DOGE targets $0.070 as Fed fears calm, SHIB looms

The Shiba Inu (SHIB) is up 2.82% on Tuesday. After reversing a loss of 2.36% from Monday, SHIB stock ended the day at $0.00001021. Notably, SHIB visited $0.00001040 levels for the first time since October 18.

After a mixed morning, SHIB’s stock fell to a mid-day low of $0.00000982. However, SHIB avoided the first major support level (S1) at $0.0000979, and SHIB stock surged to a high of $0.00001041 in the late afternoon. SHIB has breached the first major resistance level (R1) at $0.00001014 and the second major resistance level (R2) at $0.00001034.

However, the end of the bearish session saw SHIB stock fall through R2 to end the day at $0.00001021.

There were no network updates to impact, leaving the pair in the hands of the broader crypto market. The change in sentiment towards the Fed’s monetary policy resulted in a bullish session. Easy bets for a 75 basis point Fed rate hike in December were behind the breakout.

However, updates related to the Twitter takeover (TWTR) are still attracting interest.

this week, Reports From Twitter’s development of a crypto wallet gave DOGE a boost. Cryptocurrency adoption remains an important factor for investors. Investors also expect Elon Musk to push for crypto adoption if the acquisition continues.

This morning, an additional rally in risk appetite in the market supported a bullish start to the Wednesday session.

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