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DOGE and SHIB Price Analysis for August 4


Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Bears have turned out to be more powerful than bulls as the top 10 coins are red again.

Top coins by CoinMarketCap

DOGE/USD

DOGE could not withstand bears’ pressure, going down by 1.41%.

DOGE/USD chart by TradingView

However, the situation has not changed crucially from the midterm point of view as the meme coin keeps trading in a wide range between the support level at $0.04978 and the resistance at $0.07759.

Sideways trading is also confirmed by low volumes on the daily chart. All in all, one should expect consolidation in the zone of $0.065-$0.07 for the next few days.

DOGE is trading at $0.06881 at press time.

SHIB/USD

SHIB has followed the drop of DOGE, falling by 1.35%.

SHIB/USD chart by TradingView

Despite today’s decline, SHIB is located near the resistance level at $0.00001297. However, buyers need the daily candle to fix above $0.00001250 so they can finally seize the initiative and restore the midterm rise.

SHIB is trading at $0.00001189 at press time.



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