Meme cash remained larger on Tuesday, regardless of cryptocurrency markets largely buying and selling in the crimson. Dogecoin is now over 130% larger in the final week, because the token climbed to its highest level since April. Shiba inu was additionally larger, climbing again above a key worth ceiling.
Dogecoin (DOGE)
Dogecoin (DOGE) prolonged latest beneficial properties on Tuesday, because the token surged to a recent multi-month excessive.
Following a low of $0.117 to begin the week, DOGE/USD raced to an intraday peak of $0.1572 throughout at the moment’s session.
The rally sees the meme coin transfer to its highest level since April, and as of writing it’s buying and selling over 130% larger from the identical level final week.
DOGE/USD – Every day Chart
This latest surge in dogecoin comes as Tesla CEO and long-term meme coin supporter Elon Musk not too long ago accomplished his takeover of Twitter.
On Tuesday, Musk additionally tweeted an image of a shiba inu canine sporting a Twitter banner, which some consider might be an endorsement.
As of writing, the 14-day relative energy index (RSI) is now monitoring at 90.24, which is the very best level for the index in over a yr.
Shiba Inu (SHIB)
Following the tweet from Elon Musk, shiba inu (SHIB) was additionally larger, as costs climbed above a key resistance stage.
SHIB/USD surged to a excessive of $0.00001345 earlier in at the moment’s session, gaining for a second straight day in the method.
As referenced earlier, the transfer got here because the meme coin rose previous its latest ceiling of $0.00001300.
SHIB/USD – Every day Chart
Wanting on the chart, the RSI for SHIB is at the moment monitoring at 65.30, which is just below the subsequent seen ceiling of 70.00.
Ought to worth energy proceed to rise, we may see bulls try and recapture final Saturday’s excessive of $0.00001518.
Each the 10-day (crimson), and 25-day (blue) transferring averages look like trending larger, which is one other constructive indication for bulls.
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