Price drops of 13% for DOGE and SHIB rallys have paused. New predictions?

• Dogecoin held on to its support while Shiba Inu Bears had a relatively higher success rate
• This week, we expect the bearish pressure to increase.

Dogecoin [DOGE] The following are some examples of how to get started: Shiba Inu [SHIB] Since the dawn of the fourteenth of march, both have lost more than 15%. It was accompanied by weakness in Bitcoin [BTC] Which bulls could not defend the level of $70k.

Although the price movement indicated the meme coin was headed to more losses, the overall trend continued to be bullish. Investors and traders may be worried about the prospect of a long consolidation period in the coming months and weeks.

Memecoins may see an even greater pullback

Doge/USDT TradingView

Dogecoin’s 12-hour chart shows that $0.159 has been held over the last week. The bullish market structure would continue until the prices fell below $0.126.

As of the press release, the RSI had been falling in the past ten day and was almost below the neutral mark 50. It would be a sign of a change in momentum to the bears. In March the OBV saw a slight dip, but not enough to change the downward trend.

Fibonacci’s levels indicated that, upon a second test, the support levels of $0.1085, $0.0129 and $0.144 would offer buying opportunities. Investors should be aware of the possibility that DOGE could experience a prolonged consolidation period following its recent rapid rise.

TradingView: Source for SHIB/USDT

Shiba presented an outlook similar to Dogecoin. Although sellers are not yet the majority, the interest in meme coins is beginning to fade. At the time of press, the 12-hour chart showed an RSI at 48.

If the price falls below $0.0000255, the structure of the market will shift to the downside on lower timeframes. SHIB could fall down to the levels of 61.8% – 78.6%. OBV has not dropped dangerously, which gives bulls hope.

The bulls will have a strong outlook for SHIB in the upper timeframes, but a potential deep pullback can present a great buying opportunity. You can assess the lower timeframes to determine when bulls will be in control.

Early March was the peak of on-chain sales activity

Source: Santiment

What is the cost? 1, 10, or 100 DOGE worth today?

Both meme coins saw massive gains in February – 382% for SHIB, and 145% DOGE. Shiba Inu and Dogecoin saw their dormant distribution spike dramatically on 2nd March.

The large movements of tokens could indicate a possible pressure to sell by profiteers. DOGE’s sentiment remained positive, but Shiba inu was more neutral on social media.

Disclaimer: Information presented on this site is for informational purposes only. financialThe writer is not providing any investment advice, trading or other type of financial guidance.