DOGE, SHIB and BONK Price Analysis for January 3

A big correction has arrived on the cryptocurrency market, according to CoinMarketCap.

DOGE/USD

The rate of DOGE has dropped by 11% since yesterday.

On the daily chart, the price of DOGE has reached the support level of $0.08380. If the bar closes below it, the meme coin will return to the bearish zone. In that case, the correction might continue to the $0.07 area.

DOGE is trading at $0.08227 at press time.

SHIB/USD

SHIB has followed the dumping of other coins, going down by 15%.

The rate of SHIB keeps declining after a failed attempt to fix above the $0.00001136 mark. From the technical point of view, bears have seized the initiative; however, the price is far from the support and resistance levels.

All in all, sideways trading in the area of $0.000008-$0.00000950 is the more likely scenario for the next few days.

SHIB is trading at $0.00000924 at press time.

BONK/USD

BONK is the biggest loser today, falling by more than 20%.

The rate of BONK has broken the support level of $0.00001238, entering the bearish zone. Until the price is below that mark, there are chances to see a further downward move. If that happens, traders may see a test of the $0.0000090 area soon.

BONK is trading at $0.00001124 at press time.

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