Price Predictions

SHIB Price and DOGE Price are Recovering Fast, Is This the Good Time To Invest?

SHIB vs DOGE

Key Takeaways:

  • The Shiba INU price closed the previous day’s trade at INR 0.000927 with a market capitalization of INR 514.25 billion and a circulating supply of 549,063.2 billion SHIB
  • The Dogecoin price closed the previous day’s trade at INR 6.82 with a market capitalization of INR 905.49 billion
  • SHIB & DOGE prices both are tanking down by a significant margin but both appear to have laid the same strategy for a rebound

How High Will Dogecoin (DOGE) Price Go in May 2022 

The Dogecoin price broke down from the huge descending triangle that is maintained from the time it smashed its highs in May 2021. However, with the recent flip, the asset is utilizing all its resources to regain bullish momentum and eventually break through the consolidation. But the volume remains the major concern that may lower the pace of the rally.

However, the price has already made a strong flip from the bottom and is trying very hard to strengthen the upswing. However, the asset could range high slowly yet steadily but higher targets may not be expected. The DOGE price with an extended rally may hover around INR 10 but with a normal trade may trade around INR 8.2 to INR 8.5 by the end of May’s trade.

How High will Shiba INU(SHIB) Price Go in May 2022 

The Shiba INU price ever since the beginning of the present year’s trade was pretty bearish. No doubt the asset did attempt to halt the bearish trend with a significant consolidation but failed. Moreover, the recent market crash drained a huge portion of the value compelling the price to consolidate below INR 0.001 regions. 

Currently, the price appears to have accumulated gains as it is consolidating very hard between INR 0.00099 and INR 0.00091 over the past couple of days. Technicals suggest a major upswing may be incoming as the price is approaching the apex of consolidation. And a couple of weeks to the end of May’s trade, SHIB price could hover around INR 0.0018 levels.

Additional Read: SHIB vs DOGE

Dogecoin (DOGE) Technical Analysis 

Source: Tradingview

  • The Dogecoin price after hitting the year-old support successfully flipped and maintained a significant upswing 
  • The price could continue trending towards the north within an ascending parallel channel, after igniting a flip from the lower support
  • DOGE price does not have enough buying pressure and hence continues to consolidate along with the lower support 
  • However, the price may eventually begin surging towards the resistance of the channel at around INR 8.5
  • Further maintaining an uptrend, the price could hover close to INR 10 but eventually may not surpass until the end of May’s trade

Check out the Latest Prices, Charts, and Data of  DOGE/USDT.

Shiba INU (SHIB) Technical Analysis 

Source: Tradingview 

  • SHIB price after a brief consolidation fell into a deep bearish well and began swinging within an asymmetric triangle
  • It appears that the price may have reached the apex of the consolidation and hence a drastic move may make its way out
  • In case of a breakout, the price is required to break above INR 0.00106 levels to secure an uptrend, else the possibility of a significant squeeze to INR 0.0008 may be possible
  • However, the technicals are in favor of the asset as RSI after an extended consolidation along the lower region appears to have been preparing for a larger upswing
  • On the other hand, the selling pressure is slowly easing out and after consolidation for a couple of days, a major breakout may be predetermined

Check out the Latest Prices, Charts, and Data of  SHIB/USDT.

Shiba Inu (SHIBA) vs Dogecoin (DOGE): Analysis

Comparison Basis Dogecoin (DOGE) Shiba Inu (SHIB)
Launch Date December 2013 August 2020
Founders Billy Markus and Jackson Palmer Anonymous Group – Ryoshi
Blockchain Protocol  Dogecoin Ethereum blockchain (ERC-20Token)
Token Type Native Utility
Use Case Primarily a crypto coin that can be used for tipping creators on social platforms, and for the acquisition of goods and services. Primarily as a token for decentralized governance, which can also be used for the acquisition of goods and services.
Market Cap* $19,283,882,421 $16,912,346,272
Circulating Supply** 132.67B DOGE 549,063.28B SHIB
Consensus Method Proof-of-work (PoW) Proof-of-work (PoW)
Official Twitter Account Dogecoin Shib Inu coin

 

MarketCap* and Circulation Supply** as of February 2022

Source: CoinMarketCap

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