DOGE and SHIB Price Analysis for May 9
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The correction continues on the cryptocurrency market as the rates of most of the coins keep falling.
Top coins by CoinMarketCap
DOGE/USD
The rate of DOGE has fallen by 2.57% over the last 24 hours.
Image by TradingView
The rate of DOGE has continued to fall after a failed attempt to fix above the $0.08 zone. If the situation does not change, there is a high chance of seeing a further drop to the $0.07, followed by a test of the support at $0.06324. Such a scenario is relevant until the end of the week.
DOGE is trading at $0.07278 at press time.
SHIB/USD
SHIB has followed the drop of DOGE, going down by 1.88%.
Image by TradingView
On the daily chart, the price of SHIB has fixed below the important level at $0.00000935. Until the rate is below that mark, there is a high possibility of seeing a further drop to the next zone of $0.000008.
SHIB is trading at $0.0000088 at press time.
