SHIB Bulls aims for a correction to $0.0000095 while DOGE struggles

The Chiba Inu (SHIB) coin rose 3.26% on Sunday. After gaining 1.22% on Saturday, SHIB stock ended the week down 6.14%, at $0.00000856. SHIB ended the day below $0.0000090 for the fifth consecutive session.

A bullish start to the day saw SHIB stock climb to an early high of $0.00000902. SHIB broke through the major resistance levels before retreating through the major resistance levels below $0.00000840.

However, after finding support in the afternoon, SHIB broke through the first major resistance level (R1) at $0.00000843 and briefly through the second major resistance level (R2) at $0.00000858 before ending the day at $0.00000856.

Persistent hopes that Twitter would merge DOGE with the Twitter payments platform dampened the downside for DOGE. However, the lack of progress toward integration and the collapse of FTX resulted in DOGE reversing its gains on Twitter.

A tweet from Elon Musk overnight added to the bearish sentiment. The CEO of Twitter posted a poll AsksAnd the

“Should I step down as president of Twitter? I will follow the results of this investigation.”

The poll followed another tweet by Musk Indicates That there will be a vote for any fundamental change in policy. DOGE and SHIB likely need Elon Musk in charge of Twitter to push crypto integration on the payment platform.

In contrast, SHIB news provided a bullish trend-defining session on Sunday. Speculation about SHIB tweet Provided price support, the SHIB army took this tweet as a countdown to Shibarium’s update. Shibarium is a Layer 2 upgrade that aims to offer faster transactions with lower fees.

Barring Elon Musk’s announcement of support for DOGE, Shibarium could give SHIB the upper hand in the short term. But outside market forces must be crypto-friendly to support further gains. Fear of economic recession will be a factor that may link SHIB and DOGE today.

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