Crypto Analyst Warns About Dogecoin, Shiba Inu Amid Uneasy Market: Not An 'Interesting Buy'
Portfolio Pulse from Bibhu Pattnaik
Cryptocurrency analyst Altcoin Sherpa has warned about potential vulnerabilities in Shiba Inu (CRYPTO: SHIB) and Dogecoin (CRYPTO: DOGE). The analyst suggests that if Dogecoin loses its immediate support level, a significant downward correction could occur. Similarly, Shiba Inu is said to be in a bearish pattern, setting macro lower highs and lower lows.
August 27, 2023 | 12:52 pm
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NEGATIVE IMPACT
The analyst warns that if Dogecoin loses its immediate support level, a significant downward correction could occur. Currently, DOGE is trading at $0.0631, down by almost two percent in the last seven days.
The analyst's warning about potential vulnerabilities in Dogecoin, coupled with its recent price decrease, suggests a negative short-term impact on the cryptocurrency's price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
The analyst suggests that Shiba Inu is in a bearish pattern, setting macro lower highs and lower lows. Currently, SHIB is trading at $0.000008131, down by 4 percent in the last seven days.
The analyst's warning about Shiba Inu's bearish pattern, along with its recent price decrease, suggests a negative short-term impact on the cryptocurrency's price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100