What Does Technical Analysis Say About Dogecoin And Shiba Inu?
Portfolio Pulse from Khyathi Dalal
Technical analysis of Dogecoin (DOGE) and Shiba Inu (SHIB) shows bullish trends for both, with DOGE's RSI at 50.5 indicating neutrality and SHIB's RSI at 33.3 suggesting potential oversold conditions. Both coins lead the $50.7 billion meme coin market, with significant holder profitability and adoption milestones like Shiba Inu's blockchain launch and Dogecoin's acceptance by Tesla.
May 10, 2024 | 6:46 pm
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POSITIVE IMPACT
Dogecoin shows a bullish trend with a neutral RSI, indicating stability. Recent adoption by Tesla and a strong holder base suggest continued interest and potential for price stability or growth.
The bullish trend indicated by the SMA and the neutral RSI position suggest that Dogecoin is currently stable with potential for growth, especially considering its adoption by Tesla and the strong holder profitability.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
Shiba Inu's bullish trend and RSI suggest it's potentially oversold, indicating a buying opportunity. The coin's blockchain launch and inclusion in the VanEck Meme Coin Index may drive adoption and price.
Shiba Inu's position above critical SMA lines and an RSI close to oversold conditions suggest a bullish outlook. The recent blockchain launch and index inclusion are significant for adoption and could positively impact its price.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 90