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DOGE and SHIB Price Analysis for July 22

Sat, 07/22/2023 - 12:09
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Denys Serhiichuk
When can traders expect sharp moves by DOGE and SHIB?
DOGE and SHIB Price Analysis for July 22
Cover image via www.tradingview.com

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The market is trading sideways at the beginning of the weekend, according to CoinMarketCap's ranking.

Top 10 coins by CoinMarketCap

Top coins by CoinMarketCap

DOGE/USD

The rate of DOGE has fallen by 0.85% over the last 24 hours.

DOGE/USD chart by Trading View

Image by TradingView

On the daily chart, the price of DOGE has made a false breakout of yesterday's low at $0.07026. However, the rate of the meme coin is not ready to rise yet as it is located far from the resistance.

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Bitcoin (BTC) Price Analysis for July 21

In this case, ongoing consolidation in the area of $0.071-$0.074 is the more likely scenario for next week.

DOGE is trading at $0.07177 at press time.

SHIB/USD

Unlike DOGE, the rate of SHIB has risen by 0.57%.

SHIB/USD chart by Trading View

Image by TradingView

Despite today's slight rise, the rate of SHIB is not ready for a sharp move yet as it has not accumulated enough energy. Traders can only start thinking about a possible rise if the price fixes above the $0.000008 zone.

SHIB is trading at $0.00000783 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.