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Dogecoin and Shiba Inu potential for higher levels

Dogecoin chart analysis

The price of Dogecoin has been in a bullish trend for the last few days, and that has brought us to the MA200 moving average of 0.18500. Here we can expect some resistance or consolidation from which the next bullish impulse or bearish price pull will come. Stock exchanges are closed during the Christmas holidays, which will redirect traders from the forex market to the crypto market. This opportunity can be a good extended weekend for crypto traders and cryptocurrency holders.
Bullish scenario:

  • We need to continue this optimistic consolidation and a break above MA200 and 0.19000. Based on that, we can expect Dogecoin to climb to the next resistance at 0.20000 levels.
  • The next target is the previous high at 0.22000 from December 15th. We were there, after the news of the Elon Muscovy tweet about allowing the purchase of Tesla goods with Dogecoin.
  • The break above takes us back to the period of price movements in November, and the first November resistance is in the zone around 0.24000.

Bearish scenario:

  • We need a new pessimistic consolidation and a rejection of the MA200 price, which can lead to a rise in the price of our lower levels.
  • Our first potential support is at 0.16000, and then the MA20 and MA50 moving average cross over to our bearish side.
  • The next support awaits us at the December low of 0.13000.

dogecoin-20211224

Shiba Inu chart analysis

The inflow volume increases as Shiba recovers by 20% after reaching the local bottom at 0.00002826 on 20 December. And after that, the price climbed to the current 0.00003827. The break above the MA200 moving average is positive for us, and now we need a consolidation that will keep us above. If the price manages to form such a consolidation, we can expect a new bullish impulse to continue the bullish trend further.
Bullish scenario:

  • We need to continue this optimistic consolidation from which we expect the next bullish impulse.
  • The first target and resistance can be at 0.00004485 from 03 December.
  • Our next resistance is at 0.00005500 previous attempts to climb above the MA200 moving average.

Bearish scenario:

  • We need a new negative consolidation and a price withdrawal below MA200.
  • Break prices below us to the first potential support at 00003444. Additional support in that zone is our MA20 and MA50 moving average.
  • We are looking for maximum pullback and support at 0.00002826 place in December lower low.

shibainu-20211224

Movement of coins this year

Dogecoin is jumping 15.644% to $ 0.74 per token before suffering a sharp drop to $ 0.17, where it is today. Despite recent losses, Dogecoin’s profit from the year to date still stands at 3,500%.
Shiba Inu gained 47,500,000% this year, despite losing more than half of its value recently. The Shiba Inu token struggles with the acceptance of traders and the adoption of consumers, which harms the sustainable rise in prices. Shiba Inu emerged as an audience favorite in October with a meteoric rise that surpassed even Dogecoin. If you had bought Shiba Ina on January 1 this year and stayed, you would currently be sitting at a profit of 47,500,000%. In other words, a $ 3 investment would return $ 1.4 million. A big part of Shiba Inu’s problem is that few companies accept it as a currency. Only 388 merchants, mostly obscure, believe the token is worth paying for goods and services globally. This lack of support is not surprising given the changes in the price of Shiba Inu, as it would be incredibly difficult for a company to manage cash flow and profitability if the value of the token could change drastically from day to day.

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