Dogecoin rallied on Feb. 15, as Elon Musk tweeted an image of a Shiba Inu canine, with the caption: “The brand new CEO of Twitter is wonderful.” Following this tweet, each dogecoin and shiba inu surged, extending current good points. General, the worldwide cryptocurrency market cap is 2.42% greater as of writing.
Dogecoin (DOGE) rose by as a lot as 6% on Wednesday, as markets reacted to tweets from Tesla CEO Elon Musk.
DOGE/USD surged to an intraday excessive of $0.08707 earlier in in the present day’s session, which comes a day after buying and selling at a backside of $0.08141.
Right now’s transfer noticed the meme coin climb for a second straight session, breaking out of a resistance degree at $0.0840 within the course of.
DOGE/USD – Each day Chart
Upside momentum comes because the 14-day relative power index (RSI) surged, and as of writing it’s monitoring at 50.81
Value power has now risen to its highest level in almost every week, and is quick approaching a ceiling at 52.00.
Because of this, earlier good points have considerably eased, with dogecoin now buying and selling at $0.08656.
Shiba Inu (SHIB)
Shiba inu (SHIB) additionally rose for a second consecutive day, breaking out of a resistance degree of its personal.
Following a low of $0.00001222 on Tuesday, SHIB/USD raced to an intraday excessive of $0.00001313 earlier within the day.
Like with dogecoin, in the present day’s rally noticed the meme coin race previous a ceiling at $0.00001285, climbing by almost 6% within the course of.
SHIB/USD – Each day Chart
As will be seen from the chart, there was additionally a breakout on the RSI indicator, which moved past a ceiling at 55.00
At the moment, the index is monitoring at 56.95, with the closest level of resistance on the 61.00 mark.
There’s a probability that early bulls will choose to take revenue shut thus far, as total market sentiment stays partially bearish.
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