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SHIB, DOGE, and FLOKI Price Analysis for December 10

Price Predictions
Fri, 12/10/2021 - 16:34
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Denys Serhiichuk
Can altcoins weather the Bitcoin drawdown?
SHIB, DOGE, and FLOKI Price Analysis for December 10
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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By the end of the week, bears remain more powerful than bulls, with all the top coins from the top 10 list being in the red zone.

Top coins by CoinMarketCap
Top coins by CoinMarketCap

DOGE/USD

Dogecoin (DOGE) keeps going down, falling by almost 4% over the last 24 hours.

DOGE/USD chart by TradingView
DOGE/USD chart by TradingView

The price drop may continue if the daily candle fixes below the support level of $0.1617. If that happens, there is a high chance of seeing the ongoing decrease to the next vital level of $0.1310.

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In addition, the selling trading volume is high, which confirms the bears' strength.

DOGE is trading at $0.1682 at press time

SHIB/USD

SHIB is performing better than DOGE, dropping 3.19% over the past 24 hours.  

SHIB/USD chart by Trading View
SHIB/USD chart by Trading View

However, SHIB is also looking more bearish since buyers could not get to $0.000040 and find a footing there.

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Hence, the more likely price action scenario is a drop to the closest area around $0.00002952 where bulls may seize control. 

SHIB is trading at $0.00003482 at press time.

FLOKI/USD

FLOKI is the biggest loser from the list today, with its price going down 8%.

FLOKI/USD chart by Trading View
FLOKI/USD chart by Trading View

FLOKI keeps trading in the wide channel between the support at $0.0001150 and the resistance at $0.0003196. At the moment, the price is located closer to the support area, the breakdown of which may cause a sharp decline to the zone around $0.0001.

FLOKI is trading at $0.0001376 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.