DOGE Bulls Targets $0.0850 As SHIB Heads Towards $0.00001

However, after finding support in the afternoon, DOGE broke the resistance 1 barrier to end the day at $0.0801.

The Shiba Inu coin (SHIB) rose 3.84% on Thursday. Reversing a loss of 1.51% from Wednesday, SHIB stock ended the day at $0.00000947. SHIB closed the day at $0.0000090 for the third time since December 13th.

A bullish start to the day saw SHIB stock rise to an early morning high of $0.00000969. SHIB breached the first major resistance level (R1) at $0.00000938. Against the second major resistance level (R2) at $0.00000963, SHIB stock fell to an early afternoon low of $0.00000882.

However, SHIB avoided the first major support level (S1) at $0.00000876, and SHIB broke through R1 to end the day at $0.00000947.

US economic indicators and a bullish cryptocurrency session provided support

There were no network updates for investors to consider on Thursday. The lack of network news left DOGE and SHIB in the hands of the broader crypto market.

On Thursday, the all-important US CPI report and weekly jobless claims numbers fueled demand for riskier assets. Weak inflation numbers and tight labor market conditions pointed to a soft landing, a boon for riskier assets.

The NASDAQ Composite and the S&P 500 rose 0.64% and 0.34% respectively, supporting the bullish cryptocurrency market session.

In addition to the US economic agenda, calming fears of an FTX infection also provided support. News that attorneys had identified $5 billion in cash and liquid assets and $4.6 billion in non-strategic assets allayed fears of an FTX contagion.

Today, investors need to keep an eye on Shibarium network updates and Twitter conversations. Shibarium’s upgrade date will be bullish for SHIB while uncertainty about DOGE’s future remains on Twitter.

However, US economic indicators and corporate earnings will influence the afternoon session.

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