Today, Shiba Coin witnessed an impressive surge, with Bitcoin prices closing above $65,000, boosting market sentiment. It is likely that other altcoins will follow this upward trend. If Bitcoin maintains its strength in the upcoming hours, we could see new peaks for SOL, SHIB, and BABY DOGE. Let’s review the current predictions.
Solana (SOL)
We previously highlighted that the price drop to $120 at the beginning of September could provide a short-term buying opportunity. Indeed, investors who bought at this level have seized this chance at least six times since March. SOL Coin has made multiple attempts to rise from $120 to the $156 range, offering a profit opportunity of approximately 30% each time. Now, closing above $150 continues. The next critical target is the $162 level, where selling pressure could intensify as seen in previous attempts. A supportive environment is present for SOL Coin bulls, especially if Bitcoin aims for $68,000 above $65,000.
Shiba Coin
As the second-largest meme coin by market capitalization, Shiba Coin rose approximately 30% today. It peaked at $0.00001937, encountering profit-taking, yet remains above the support at $0.00001742. This situation indicates that a test of the previously mentioned parallel channel support is still feasible. If the level of $0.00001937 is broken with significant volume, the next target will clearly be the parallel channel support at $0.00002093. However, such rapid rises have not been common for Shiba recently. Thus, a retreat to the support level could lead to another attempt and possibly a test at $0.00002609. Closing above $0.00002952 would reflect a new appetite for all-time highs.
Baby Dogecoin
Previously, Baby Dogecoin has rapidly surged, returning half of its gains, but it has yet to do so this time. If BABY DOGE can maintain its position, it could signal the end of the downtrend and the potential for a new all-time high. The area below $0.000000001804 might witness increased selling pressure. The upper wicks indicate that profit-taking is prevalent, making the next 48 hours potentially risky.
Overall, current market fluctuations demonstrate significant growth in several cryptocurrencies, including Shiba Coin, SOL, and Baby Dogecoin. Market attention is focused on whether these cryptocurrencies can maintain their new levels and continue the upward trend.
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