Shiba Inu (SHIB) and Dogecoin (DOGE) are the two prominent meme coins in the cryptocurrency market. SHIB is frequently compared to Dogecoin in terms of market position. The token’s performance in 2024 has been noteworthy.
As of now, SHIB is trading at approximately $0.00002258 following a period of consolidation. The token appears to be in a position where it could potentially experience its next price movement. DOGE, on the other hand, is trading at $0.1553 with a 4.7% drop in value over the last 24 hours.
With the cryptocurrency market being volatile, here is our price prediction for Shiba Inu and Dogecoin for this week.
Also read: Cryptocurrency: Whales Scooped Up These Coins Amidst Market Dip
How high can Shiba Inu go this week?
According to Changelly analysts, SHIB is expected to trade at a minimum of $0.00002294 and a maximum of $0.00002832 during this week. The forecast also highlights that SHIB can almost reach the $0.00003 level.
Historically, Bitcoin’s performance has often served as a catalyst for price movements in other cryptocurrencies. SHIB’s most significant price increases coincided with BTC reaching new highs during its climb towards $73,000. As Bitcoin is considered a key indicator of overall market sentiment, its ability to break through previous resistance levels often leads to a market-wide upswing, particularly for more speculative altcoins.
Also read: Shiba Inu: This Pattern Suggests A SHIB Surge To $0.000045
Can Dogecoin hit $0.2 this week?
Various factors, such as market conditions, price action, developments, supply, and use cases, will determine whether Dogecoin price predictions shoot up this week.
Based on Dogecoin’s behavior at the start of 2024, cryptocurrency experts at Changelly predicted the price of DOGE for this week. For this timeframe, DOGE’s minimum price is anticipated to be $0.160. The maximum price expected is $0.162. According to Changelly analysis, DOGE is unlikely to hit the $0.2 level this week.
Also read: Cryptocurrency: 3 Coins To Buy Amidst The Market Dip
The accuracy of these predictions, however, remains uncertain, as they can easily be influenced by overall market conditions.
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