On August 25, the trading price of Dogecoin had risen significantly and it successfully went over the 20-day EMA ($0.07).
Despite the effort, the bulls failed to push the trading value of the meme coin higher. They were not able to sustain the selling pressure coming from the bears.
As the bulls failed to sustain the pressure coming in from the bears, the trading price of DOGE experienced a dip.
The bulls were not able to save their position and the value of the meme coin started falling again.
This meant that the bears were aggressively defending the upper levels and they were not ready to let the trend continue for longer.
Strong Selling Witnessed for DOGE
It was the following day the trading price of Dogecoin fell and on August 26, the trading price of DOGE came between $0.07 and $0.06.
At the time of writing, the trading value of DOGE is hovering at $0.06363 and it has suffered an 8.8% dip in the past 7-days.
Even now, the trend for DOGE is moving in a negative direction. The bears have control over DOGE, which means they can trigger a selling spree at any time.
If they do it, then the trading price of SHIB may fall down to $0.06. If the bulls are not able to fight the bears off, then the trading price of DOGE may fall all the way down to $0.05.
It is expected that given the current market conditions, the bears may trigger a strong selling spree to press Dogecoin into a darker zone.
Shiba Inu (SHIB)
On August 25, the value of Shiba Inu witnessed a significant push and its value became highly volatile. This resulted in pushing the trading price of Shiba Inu to a high of $0.000014.
Once the price of Shiba Inu had reached a higher level, it was up to the bulls to keep the trend strong and active.
As the price of Shiba Inu rose up to a resistance level ($0.000014), the bears soon shot it down with their strong selling spree.
This meant that the bears had the trend under control and they were waiting for SHIB’s price to hit a higher level before they would pull its price lower.
At the time of writing, the price of Shiba Inu is below the $0.000013 level, which is the 20-day EMA. If the bears gain momentum against the bulls, their selling power may pull SHIB’s price much lower.
As the bears keep selling SHIB and the bulls lose their buying power, then the price of SHIB may fall down to $0.000010.