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DOGE and SHIB Price Analysis for May 23

Sun, 05/22/2022 - 15:36
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Denys Serhiichuk
Have the meme coins formed a reversal pattern so far?
DOGE and SHIB Price Analysis for May 23
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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Bears are losing their efforts as the majority of the coins are going up.

Top coins by CoinMarketCap
Top coins by CoinMarketCap

DOGE/USD

DOGE is going up, growing by 0.72% over the last 24 hours.

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

Despite the growth, DOGE is located in the middle of a wide range between the support at $0.0711 and the resistance at $0.1.

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However, if buyers' pressure continues and the candle fixes around $0.09, there are good chances to see the current week turn bullish for the meme coin.

DOGE is trading at $0.0864 at press time.

SHIB/USD

SHIB has gained more than DOGE with a rise of 2.08% since yesterday.

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

At the moment, SHIB is far away from mid-term growth as the rate remains close to the support at $0.000011. If the buying trading volume keeps going down, one can expect a further drop to the critical zone of $0.000010 within the next few days.

SHIB is trading at $0.00001219 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.