SHIB traded about 15% higher in today’s session, its price approaching a 10-day high. DOGE, another meme coin, also turned green on Tuesday, with its price hitting its highest level since June 12.
Shibai Inu (SHIB)
SHIB continued to move away from this weekend’s lows and was green again on Tuesday.
Over the weekend, SHIB/USD fell to an intraday low of $0.00000707, the lowest since October 2021.
Prices then regained momentum and hit an intraday peak of $0.000009556 today.
This is the highest price the meme coin has traded since June 12, when bulls are trying to retake a key resistance point.
Looking at the chart, this ceiling appears to be at the $0.00001135 point, which has not seen a true breakout since early May.
Overall sentiment in the SHIB appears to have turned bullish, with relative strength currently at its highest point since April.
Doogie Coin (DOGE)
The token has been steadily building gains since Elon Musk announced he would continue to support DOGE despite its recent price decline.
These gains have helped the price of DOGE/USD climb to an intraday high of 0.0668 in today’s session, the highest price it has traded at in nine days.
Overall, prices bottomed at 0.0494 on Saturday, a 15-month low, and are now up nearly 20%.
However, this momentum could be challenged as the 14-day RSI appears to have reached a key resistance point.
This is the 44.50 ceiling, which has not been broken since May 3, when DOGE was trading at $0.1330.
If this level is broken, there could be a further influx of bullish forces trying to push prices back toward that point.
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