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DOGE and SHIB Price Analysis for July 9

Sat, 07/09/2022 - 15:38
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Denys Serhiichuk
Can meme coins start rising faster than other coins?
DOGE and SHIB Price Analysis for July 9
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 weekend has begun with continued bulls' dominance as all of the top 10 coins keep rising.

Top coins by CoinMarketCap
Top coins by CoinMarketCap

DOGE/USD

DOGE is following the rise of other coins, going up by 0.24%.

DOGE/USD chart by TradingView
DOGE/USD chart by TradingView

Despite slight growth, DOGE keeps trading in a wide channel, accumulating power for a further sharp move. At the moment, the price is closer to the resistance than to the support level, which means that bulls are more powerful than bears, to a certain extent.

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If the price can return to the $0.07 mark and fix above it, there are chances to see a continued upward move.

DOGE is trading at $0.0693 at press time.

SHIB/USD

SHIB has not followed the rise of DOGE, falling by 0.08% since yesterday.

SHIB/USD chart by TradingView
SHIB/USD chart by TradingView

From the technical point of view, SHIB is trading similar to DOGE as sideways trading remains the more likely scenario for the upcoming days. Further growth is possible only if the rate returns to the $0.000012 zone.

SHIB is trading at $0.00001128 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.