by the end of December.

DOGE is trading at $0.09642 at press time.

SHIB/USD

SHIB is outperforming DOGE, going up by 0.59%.

SHIB/USD chart by Trading View

Despite a slight rise, SHIB has not accumulated enough power for continued growth. Thus, the volume is low, which means that traders are not willing to buy at current levels. The upward move may happen only if the rate comes back to the resistance at $0.00000967.

SHIB is trading at $0.00000921 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.