Shiba

Dogecoin

Million

Shiba Inu

The post <a href="https://coinpedia.org/price-analysis/doge-and-shib-price-hint-at-a-bearish-run-amid-increased-volatility-whats-next/">DOGE And SHIB Price Hint At A Bearish Run Amid Increased Volatility! What’s Next?</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a> 
With the market leader, <a href="https://coinpedia.org/price-prediction/bitcoin-price-prediction/">Bitcoin price</a>, hovering close to its crucial support level at $60K, the memecoins continue to display a strong bearish price action over the past week. 
Moreover, memecoin category leaders, Dogecoin and Shiba Inu have recorded a correction of 11.69% and 6.99% in their respective portfolios over the past seven days, indicating a negative outlook for these tokens during the upcoming time. 
Will memecoins record a bullish rebound during the upcoming week amid increased price volatility in the crypto industry? 
<h2 class="wp-block-heading" id="h-dogecoin-records-a-bearish-convergence">Dogecoin Records A Bearish Convergence:</h2> 
Despite increased price volatility in the cryptocurrency industry, the <a href="https://coinpedia.org/price-prediction/dogecoin-price-analysis/">Dogecoin price</a> continues trading in a closed range between $0.128 and $0.155, highlighting a rising disinterest of investors. Moreover, the EMA 50-day acts as a resistance to the price chart, suggesting uncertainty in its price action.&nbsp; 
<figure class="wp-block-image">
 <img decoding="async" src="https://lh7-us.googleusercontent.com/uyEEu35xbziObzzTgy7ph8umxrH7UGfISUJLk0uqtxVlLkfWH2_CVqxezqlwd7qDvEDlGDPemm2o1vOhgCRYqLRkDKWaRQQD9fV_9K7tgE3BeziIbkBSmcxY_wpT_UuigV1fo3isgueTDIiAhGIHm38" alt="Dogecoin Price Analysis">
 <figcaption class="wp-element-caption">
 TradingView: DOGE/USDT
 </figcaption>
</figure> 
Notably, the <a href="https://markets.coinpedia.org/dogecoin/">DOGE memecoin</a> has recorded a correction of 0.10% over the past day with a trading volume of $889.89 Million during the same time, a jump of 49.56% over the past day. 
The Moving Average Convergence Divergence (MACD) shows a constant decline in the histogram, highlighting increased selling-over-buying pressure in the crypto industry. Furthermore, the averages display a bearish convergence in the 1D time frame, suggesting a bearish outlook in the coming time. 
If the market regains momentum, the bulls will prepare to test its resistance level of $0.155 by the upcoming weekend. Conversely, if the bears continue to dominate the market, the DOGE price will plunge toward its crucial support level of $0.128. 
<h2 class="wp-block-heading" id="h-shiba-inu-price-on-the-verge-of-testing-its-important-resistance-level">Shiba Inu Price On The Verge Of Testing Its Important Resistance Level:</h2> 
The second largest memecoin by market cap, <a href="https://coinpedia.org/price-prediction/shiba-inu-price-prediction/">Shiba Inu price</a>, continues to hover close to its important resistance/support level of $0.00002375 since the month’s start, highlighting weak buying and selling pressure for the memecoin in the crypto space. 
<figure class="wp-block-image">
 <img decoding="async" src="https://lh7-us.googleusercontent.com/jdSGR0GPVG6SVM2LFleKWLN-Xq609tXyIWX8Ct3EdDkrA9LBdSuOchWkskIbH5a7uVmBvr9yrj3wYbju2_lWhr4aIHWXfFOoiqvsZw0BRaqC1T3zp6EDLeaVg8mweB96kYOrGiTYHwGdshoYHLlql08" alt="Shiba Inu Price Analysis">
 <figcaption class="wp-element-caption">
 TradingView: SHIB/USDT
 </figcaption>
</figure> 
The <a href="https://markets.coinpedia.org/shiba-inu/">SHIB price</a> has recorded a jump of 4.12% within the past day, indicating a rising interest of investors in it. Furthermore, the SMA displays a high possibility of a bullish convergence, hinting at a potential bullish price movement this week. 
The MACD displays a constant flatline in its chart, suggesting a weak price action for the memecoin in the crypto industry. Moreover, the averages show a neutral trend in its price chart, suggesting uncertainty in future price action. 
If the market pushes the SHIB token above the resistance level of $0.00002375, the bulls will regain momentum and prepare to test its upper resistance level of $0.000030 this month. Negatively, if the bulls fail to regain power, this memecoin will fall towards its support of $0.0000170.

DOGE And SHIB Price Hint At A Bearish Run Amid Increased Volatility! What’s Next?

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