DOGE, SHIB and BONK Price Analysis for January 6

Bears are more powerful than bulls at the beginning of the weekend, according to CoinMarketCap.

DOGE/USD

The rate of DOGE has fallen by 1.81% over the last 24 hours.

On the daily chart, the price of DOGE is trading sideways, accumulating energy for a further move. As neither side has seized the initiative yet, ongoing consolidation in the area of $0.08-$0.084 is the more likely scenario for next week.

DOGE is trading at $0.08092 at press time.

SHIB/USD

SHIB has followed the drop of DOGE, going down by 1%.

From the technical point of view, SHIB is trading similarly to DOGE. On the daily time frame, the rate of SHIB has made a false breakout of yesterday’s low.

If the candle closes far from it, buyers have a chance for a bounce back to the $0.000010 zone.

SHIB is trading at $0.00000964 at press time.

BONK/USD

BONK is not an exception, declining by 1.34%.

The price of BONK is in the middle of the channel, which means any sharp moves are unlikely to happen soon. The volume keeps falling, confirming the absence of buyers’ power. All in all, sideways trading around the $0.000011 zone is the more likely scenario for the next days.

BONK is trading at $0.00001096 at press time.

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