Biggest Movers: DOGE, SHIB Surge As Elon Musk Tweets Dog CEO Pictures
Dogecoin (DOGE) was up 6 percent on Wednesday as markets continued to react to Tesla CEO Elon Musk’s tweet. DOGE/USD managed to reach a high of $0.08707 earlier in today’s session which shows us 1 day after it traded at a low of $0.08141 and in today’s move we can see that meme has The coin also corroded for the second session and in the process it broke out of the resistance level of $0.0840 and when we look at the 14-day Relative Strength Index we see figures as rising and at the time of writing it is Tracking 50.81.
Price forces here have currently reached their highest levels in about 1 week and are bullish reaching a high of 52.00. As a result, some of the earlier gains have been eroded and Dogecoin is now trading at $0.08656.
Shiba Inu (SHIB) has moved up for the second day in a row and has crossed its own resistance level. On Tuesday its price after a low of $0.00001222 reached a high of $0.00001313 in the first level of the day and like dogecoin it also crossed the ceiling of mime coin race $0.00001285 in today’s rally and in the process it almost Goes up to 6 percent. When we look at the 14-day Relative Strength Index, we can see that there was also a breakout, which moved above the high of 55.00. Currently, the index is tracking at 56.95, which is at 61.00 mark from its nearest resistance point. This is an opportunity that early bulls would like to see profits near this point as the overall market sentiment remains partly bearish.
