Shiba inu Coin (SHIB) fell 3.83% on Sunday. Reversing its 0.44% gain from Saturday, SHIB stock ended the week down 2.55%, at $0.00000878.
Tracking the broader market, SHIB stock rose to an early morning high of $0.00000922. When SHIB failed to reach the first major resistance level (R1) at $0.00000926, SHIB fell to a late low at $0.00000866. SHIB fell through the first major support level (S1) at $0.00000897 and the second major support level (S2) at $0.00000881 to end the day at $0.00000880.
The network’s news updates and Twitter provided little price support, with contagion fears hitting investor sentiment.
FTX news updates sparked contagion fears after reports that FTX owed its 50 largest creditors nearly $3.1 billion. Worryingly, FTX owes $1.45 billion to the top ten creditors. The numbers increased the chances of more FTX-driven bankruptcies.
DOGE has seen significant losses, with the uncertainty surrounding Twitter and its cryptocurrency integration plans weighing heavily.
However, SHIB updates provided a price cushion. Over the weekend, Shiba Inu News discussed a partnership between SHIB and Amazon Inc. (AMZN). Shiba Inu news He saidAnd the
“Breaking: A massive partnership between SHIB and Amazon is in the works. It could happen as early as December 1 if negotiations go well.”
Chiba Inu News added,
“We’ll have more on the story soon. We were the first to break when Robinhood (HOOD) listed Shipp.”
In a second tweet, Shiba Inu News He saidAnd the
More updates: The Amazon Insider is on the leadership team. They’ve been meeting internally since the beginning of Q4. Crypto is often a big topic of discussion. They’ve been impressed with SHIB’s growth and total number of holders worldwide. .”
Today, with the exception of the news of Twitter resuming crypto integration plans, FTX infections will still be in focus. Weekend news about FTX’s exposure to creditors is likely to leave investors anxious until creditors’ identities are available.
Dogecoin (DOGE) price action
At the time of writing, DOGE stock is down 2.21%, at $0.0752. A bearish start to the day saw DOGE drop from an early high of $0.0771 to a low of $0.0735.
The first major support level (S1) at $0.0736 was capped to the downside.