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DOGE, SHIB, BONK and WIF Price Analysis for February 7

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Wed, 7/02/2024 - 18:00
DOGE, SHIB, BONK and WIF Price Analysis for February 7
Cover image via www.tradingview.com

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Buyers have turned out to be more powerful than sellers, according to CoinMarketCap.

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Top coins by CoinMarketCap

DOGE/USD

The rate of DOGE has risen by 0.81% since yesterday.

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Despite today's rise, the price of DOGE has not accumulated enough energy to rise. Until the rate is below the $0.08028 level, there is still a chance to see a correction. 

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Thus, the volume is low, which means that buyers are not willing to buy at the current prices.

DOGE is trading at $0.07882 at press time.

SHIB/USD

SHIB is less of a gainer than DOGE, rising by 0.13% over the last 24 hours.

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On the daily chart, the price of SHIB is looking bearish as it is still located near the support level. If the bar closes below the $0.00000880 mark, the accumulated energy might be enough for a breakout, followed by a drop to the $0.00000850 area.

SHIB is trading at $0.00000889 at press time.

BONK/USD

The rate of BONK has gone up by 1.72%.

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From the technical point of view, the price of BONK is on its way to testing the support level of $0.000009246. If it breaks out happens, traders may expect a sharp drop to the $0.0000080 zone soon.

BONK is trading at $0.00001004 at press time.

WIF/USD

WIF is the exception to the rule, falling by 8.27% over the last 24 hours.

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Image by TradingView

On the daily chart, traders should focus on the bar's closure in terms of the support level of $0.1833. If it happens below that mark, the fall may lead to a test of the $0.16 area.

WIF is trading at $0.18012 at press time.

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