Bittime - With a focus on Dogecoin (DOGE) and Shiba Inu (SHIB), the volatility recorded in the broader crypto ecosystem has greatly impacted memecoins. In the following seven days, Shiba Inu fell 10.65%, dropping to as low as $0.000022.
The amount of Dogecoin also fell more than eleven percent to a weekly low of $0.142. Amidst this chaos, significant on-chain technical data shows an inevitable increase of over one hundred percent.
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Dogecoin Bulls Will Take Profit
With the coin's Relative Strength Index (RSI) standing at 45, slightly higher than 34 on May 1, the oversold trend on Dogecoin's daily chart currently suggests the bullish odds are turning.
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Dogecoin Price Increase Prediction
Since Dogecoin is trading above the 200 Moving Average (MA) but below the 50 day MA, there is a signal. It is difficult to predict just one DOGE price increase because this asset class is so volatile.
Broader market sentiment remains an important factor that could help maintain a modest increase in Open Interest (OI). Coinalyze reports that OI is currently up 0.87% to $645.6 million.
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The Shiba Inu Leads By Example
Shiba Inu has grown more than 116% annualized (YTD) in the last few weeks. With the recent decline, the RSI dropped to 42. According to the Moving Average Convergence Divergence (MACD), Shiba Inu is expected to experience an unprecedented trend shift. Unlike Dogecoin, there are a lot of fundamentals driving it, such as an ever-increasing burn rate.
How To Buy Crypto With Bittime
You can buy and sell crypto assets in an easy and safe way via Bittime . Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.
Learn How to Buy Crypto on Bittime.
Monitor price chart movements of Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
Read more:
Shiba Inu Shiba Inu Announces Shibarium Hard Fork on May 2
What Is Shiba Inu Tokens (SHIB)? Concept and Function
FLOKI Soars 212%, Will It Displace Shiba Inu?
DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
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