DOGE and SHIB Price Analysis for October 16

A new week has started with the bulls’ dominance on the cryptocurrency market.

DOGE/USD

The rate of DOGE has increased by 1.61% over the last 24 hours.

Today’s rise has not affected the technical position of DOGE on the daily chart. The rate remains far from the main levels, which means that none of the sides has accumulated enough energy for a sharp move.

In this case, sideways trading in the area of $0.059-$0.061 is the more likely scenario for the following week.

DOGE is trading at $0.06012 at press time.

SHIB/USD

SHIB has followed the growth of DOGE, going up by 1.72%.

From the technical point of view, SHIB is trading similarly to DOGE, as none of the sides is dominating at the moment. If the daily candle closes above the $0.000007 zone today, traders are likely to see a consolidation in the area of $0.00000720-$0.00000740 soon.

SHIB is trading at $0.00000709 at press time.

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