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DOGE, SHIB Price Analysis for February 17

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Fri, 17/02/2023 - 19:30
DOGE, SHIB Price Analysis for February 17
Cover image via www.tradingview.com

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The market seems undecided as yet about which way to move as some coins are in the red zone, while others are in the green.

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Top coins by CoinMarketCap

DOGE/USD

DOGE could not follow the rise of other coins, falling by 1.26% over the last 24 hours.

DOGE/USD chart byTradingView

On the weekly chart, DOGE keeps trading in the middle of the channel, accumulating power for a further move. The volume has fallen, which means that neither bulls nor bears have seized the initiative. In this case, the more likely scenario is ongoing consolidation in the range of $0.08-$0.09. 

DOGE is trading at $0.08691 at press time.

SHIB/USD

SHIB is even more of a loser than DOGE, going down by 2.54%.

SHIB/USD chart by TradingView

From the technical point of view, SHIB has lost more than DOGE as the rate is located closer to the support than to the resistance. However, if buyers can hold the price above the $0.000013 mark, there is a chance to see further slight growth to the middle of the channel around $0.00001350.

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Such a scenario is relevant until the end of the week.

SHIB is trading at $0.00001310 at press time.

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