At the beginning of the week, bears have proven to be stronger than bulls, affecting the main cryptocurrencies' rates. Let's consider the current market changes for DOGE and SHIB.
DOGE Price Change
The rate of DOGE has declined by 1.52% since yesterday. Despite the fall, the price of DOGE is trading sideways on the daily chart. As neither side is dominating, traders are unlikely to see sharp moves anytime soon. In this regard, consolidation in the narrow range of $0.30-$0.33 might be expected over the next few days. DOGE is trading at $0.3139 at press time.
SHIB Prospects
The price of SHIB has dropped by 1.17% over the last 24 hours. On the daily time frame, the rate of the meme coin is near the support of $0.00002107. If it breaks out, there is a possibility to see a dump to the $0.000020 area. Such a scenario is relevant until the end of the week. SHIB is trading at $0.00002178 at press time.
Overall Market Trends
Bears continue to dominate the cryptocurrency market, indicating potential price changes in the near future. Several key cryptocurrencies, including DOGE and SHIB, are showing declines, which may foretell more significant market movements.
Bearish sentiment in the crypto market is intensifying, suggesting further changes in DOGE and SHIB rates in the near future. Traders should closely monitor market developments and consider potential scenarios.
