Watch Out for This SHIB and DOGE Chart: It Lists Things To Happen!

Shiba Inu price produces reasons that are likely to indicate an impending liquidation. Key price levels for SHIB have emerged. Dogecoin price, on the other hand, is moving aimlessly after collecting buy-stop liquidity above equal highs. Therefore, DOGE price is trying to create a directional bias. So a potential drop is possible.


SHIB price shows these key levels

Shiba Inu price is fighting a highly contentious battle in the second trading week of August. Previous views give indications for both the bearish and bullish sides of the token. However, no targets have been successfully breached for now. SHIB price has become very volatile and will most likely resolve the choppy price action in an explosive move. Meme coin is currently trading at $0.00001230. However, there has not been much change in price in recent days. Profitable bulls from last week’s outlook targeting the $0.00001400 region should be very cautious.

Between July 19 and August 8, a downward trend in price emerged. Such a subtle mark has the potential to trigger a sharp decline targeting $0.00001074. Still, the intended target area of ​​$0.00001400 is within arms reach. If the target is exceeded, traders may want to consider realizing profits. Because bearish divergences tend to lead to liquidations after the event. A break below $0.00001217 will show the weakness of the uptrend in Shiba Inu price.

Dogecoin price could drop

Dogecoin price bounced off the control volume point (POC) at $0.066. It then broke the resistance level on the descending trendline to trigger its rise. However, the bullish momentum faltered after rallying liquidity standing above the equally highs at $0.074. As we reported, DOGE is heavily dependent on Bitcoin price. Therefore, the downtrend is likely to continue as long as the Bitcoin price is bearish. A daily candlestick near the POC’s level of $0.066 will confirm the start of a downtrend. In such a case, Dogecoin price will revisit the $0.048 to $0.057 demand zone, which is a major support area. Equally lows at $0.057 are likely to be swept before DOGE triggers an uptrend.

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Therefore, market participants will be able to short $0.057, which is a 19% decrease with this move. However, they may open a long DOGE position after the aforementioned level sweep. In the second scenario, it would allow a 16% rise for Dogecoin price after retesting the $0.074 resistance level. After that, a rise of up to 35% will be possible. While DOGE price awaits further developments, a daily candle close to below $0.048 will invalidate the bullish thesis for DOGE. In such a case, the meme coin is likely to decline, seeking a stable support level at $0.040.

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Larry Brown

I graduated from Yale University, Department of Television. I have been a professional news writer for 3 years. I am continuing my career here by establishing site 3 months ago.