Dogecoin has been consolidating in today’s session, after a choppy few days of trading last week. The meme coin rose nearly 30% last Monday, before giving up those gains as the week wore on. The Shiba Inu has not changed greatly.
Dogecoin (DOGE)
Dogecoin (DOGE) rose slightly on Monday, as the price started to stabilize after the recent volatility.
This past Monday saw the meme coin jump nearly 30%, hitting a four-month high in the process.
Since then, the price has retreated, with the meme coin bottoming at $0.08204 earlier in today’s session.
DOGE/USD continued to peak at $0.08383 on Monday, which came as the Relative Strength Index (RSI) neared the ceiling at 55.00.
At the time of writing, the index is tracking at 52.83, which comes after the bulls rejected a break below the floor at 51.00.
If the RSI moves towards the 55.00 mark, there is a good chance that DOGE will trade above $0.0850.
Shiba Inu (sheep)
The Shiba inu (SHIB) was largely unchanged to start the week, as the meme coin continued to consolidate on Monday.
After a low of $0.00001085 on Sunday, SHIB/USD rose to a high of $0.00001099 in today’s session.
As a result of this move, SHIB continues to trade below the interim resistance level of $0.00001100.
Looking at the chart, the uncertainty in the price comes despite the recent bullish crossover between the 10-day moving average (red) and the 25-day moving average (blue).
In addition, the RSI remains below a major ceiling at 50.00, which seems to be another reason for the current volatility.
For the bulls to regain market sentiment, a breakout of this level must occur.
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Image credits: Shutterstock, Pixabay, Wiki Commons, Dennis Diatel / Shutterstock.com
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