Meme coins Dogecoin and Shiba Inu experience price declines By Investing.com

In the latest cryptocurrency market developments, meme coins Dogecoin (DOGE) and Shiba Inu (SHIB) have experienced a downturn in prices on Tuesday. Despite an increase in DOGE’s intraday volume and 24-hour trading volume, the coin has seen a price decline.

Dogecoin is currently facing the risk of falling to $0.05835. However, if it manages to surpass the $0.06450 mark, it could potentially reach a new high of $0.07195. The coin’s performance hinges on these critical price levels.

On the other hand, Shiba Inu, despite a 3% drop on Tuesday, has managed to maintain a 0.46% weekly gain. The coin is trading slightly above its daily low price. However, there are indicators that suggest potential future decline for SHIB.

The cryptocurrency has exited a positive price channel and a bearish technical flag is looming, suggesting that SHIB might drop to its immediate support level at $0.00000700. However, if the daily Relative Strength Index (RSI) line doesn’t cross below the daily RSI Simple Moving Average (SMA) line, and if SHIB closes above $0.00000755, there is potential for the coin to rise to $0.00000847.

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