DOGE and SHIB Price Analysis for May 15


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Denys Serhiichuk

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Can the meme coins bounce back faster than most of the other cryptocurrencies?

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Bulls are slightly recovering their positions, according to the CoinMarketCap ranking.

Top coins by CoinMarketCap
Top coins by CoinMarketCap

DOGE/USD

DOGE could not follow the bounceback of most of the other coins with a decline of 1.34% over the last 24 hours.

DOGE/USD chart by TradingView
DOGE/USD chart by TradingView

DOGE keeps trading sideways after the false breakout of the formed support level at $0.07 on the daily chart. The volume has declined, which means that the meme coin needs more time to accumulate power for a further sharp move.

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In this case, sideways trading between $0.0850 and $0.0950 is the more likely scenario for the next few days.

DOGE is trading at $0.0879 at press time.

SHIB/USD

Unlike DOGE, the rate of SHIB has increased by 1.09%.

SHIB/USD chart by TradingView
SHIB/USD chart by TradingView

Despite the growth, SHIB is trading close to the support level at $0.0000110, which means that buyers still lack power to start the short-term growth. If sellers’ pressure continues and the daily candle closes near $0.000011, there is a possibility of expecting the decline to the $0.000010 mark soon.

SHIB is trading at $0.00001224 at press time.


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