Biggest Movers: SHIB, DOGE Snap Recent Losing Streaks

Shiba inu snapped a recent four-day losing streak on Thursday, as bulls rejected a breakout below a key level of support. The slight rebound in price came as the global crypto market cap was marginally higher, climbing 0.25% as of writing. Dogecoin was also in the green.

Shiba Inu (SHIB)

Shiba inu (SHIB) ended a four-day losing streak on Thursday, as crypto bulls returned following a slight stalemate earlier in the day.

Following a low of $0.000007164 on Thursday, SHIB/USD rose to an intraday high of $0.000007287 during today’s session.

This came as traders continued to move price away from a recent support point around the $0.00000710 level.

SHIB/USD – Daily Chart

From the chart, it also appears that momentum is somewhat bullish, with the 10-day (red) moving average nearing a cross with its 25-day (blue) counterpart.

In order for this to happen, the relative strength index (RSI) will first need to rise beyond a ceiling at the 44.00 mark.

At the time of writing, the index is tracking at 42.14, with SHIB trading at $0.000007256.

Dogecoin (DOGE)

Dogecoin (DOGE) also ended a winless run on Thursday, as the meme coin rallied following two days of declines.

DOGE/USD peaked at $0.06117 earlier in the day, which comes after a low of $0.06027 the day prior.

Similar to shiba inu, the moves comes as DOGE bounced away from a recent price floor at the $0.0600 level.

DOGE/USD – Daily Chart

Looking at the chart, it seems as though the next target will be around the $0.0625 zone, which was last hit exactly a week ago.

In order to reach this point, price strength will need to climb from a current reading at 42.52, and head closer to a ceiling of 44.00.

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