Dogecoin (DOGE) has seen a significant surge in trading volume, breaking past the 200-day Exponential Moving Average (EMA). This signals potential positive price movement ahead as DOGE navigates key support and resistance levels, despite moderate trading volume.
After failing to hold near $0.50 in late 2024, DOGE faced a correction, retreating below vital moving averages. However, it has found stability around the 200-day EMA at $0.26. This could signal a rebound, with a key resistance zone at $0.30, which traders should watch closely.
To confirm a bullish trend, DOGE needs to break through the $0.26-$0.28 range. If it can push past the $0.30-$0.32 resistance zone, a significant price rally may follow. Support is at $0.24, and a drop below this level could put DOGE back into a bearish territory.
Shiba Inu (SHIB) is experiencing a rare "golden cross" where the 23-day EMA crosses above the 50-day EMA. Historically, this has been a strong bullish signal. SHIB has recently gained 7.5%, with traders eagerly watching for further signs of upward movement.
DOGE and SHIB are both showing potential for price movement. DOGE faces resistance at $0.26-$0.30, while SHIB's golden cross suggests bullish momentum. However, the volatile nature of meme coins means investors should be cautious, as market sentiment can shift quickly.