Dogecoin and Shiba Inu Prices Slide Amid Increased On-Chain Activity
- Surge in Network Activity: Despite a 36% increase in active addresses for Dogecoin (DOGE) over the past week, reaching 71,400, the price fell by 3% to approximately $0.102, indicating a disconnect between network usage and price action, reflecting a lack of confidence in the market for these tokens.
- Continued Price Decline: Dogecoin is currently trading at around $0.102, having lost over 90% of its value from its peak market cap of $90 billion in 2021, with projections suggesting a potential drop to $0.05 by 2026, highlighting its lack of fundamental catalysts and real use cases.
- Increased Volatility for Shiba Inu: Shiba Inu (SHIB) hit a monthly low of $0.0000065 on February 1, 2023, and is currently priced at $0.00000641, reflecting a 92% drop from its all-time high in 2021, demonstrating its sensitivity to market sentiment and liquidity.
- Significant Challenges Ahead: The Shiba Inu ecosystem faces challenges such as weak daily transaction volumes and a lack of sustained utility, despite plans to integrate Fully Homomorphic Encryption (FHE) in Q2 2026 to enhance privacy and security; however, there are no signs of a near-term reversal, with critical support at $0.00000638.
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Technical Analysis for DOGE
Technical Sentiment Analysis for Dogecoin (DOGE) As of , Dogecoin (DOGE) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 4 technical signals, shows that 1 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for DOGE stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, DOGE is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Dogecoin (DOGE) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.0434 | 0.0617 | 0.0821 | 0.1 | 0.121 | 0.139 | 0.16 |
| Fibonacci | 0.0617 | 0.0765 | 0.0856 | 0.1 | 0.115 | 0.124 | 0.139 |
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