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Bulls could not withstand bears’ pressure this week as all of the top 10 coins keep trading in the red zone.
DOGE/USD
DOGE has followed the drop of Bitcoin (BTC), falling by 1.51% over the past 24 hours.
Analyzing the daily chart, DOGE is returning back to the blue level at $0.1220.
If nothing changes and the selling volume goes up, traders can expect a breakout and further downward move to the $0.1150 mark soon.
DOGE is trading at $0.1255 at press time.
SHIB/USD
SHIB has lost more than DOGE, going down by 4.63% since yesterday, while the drop over the last seven days has reached almost 10%.
From the technical point of view, SHIB is also coming back to its support level at $0.00001695. Respectively, the upcoming week is also likely to be bearish for the meme coin. However, if buyers can return the rate above $0.000020, a correction may occur.
SHIB is trading at $0.00001883 at press time.
Source: https://u.today/doge-and-shib-price-analysis-for-may-8