DOGE, SHIB and BONK Price Analysis for January 3

3 January 2024

in DOGE

Reading Time: 2 mins read

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A big correction has arrived on the cryptocurrency market, according to CoinMarketCap.

Top coins by CoinMarketCap

DOGE/USD

The rate of DOGE has dropped by 11% since yesterday.

Image by TradingView

On the daily chart, the price of DOGE has reached the support level of $0.08380. If the bar closes below it, the meme coin will return to the bearish zone. In that case, the correction might continue to the $0.07 area.

DOGE is trading at $0.08227 at press time.

SHIB/USD

SHIB has followed the dumping of other coins, going down by 15%.

Image by TradingView

The rate of SHIB keeps declining after a failed attempt to fix above the $0.00001136 mark. From the technical point of view, bears have seized the initiative; however, the price is far from the support and resistance levels.

All in all, sideways trading in the area of $0.000008-$0.00000950 is the more likely scenario for the next few days.

SHIB is trading at $0.00000924 at press time.

BONK/USD

BONK is the biggest loser today, falling by more than 20%.

Image by TradingView

The rate of BONK has broken the support level of $0.00001238, entering the bearish zone. Until the price is below that mark, there are chances to see a further downward move. If that happens, traders may see a test of the $0.0000090 area soon.

BONK is trading at $0.00001124 at press time.

About the author

Denys Serhiichuk

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins.

Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing, ATB Coin, and others, can be contacted at denys.serhiichuk@u.today.