SHIB and DOGE Secure Weekend Support to Approach Weekly Highs

Bullish actions welcome Sunday, with Shiba Inu and Dogecoin planning to consolidate yesterday’s gains and eye current weekly peaks during the day.

  • Dogecoin and Shiba Inu saw bullish sessions on Saturday.
  • The meme tokens received upside support from the broad cryptocurrency market sentiment.
  • Primary technical indicators display bullishness, with SHIB steadying beyond the 200-day Exponential Moving Average and DOGE beyond the 50-dayEMA.

The meme coins SHIB and DOGE recorded bullish moves on Saturday. The upside motion emerged as the overall crypto market presented bullish sentiment. For now, the canine-themed crypto eyes current weekly peaks after securing support during the weekend.

Dogecoin gains 3.97% to partially reverse Friday’s 4.32% drop, ending Saturday at $0.1361. Also, Shiba Inu gained 1.33% to moderately erase the 2.27% drop from Friday, hovering around $0.00002444 as yesterday ended.

Elsewhere, the altcoin market saw increases. ADA gained 5.10%, leading the day’s gainers. Avalanche (2.95% sure) and Solana (up 3.18%) also secured dependable support. Modest gains came from LUNA (1.56% high), XRP (1.02% gain), BNB (1.39% rise) and Ethereum (1.36% surge).

Crypto Markets Sentiment

Saturday did not see massive headlines to improve market sentiment. Meanwhile, BTC’s gradual move towards the $45K mark ensures broad market support. Bitcoin gained 0.77% on Saturday, ending its day at around $44,536.

Dogecoin Price Action

Dogecoin traded near $0.1373, at this writing, following a 0.88% upsurge. Bullishness early on the day saw the meme token testing its first crucial resistance around $0.1390 before retracements surfaced.

DOGE should keep the day’s pivot of $0.1341 for another surge towards the resistance at $0.1390. Broad market support remains essential for the crypto to surge past $0.1380. Extended upside will see the coin testing the second hurdle at $0.1420. DOGE’s third resistance stands at $0.1499.

Losing ground near the pivot would see DOGE hitting the first crucial support at $0.1311. The token should avoid sub-$0.1300 barring continued declines. The 2nd dependable support stands at $0.1262.

Shiba Inu Price Action

While publishing this blog, SHIB traded 0.90% up at $0.00002466. Bullish actions earlier on the day had the crypto testing the initial resistance at $0.0000248 before retracing. Keeping the pivot at $0.0000244 would trigger a move towards the resistance at $0.0000248. Global market support would support the coin beyond its morning peak at $0.00002478.

Extended surges would see BTC testing the 2nd resistance at $0.0000252. SHIB’s third resistance sits near $0.0000261.

Losing the pivot zone will trigger downswings towards the initial support at $0.0000240. Shiba Inu will discover the second support at $0.0000235. This value area should limit Shiba Inu’s downside.