SHIB and DOGE Price Analysis for November 8

Trouble may lie ahead for the infamous memecoins.
DOGE & SHIB
DOGE & SHIB

Disclaimer: The opinion expressed in this article is opinion only and should not be taken as financial advice. Coinmash has no involvement with any assets discussed and urges everyone to do their own research before making any financial decisions.

SHIB & DOGE don’t seem to be following the rest of the market with a bearish start to the trading week.

source: coinmarketcap

SHIB/USD

SHIB price is down 1.94% over the last day and down 5.40% on the week.

source: tradingview
SHIB/USD 1D Chart

SHIB price shot up to a month-high of $0.00001518 after bouncing off the support level at $0.00000950. SHIB is currently trading sideways between the $0.00001327 resistance and $0.00001165 support level. Traders should watch between $0.000012 zone as a dip below resistance could signal for a bearish trend towards lows of $0.00001.

SHIB is currently trading at $0.00001181 at press time.

DOGE/USD

DOGE price is down 5% on the day and 13.8% on the week with little to no sign of uptrend.

source: tradingview
DOGE/USD 1D Chart

DOGE saw an astronomical increase from $0.06 lows to a high of $0.1589 after news of Elon Musk’s Twitter acquisition rumoured the integration of Dogecoin for user payments and rewards. DOGE now holds little to no sign of stability at current highs with dipping below March resistance levels of $0.1115. If DOGE fails to bounce back to zones of $0.1200, the bears are likely to drive the price back down to previous lows.

DOGE is currently trading at $0.1117 at press time.

Disclaimer
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About the Author
Liam Peak
Liam Peak
Liam is the founder and head editor at Coinmash. Occasionally he'll share a thought or two, and cover some breaking news surrounding Web3.