Dogecoin was consolidating in today’s session following a volatile few trading days last week. MemeCoin rose nearly 30% last Monday and then lost those gains as the week matured. Shibabu was mostly flat.
Dogecoin (DOGE)
Dogecoin (DOGE) moved slightly higher on Monday as prices began to settle following recent volatility.
Last Monday, the meme coin rose about 30%, hitting a four-month high in the process.
Prices have since fallen, with meme coins hitting a bottom of $0.08204 early in today’s session.
DOGE/USD reached a peak of $0.08383 on Monday, as the Relative Strength Index (RSI) approached the 55.00 ceiling.
As of this writing, the index is hovering at 52.83, this after the bulls rejected a breakout below the 51.00 floor.
If the RSI moves toward the 55.00 mark, it is more likely that DOGE will trade above $0.0850.
Shibainu (SHIB)
Shibainu (SHIB) ended the week mostly flat as meme coins continued to consolidate on Monday.
After Sunday’s low of $0.00001085, SHIB/USD rose to a peak of $0.00001099 during today’s session.
As a result, SHIB continues to trade below the $0.00001100 intermediate resistance level.
The chart shows that despite the upward cross between the 10-day (red) and 25-day (blue) moving averages, there is some price uncertainty.
In addition to this, the RSI remains below the important ceiling of 50.00, which also appears to be the reason for the current volatility.
The bulls need to break out of these levels to regain market sentiment.
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Image Credits: Shutterstock, Pixabay, Wiki Commons, Dennis Diatel / Shutterstock.com.
