Dogecoin Secures Support While Shiba Inu Extends Struggle

Elon Musk delivers yet another Dogecoin support with comments about a DOGE payment option for Twitter users. That comes amid a bearish outlook across the cryptocurrency market.

  • DOGE saw bullish reactions while SHIB struggled as the broad market record downtrends.
  • Tesla executive lifts DOGE as he suggests a Dogecoin payment functionality on Twitter.
  • Shiba Inu’s technical indicators flash bearishness, whereas DOGE stayed beyond the 50-day Exponential Moving Average.

The meme tokens saw mixed actions on Sunday. Elon Musk lifted DOGE, whereas SHIB reflected the broad crypto market downturns.

Dogecoin’s 2.77% surge added to Saturday’s 1.12%, ending Sunday at $0.1482. Shiba Inu lost 0.65%, partially reversing the 3.40% surge to hover around $0.00002446 as the day ended. SHB dropped 8. 8% over the past week, while Dogecoin surged around 1.16%.

Elon Musk Suggests a Twitter DOGE Payment Option

New about Elon Musk suggesting a DOGE payment option for Twitter fans triggered Dogecoin demand yesterday, Sunday. The original meme con hit the $0.1576 day high before reversing towards sub-$0.15. The DOGE payment option suggestion was among the many ideas Tesla CEO shared on Twitter.

Dogecoin Price Action

DOGE traded at $0.1492 at this publication, following a 0.67% surge. The meme token should overcome the day’s pivot near $0.1498 for a run towards the first massive resistance near $0.1560. Meanwhile, broad market support is essential for DOGE to climb to $0.1550.

Extended upticks would see DOGE testing the second crucial resistance at $0.1638, then $0.17. DOGE’s 3rd resistance stood at $0.1778.

Failure to conquer the pivot would see DOGE at the first support at $0.1420. Excluding another massive sell-off, the alt should avoid sub-$0.14. The 2nd dependable support stood at $0.1358.

Shiba Inu Price Action

SHB traded near $0.0000244, losing 0.08% on the day. A move through $0.0000247 day’s pivot to climb to the resistance at $0.0000251. Nevertheless, broad market backing is essential for a move to $0.000025.

Massive bullish actions would see Shiba Inu exploring the second resistance at $0.0000258. Another hurdle stands at $0.0000268. However, weakness at the pivot would see the initial support near $0.0000235 in play. Nevertheless, the second support barrier at $0.0000237 should prevent further downside.

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