DOGE, SHIB and BONK Price Analysis for December 31

Price Analysis
Sun, 12/31/2023 - 12:58
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The last day of the year is starting mainly bullish for cryptocurrencies, according to CoinMarketCap.

Top coins by CoinMarketCap

DOGE/USD

The rate of DOGE has risen by 0.57% over the last 24 hours.

Image by TradingView

Despite today's slight rise, bulls have not seized the initiative yet. Thus, the volume keeps falling, which means that neither buyers nor sellers are ready for a sharp move.

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In this case, sideways trading in the area of $0.088-$0.092 is the more likely scenario for next week.

DOGE is trading at $0.0906 at press time.

SHIB/USD

The price of SHIB has increased by almost 1% since yesterday.

Image by TradingView

On the daily chart, the rate of SHIB is far from the main levels. If buyers want to be back in the game, they need to restore the price to the vital zone of $0.000011. Otherwise, traders may expect a test of the nearest support at $0.000010.

SHIB is trading at $0.00001054 at press time.

BONK/USD

BONK has followed the rise of DOGE and SHIB, going up by 0.38%.

Image by TradingView

From the technical point of view, the rate of BONK is in the middle of the channel between the support of $0.00001238 and the resistance of $0.00001622. As neither side is dominating, ongoing consolidation in the range of $0.00001350-$0.00001450 is the more likely scenario for the next few days.

BONK is trading at $0.00001421 at press time.