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A big correction has arrived on the cryptocurrency market, according to CoinMarketCap.
DOGE/USD
The rate of DOGE has dropped by 11% since yesterday.
On the daily chart, the price of DOGE has reached the support level of $0.08380. If the bar closes below it, the meme coin will return to the bearish zone. In that case, the correction might continue to the $0.07 area.
DOGE is trading at $0.08227 at press time.
SHIB/USD
SHIB has followed the dumping of other coins, going down by 15%.
The rate of SHIB keeps declining after a failed attempt to fix above the $0.00001136 mark. From the technical point of view, bears have seized the initiative; however, the price is far from the support and resistance levels.
All in all, sideways trading in the area of $0.000008-$0.00000950 is the more likely scenario for the next few days.
SHIB is trading at $0.00000924 at press time.
BONK/USD
BONK is the biggest loser today, falling by more than 20%.
The rate of BONK has broken the support level of $0.00001238, entering the bearish zone. Until the price is below that mark, there are chances to see a further downward move. If that happens, traders may see a test of the $0.0000090 area soon.
BONK is trading at $0.00001124 at press time.
Vladislav Sopov
Gamza Khanzadaev
