New Delhi: Dogecoin and Shiba Inu prices witness a steep sell-off after a good upward rally this weekend. At the time of writing this, DOGE is trading at $0.248 while SHIB is trading at $0.00000763 which makes their total market cap to more than $31 Billion and $2.8 billion respectively.
DOGE and SHIB prices are comparatively higher than they were in July as they jumped almost 20% in the past week. The Crypto market saw an upward swing as major coins like Bitcoin, Ethereum, and XRP’s Ripple rallied.
The market cap of all crypto coins tracked by CoinMarketCap showed that their total market value rises to more than $1.77 trillion, which is actually higher than where they were in the last month.
As Bitcoin aiming to rise above $45,000, this gives a sense that a new Bull run might come in the crypto market. The increase in the total volume across most crypto exchange platforms in the past few days can also be a sign of the new bull run.
The key data to watch will be the Coinbase Global earnings this week. It is expected that the company will record a revenue of more than $2.3 billion. It is also expected that it’s earnings per share can rise up to $2.2.
As we read these signs, we can possibly say that we are now in a new bullish cycle and there is a possibility that these coins will keep rising.
Dogecoin price prediction
The 4hour chart depicts that the coin price rose to almost $0.285 which actually higher than its this year low of $0.1630. A closer reading of the chart shows that the DOGE has formed a cup and handle pattern.
The current decline is part of the handle section and therefore there is a possibility that DOGE will rebound when bulls attempt to move the coin above $0.30.
SHIB price prediction
The 4hour chart depicts that the Shiba Inu has risen by more than 34% from its lowest price level since June. SHIB has retested its key support at $0.0000070 and it is still above the 25-day and 50-day moving averages.
This gives us a sign the SHIB will resume the bullish trend and will try to retest the highest point this week.
