Biggest Movers: SHIB 20% Higher, as DOGE Hits 5-Month High

Meme coins were trading importantly higher connected Saturday, arsenic some shiba inu and dogecoin roseate by implicit 20%. Shiba inu rallied to a six-week precocious successful today’s session, arsenic the token broke retired of a cardinal absorption level. Dogecoin extended caller gains, climbing to a five-month precocious successful the process.

Shiba Inu (SHIB)

Shiba inu (SHIB) roseate to a six-week precocious to commencement the weekend, arsenic the token was up by implicit 20% connected Saturday.

SHIB/USD surged to a highest of $0.00001268 earlier today, which comes little than a time aft trading astatine a debased of $0.0000106.

Today’s determination pushed prices of the meme coin to their highest constituent since September 13, breaking retired of a absorption constituent successful the process.

SHIB/USD – Daily Chart

Looking astatine the chart, the aforementioned ceiling was the $0.00001230 level, which has been successful spot since mid-September.

However, SHIB has somewhat slipped from earlier highs, which comes arsenic the 14-day comparative spot scale (RSI) collided with a cardinal constituent of resistance.

The scale is presently tracking astatine 69.38, which is marginally beneath a ceiling astatine the 70.00 mark.

Dogecoin (DOGE)

Dogecoin (DOGE) extended its bull tally for a 5th consecutive session, with the token trading implicit 30% higher successful today’s session.

Following yesterday’s debased of $0.08073, DOGE/USD was capable to ascent to a precocious of $0.1076 earlier today.

As a effect of its gains to commencement the weekend, the meme coin is present trading astatine its highest level since May 11.

DOGE/USD – Daily Chart

In summation to multi-month highs, the RSI is presently tracking astatine 90.37, which is its strongest constituent successful implicit a year.

As discussed yesterday, contempt prices being importantly overbought, the caller crossover of the 10-day (red) and 25-day (blue) moving averages makes it hard for bears to reenter.

This is owed to the information that some abbreviated and semipermanent momentum constituent to an upward trend, which bulls spot arsenic a motion to support marketplace pressure.

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Do you expect meme coins to proceed this inclination for the remainder of the weekend? Let america cognize your thoughts successful the comments.

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