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DOGE and SHIB Price Analysis for July 17

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Sun, 17/07/2022 - 14:34
DOGE and SHIB Price Analysis for July 17
Cover image via www.tradingview.com

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This week has turned out to be bullish for the cryptocurrency market.

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Top coins by CoinMarketCap

DOGE/USD

Despite the market growth, the rate of DOGE has declined by 5.58% over the last 7 days.

DOGE/USD chart by TradingView

On the daily chart, DOGE is located in the middle of a wide range with neither bullish nor bearish signals. The meme coin has made a false breakout out of the $0.065 mark, which means that bears tend to be more potent than bulls.

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If the situation does not change, one can see a return to the $0.060 zone soon.

DOGE is trading at $0.063 at press time.

SHIB/USD

SHIB has followed the decline of DOGE, going down by 2.25% since the beginning of the week.

SHIB/USD chart by TradingView

From the technical point of view, SHIB is also trading similar to DOGE as bulls have not seized the initiative yet in the long-term. The sellers' pressure may continue until buyers can fix the price above the $0.000011 zone.

SHIB is trading at $0.00001083 at press time.

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