Dogecoin (DOGE) and Shiba Inu (SHIB) on the Move: January Price Analysis
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Dogecoin (DOGE) and Shiba Inu (SHIB) on the Move: January Price Analysis

  • Cryptocurrency giants DOGE and SHIB experienced a tumultuous day on January 15, with DOGE’s 1.84% dip and SHIB’s 2.86% drop reflecting the volatile market.
  • Both face critical zones—DOGE struggling at $0.08, while SHIB contends with the resistance at $0.000010, leaving investors on edge amidst the ongoing battle between bulls and bears.

January 15th 2024 price analysis

Cryptocurrency enthusiasts and investors witnessed a rollercoaster ride on January 15 as both Dogecoin (DOGE) and Shiba Inu (SHIB) faced price fluctuations. Let’s delve into the price analysis to understand the current market dynamics.

DOGE/USD: Bears Testing Support Levels

Over the last 24 hours, the price of DOGE experienced a decline of 1.84%, reflecting the volatility in the crypto market. On the hourly chart, DOGE is striving to stabilize above the $0.08 zone. The challenge lies in its ability to secure this position, as failure could empower bears to regain control. If the current trend persists, there’s a possibility of a test of the support level at $0.075 in the near future. At the time of writing, DOGE is trading at $0.08050.

Bears Lurking as DOGE Seeks Stability

Investors and traders are closely watching the $0.08 zone, as its fate could determine the short-term trajectory of DOGE. If the support level at $0.075 is breached, it might signal a more prolonged bearish phase.

SHIB/USD: Following the Trend with a 2.86% Drop

Shiba Inu (SHIB), like DOGE, is not exempt from the prevailing market trend, experiencing a 2.86% decline over the last 24 hours. From a technical standpoint, SHIB’s trading pattern mirrors that of DOGE. Sellers remain persistent, keeping the price below the crucial zone of $0.000010.

Investors in SHIB are facing a similar challenge as their DOGE counterparts, as the battle between bulls and bears unfolds in the crypto arena. The $0.000010 zone remains a critical threshold, and if the current trajectory persists, SHIB may undergo further testing times in the coming days.

The Battle Continues: SHIB Grapples with Resistance

As SHIB attempts to break free from the bearish grip, the $0.000010 zone serves as a battleground. Traders are keenly observing whether SHIB can overcome this resistance or if a deeper correction is in the cards.

In conclusion, the crypto market continues to be a dynamic landscape, with DOGE and SHIB showcasing the inherent volatility. Traders should exercise caution and closely monitor key support and resistance levels to make informed decisions in these turbulent times.

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