Biggest Movers: SHIB Surges to 3-Month High to Start the Weekend
Shiba inu was a notable gainer during Saturday’s session, as the meme coin climbed to a three-month high. The move comes as traders continue to react to Binance’s decision to approve the coin as a collateral asset, in addition to the upcoming launch of Shibarium. Dogecoin also snapped its recent losing streak today.
Shiba Inu (SHIB)
Shiba inu (SHIB) jumped to a three-month high on Saturday, with prices surging by as much as 10%.
Following a low of $0.000008551 on Friday, SHIB/USD surged to a peak of $0.000009509 earlier in today’s session.
This resulted in the meme coin climbing to its strongest point since May 6, when price reached a high of $0.00001007.
Looking at the chart, the move comes as the 14-day relative strength index (RSI) moved past a resistance level of 67.00.
At the time of writing, the index is tracking at 73.62, which is its highest level since February.
Should momentum continue throughout the weekend, the next target for bulls is likely to be a ceiling at $0.00001025.
Dogecoin (DOGE)
In addition to SHIB, dogecoin (DOGE) also rose higher today, snapping a three-day losing streak in the process.
DOGE/USD rallied to a high at $0.07628, less than 24 hours after the meme coin was at a low of $0.07279.
As a result of this surge in price, DOGE is now trading at its highest point since Wednesday, after breaking out of a resistance zone of $0.0760.
This coincided with the RSI moving past its own ceiling at the 52.00 mark. It is currently at a reading of 55.84.
Despite today’s rally, dogecoin is still trading nearly 3% lower than at the same point last weekend.
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Can meme coins continue to rally this weekend? Let us know your thoughts in the comments.
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Biggest Movers: SHIB Surges to 3-Month High to Start the Weekend
Shiba inu was a notable gainer during Saturday’s session, as the meme coin climbed to a three-month high. The move comes as traders continue to react to Binance’s decision to approve the coin as a collateral asset, in addition to the upcoming launch of Shibarium. Dogecoin also snapped its recent losing streak today.
Shiba Inu (SHIB)
Shiba inu (SHIB) jumped to a three-month high on Saturday, with prices surging by as much as 10%.
Following a low of $0.000008551 on Friday, SHIB/USD surged to a peak of $0.000009509 earlier in today’s session.
This resulted in the meme coin climbing to its strongest point since May 6, when price reached a high of $0.00001007.
Looking at the chart, the move comes as the 14-day relative strength index (RSI) moved past a resistance level of 67.00.
At the time of writing, the index is tracking at 73.62, which is its highest level since February.
Should momentum continue throughout the weekend, the next target for bulls is likely to be a ceiling at $0.00001025.
Dogecoin (DOGE)
In addition to SHIB, dogecoin (DOGE) also rose higher today, snapping a three-day losing streak in the process.
DOGE/USD rallied to a high at $0.07628, less than 24 hours after the meme coin was at a low of $0.07279.
As a result of this surge in price, DOGE is now trading at its highest point since Wednesday, after breaking out of a resistance zone of $0.0760.
This coincided with the RSI moving past its own ceiling at the 52.00 mark. It is currently at a reading of 55.84.
Despite today’s rally, dogecoin is still trading nearly 3% lower than at the same point last weekend.
Register your email here to get weekly price analysis updates sent to your inbox:
Can meme coins continue to rally this weekend? Let us know your thoughts in the comments.
Read More