After weeks of uncertainty, Dogecoin is starting to show signs of recovery as its price steadily rises. DOGE is currently trading at $0.10, slowly approaching the second decimal point zero — a psychological barrier that could mean new life for the meme-based cryptocurrency.
Based on recent price action, Dogecoin has gained nearly 2% in the last day after rallying from support levels around $0.09. This rally coincides with a pattern of higher lows for DOGE, suggesting a potential uptrend is forming.
Additionally, market dynamics have shifted slightly in Dogecoin’s favor. If Bitcoin and other leading cryptocurrencies maintain their relatively neutral market position, increased social media activity and renewed interest from retail traders could help push the price higher.
The Relative Strength Index (RSI) for Dogecoin is around 45, indicating that it is neither overbought nor oversold, allowing for future gains without immediately facing strong selling pressure.
The rally could start if the price continues to rise and breaks important resistance levels, especially around $0.12–0.13.
Shiba Inu is stagnating
Struggling to break out of the stagnation that has been going on since early August, Shiba Inu (SHIB) continues to show signs of weakness. Concerns about the asset’s short-term future are heightened by the fact that it is currently experiencing very little price movement and trading volume.
The asset was once very volatile. SHIB made several attempts to rise, but failed to do so. It is currently trading at around $0.00001317. It is obvious that the market does not expect a breakout as long as the price is stuck below important moving averages such as the 50, 100, and 200-day EMA.
Due to the long period of inactivity, SHIB volatility has decreased significantly, making it more difficult for traders and investors to anticipate any significant price changes in the absence of larger market movements.
The lack of broader market momentum is one of the main reasons for SHIB’s stagnation. Without significant growth in these assets, it is doubtful that SHIB will recover on its own. Cryptocurrencies such as Bitcoin and Ethereum have also gone through periods of low volatility. SHIB’s position is further complicated by whale activity and a lack of liquidity, increasing its susceptibility to potential downturns.
Without a broader market rally, SHIB’s future is still unclear. As the token struggles to gain the momentum it gained during its previous bull runs, investors are beginning to question its long-term durability. For now, SHIB is still volatile, and it could remain so unless the broader market experiences a surge in interest in riskier assets.
XRP is experiencing a huge decline
Recent trading has seen XRP almost suffer a major decline as it briefly fell below the critical $0.50 level. Many traders and investors were concerned about this development, especially due to the possibility of a breakout below the ascending trendline that has been important to the XRP market structure in recent weeks.
There were concerns that the breakout could lead to a larger sell-off as XRP fell to lows just below $0.50. The token bounced off the rising trendline that has served as support for much of the current recovery phase, but still held its ground.
A break below this trendline would have resulted in additional declines, potentially pushing XRP to the $0.45 range or lower. However, a quick recovery has prevented a potential disaster. The 50, 100, and 200 EMAs are some of the major moving averages that XRP is currently trading below. These EMAs act as resistance levels that the price must break in order to make a sustainable move higher. XRP is currently trading around $0.53.
However, it has not disappeared completely and there may still be room for recovery, as evidenced by the fact that it has managed to hold above the rising trend line. Although the market is still unpredictable, XRP seems to have avoided a significant downside for now.
