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DOGE and SHIB Price Analysis for October 28

Fri, 10/28/2022 - 14:17
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Denys Serhiichuk
Can meme coins rise faster than popular cryptocurrencies?
DOGE and SHIB Price Analysis for October 28
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 market has faced a correction after a few days of continued growth.

Top 10 coins by CoinMarketCap

DOGE/USD

DOGE is an exception to the rule, rocketing by 8.27% over the last 24 hours.

DOGE/USD chart byTradingView

Even though the day has started with a drop, bulls were able to seize the initiative. At the moment, one needs to pay attention to yesterday's peak at $0.08852.

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If the daily candle closes around it or even above, the growth may continue to the important resistance zone at $0.09 soon.

DOGE is trading at $0.08472 at press time.

SHIB/USD

SHIB could not keep up with the rise of DOGE, falling by 0.72%.

SHIB/USD chart by TradingView

From the technical point of view, SHIB remains trading in a wide channel as neither bulls nor bears have accumulated enough power for a sharp move. However, if the price gets to the $0.000011 mark and fixes there, that might be a prerequisite for a midterm bull run to $0.00001150.

SHIB is trading at $0.00001091 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.