DOGE and SHIB Price Analysis for August 4


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Bears have turned out to be more powerful than bulls as the top 10 coins are red again.

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Top coins by CoinMarketCap

DOGE/USD

DOGE could not withstand bears’ pressure, going down by 1.41%.

DOGE/USD chart by TradingView

However, the situation has not changed crucially from the midterm point of view as the meme coin keeps trading in a wide range between the support level at $0.04978 and the resistance at $0.07759.

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Sideways trading is also confirmed by low volumes on the daily chart. All in all, one should expect consolidation in the zone of $0.065-$0.07 for the next few days.

DOGE is trading at $0.06881 at press time.

SHIB/USD

SHIB has followed the drop of DOGE, falling by 1.35%.

SHIB/USD chart by TradingView

Despite today’s decline, SHIB is located near the resistance level at $0.00001297. However, buyers need the daily candle to fix above $0.00001250 so they can finally seize the initiative and restore the midterm rise.

SHIB is trading at $0.00001189 at press time.


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