DOGE and SHIB Price Analysis for February 1

A correction continues on the cryptrocurrency market, according to CoinMarketCap.

DOGE/USD

The rate of DOGE has declined by 0.57% over the past 24 hours.

Today’s move of DOGE has not affected the overall technical picture on the daily chart. The situation remains rather more bearish than bullish as the price is near the support level.

If buyers cannot seize the initiative shortly, one can expect a breakout to the $0.07 zone.

DOGE is trading at $0.07864 at press time.

SHIB/USD

SHIB has lost more than DOGE, going down by 1.67%.

On the daily time frame, SHIB is trading similarly to DOGE. The rate is far from the support, which means that the altcoin needs time to accumulate energy for a further move. In this case, sideways trading in the range of $0.00000870-$0.0000090 is the more likely scenario until the end of the week.

SHIB is trading at $0.00000891 at press time.

Source