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DOGE and SHIB Price Analysis for May 9

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Tue, 9/05/2023 - 18:00
DOGE and SHIB Price Analysis for May 9
Cover image via www.tradingview.com

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The correction continues on the cryptocurrency market as the rates of most of the coins keep falling.

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Top 10 coins by CoinMarketCap

Top coins by CoinMarketCap

DOGE/USD

The rate of DOGE has fallen by 2.57% over the last 24 hours.

DOGE/USD chart by Trading View

Image by TradingView

The rate of DOGE has continued to fall after a failed attempt to fix above the $0.08 zone. If the situation does not change, there is a high chance of seeing a further drop to the $0.07, followed by a test of the support at $0.06324. Such a scenario is relevant until the end of the week.

DOGE is trading at $0.07278 at press time.

SHIB/USD

SHIB has followed the drop of DOGE, going down by 1.88%.

SHIB/USD chart by Trading View

Image by TradingView

On the daily chart, the price of SHIB has fixed below the important level at $0.00000935. Until the rate is below that mark, there is a high possibility of seeing a further drop to the next zone of $0.000008.

SHIB is trading at $0.0000088 at press time.

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