Dogecoin, SafeMoon and Shiba Inu – European Wrap 14 December
Dogecoin price needs to tread lightly as it is on a vital level, a breakdown of which could lead to a steep correction. This crash could take DOGE back to levels last seen at the start of the 2021 bull run. Therefore, investors need to pay close attention to the meme coin over the coming days.
SafeMoon price more than doubled after the December 4 crash. The altcoin’s bullish move is currently undergoing a pullback, though bulls are expected to trigger a second leg-up in SAFEMOON.
Shiba INU (SHIB) price is trading stuck between a 16% variation bandwidth as price looks for direction with neither buyers nor sellers putting forward any big moves. As equity markets shift further towards gains, expect this to spill over into cryptocurrencies and act as a catalyst for a bullish breakout, taking price above a top line that is capping price action for the moment. Following such a breakout, expect bulls to target a return to the 61.8% Fibonacci level at $0.00004490.