Famous Crypto Analyst Predicts the Future of DOGE and Shiba Coin - COINTURK NEWS
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Famous Crypto Analyst Predicts the Future of DOGE and Shiba Coin

11:34 pm (105 days ago)
August 26, 2023

Bitcoin continues to struggle to create a flat line this weekend. BTC remains stable. However, this is not good news for altcoins. Last week, Bitcoin’s price stability triggered significant losses in other cryptocurrencies. Now, a popular analyst is making predictions for DOGE and Shiba Coin.

Predictions of the Famous Crypto Analyst

A popular analyst, closely followed by many, shared his latest prediction about the markets with his followers approximately 24 hours ago. While altcoins Sherpa show signs of weakness, meme coins Dogecoin (DOGE) and Shiba Inu (SHIB) are being warned about.

“DOGE has returned from this latest key level of $0.057. This is an interesting area, but I don’t think it’s necessarily a buy. You can sit here and buy, but we probably won’t see the price experience a significant rise. So, waiting might be a better option.

If it loses the $0.057 level, it could test $0.045. Personally, I don’t find Dogecoin attractive at the moment, but we’ll wait and see.”

Shiba Coin (SHIB)

The same analyst also mentioned Shiba Coin, which has returned to the agenda with the Shibarium launch. Shiba Coin, which has a significant number of investors, has achieved successful works, especially in creating its own ecosystem. The latest exciting move from them was the Layer2 solution Shibarium. However, due to the problems in the network, it did not provide the expected contribution. Moreover, the mainnet turned into a sell-off event.

Altcoin Sherpa said the following;

“SHIBA Coin had a nice price increase, but it quickly retraced and experienced a kind of break at the 200-day EMA (exponential moving average) – similar to Dogecoin. Now it is approaching support levels again. I think the $0.00000742 level looks risky in the short term, and this area can be visited. Shiba Coin still has a bearish market structure.”

Disclaimer: The information in this article does not constitute investment advice. Investors should be aware that cryptocurrencies are highly volatile and carry risks, and should conduct their own research.

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