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DOGE and SHIB Price Analysis for October 2

Sun, 10/02/2022 - 14:18
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Denys Serhiichuk
Which meme coin can grow faster?
DOGE and SHIB Price Analysis for October 2
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 back in the game as the rates of all the top 10 coins are going down.

Top coins by CoinMarketCap

DOGE/USD

DOGE has followed the drop of other coins, falling by 3.33%.

DOGE/USD chart byTradingView

DOGE keeps trading sideways as neither buyers nor sellers could seize the initiative yet. If the decline continues to the $0.058 mark, there is a possibility of a sharp drop to the $0.05 area as the meme coin has accumulated enough power for it.

DOGE is trading at $0.05971 at press time.

SHIB/USD

SHIB is trading similarly to DOGE as the price has declined by 3.16% over the last day.

SHIB/USD chart by TradingView

From the technical point of view, SHIB is trading in the middle of the channel with no bearish or bullish signals. At the moment, one needs to pay close attention to the $0.000012 mark. If the price gets there, it can generate a sharp move to the nearest resistance area at $0.000013.

SHIB is trading at $0.00001099 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.