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DOGE and SHIB Price Analysis for October 16

Sun, 10/16/2022 - 09:25
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Denys Serhiichuk
How big are chances to see rise of meme coins next week?
DOGE and SHIB Price Analysis for October 16
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Bulls could not seize the initiative on the last day of the week as most of the coins keep trading in the red zone.

Top coins by CoinMarketCap


DOGE is the only coin from the list whose rate is going up. The price has risen by 0.58% over the last 24 hours.

DOGE/USD chart byTradingView

However, today's slight rise has not affected the technical position of DOGE. The rate remains close to the support level at $0.05628, which means that bears still have power.

SOL and MATIC Price Analysis for October 14

If buyers want to seize the initiative, they need to bring the price back to the $0.065 zone. Thus, the volume should also start rising.

DOGE is trading at $0.059 at press time.


SHIB has gained even more than DOGE as the price has grown by 1.08%.

SHIB/USD chart by TradingView

On the daily chart, SHIB is looking even worse than DOGE as the rate is very close to the support level at $0.00001. In addition, this is a key level for bulls. If they lose it, there is a high chance of a continued sharp drop as the meme coin has accumulated enough power for that. All in all, a breakout of the aforementioned level may lead to a test of the $0.000009 area soon.

SHIB is trading at $0.00001028 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