Dogecoin and Shiba Inu surged briefly this week but remain stuck below formidable resistance zones that have repeatedly blocked additional upside.
Both Dogecoin and Shiba Inu face increasing pressure to stage upside breakouts to confirm near-term bottoms. However, should either crypto stall or roll over, significant technical carnage likely awaits these two top meme coins.
Also read: Ripple: When Can XRP Hit $394 To $594 Range?
Dogecoin price performance
DOGE currently battles to build support above its 100-day moving average, losing steam after reclaiming the $0.082 level that previously hindered its upside attempts.
It now fights to stay constructively above $0.080 or risk violating a longer-term symmetrical triangle continuation pattern.
Shiba Inu price performance
Shiba Inu tells a similar story after briefly surging following the recent swing lows. However, the all-important $0.000010 barrier halted the meme coin, as it did last October. Now SHIB hovers under resistance, although it is still up versus mid-January.
Also read: Shiba Inu (SHIB) Forecasted To Reach $0.001: Here’s When
For both tokens, declining trading volumes and ambiguous directional indicators suggest buyer conviction remains lacking to decisively reverse the brutal downtrends intact since 2021.
Who will eliminate a zero soon?
According to Changelly analysts, Shiba Inu is likely to eliminate a zero by the end of February. However, the predictions reveal that DOGE is likely to eliminate a zero from its price by 2025.
Increased volatility is expected with monthly closes approaching. But without key trendline breaks, upside targets like $0.10 for DOGE and $0.00001 for SHIB remain elusive dreams. A broader crypto recovery could bail out the top meme coins.
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