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VX: KP92877 QQ: 3908306664 There is no charge to enter the community, no exchanges, no recommended links Both Dogecoin (DOGE) and Shiba Inucoin (SHIB) have been on the decline recently as they fell below key Fibonacci support levels, making subsequent pullbacks more likely to occur. Why Dogecoin Might Drop to $0.17?  The price of Dogecoin is now around $0.195, just above the neckline of the symmetrical triangle, and the downward pressure is obviously increasing. Looking at the 4-hour chart, Dogecoin failed to hold the 0.382 Fibonacci retracement level ($0.1964) and was held down by the 50-day moving average ($0.1979). If the price continues to close below these levels, the price is likely to fall directly to the 0.236 retracement level ($0.1787). This is both a structural support and a psychological barrier. Once it is broken, it will be in trouble.  The RSI is near 45, which indicates that the momentum is weakening and is not oversold yet, which means that the market may still have room for a downward trend. Additionally, the price has been suppressed multiple times near the 100-day EMA ($0.2023), and the descending trendline continues to prove that sellers have the upper hand. To make matters worse, as of October 29, the net outflow of Dogecoin has reached 14.5 million US dollars, and market funds continue to withdraw. Unless the buyer can get back $0.21, there is a high probability that it will continue to fall to $0.17 to $0.15. This range corresponds to the bottom of the previous consolidation and is also consistent with the measured decline of the triangle shape.  Will SHIB drop to $0.0000085? SHIB price is now around $0.0000103, trapped in a symmetrical triangle that has been shrinking since mid-October. It has been under pressure below the 50-day moving average ($0.00001026) and the downtrend line from the October high, an area it has failed to break three times before. The support at the 0.382 Fibonacci retracement level ($0.00001022) is beginning to crack, and once broken, the next support is the 0.236 level ($0.00000956).  If the decline accelerates, the triangle's measurement target is likely to hit $0.0000085, which is roughly around the October bottom. The trading volume is decreasing, but the super trend indicator is still red, indicating that the selling pressure is still there. Unless SHIB can stand firmly at US$0.0000110~0.0000113, the smoothest path is to go down. Why is it important The total market value of emoji coins is still around US$57 billion, but the latest chart shows that although daily trading volume has increased by 14%, the market value is falling. This shows that money is changing places and no new money is coming in. Dogecoin and SHIB are facing greater liquidity pressure. If both coins fall below key Fibonacci levels, it’s not just them—the entire meme coin market could be affected. That’s it for today’s article. We are currently in a bull market and the situation is turbulent. We share passwords every day. If you don’t know what to do in the bull market, you are welcome to scan the code to join the group for free. The spot code and layout strategy of the bull market can be shared for free. Let us embrace the bull market, improve our winning rate, and say goodbye to high positions. Scan the QR code below to join us VX：KP92877  If you can’t add it via WeChat above, you can contact the author on the homepage! Prevent loss of contact QQ: 3908306664  |
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