Shiba inu prices dropped to a 20-day low on Monday, putting the breed in the red to start the week. The cost of the meme coin has now fallen for four straight sessions, with the most recent decrease seeing the coin’s price fall under a crucial support level. A two-week low happened earlier today for Dogecoin, which was also down.
Shiba Inu (SHIB)
Shiba inu (SHIB) was down on Monday, as the meme coin moved to its lowest point in the past 20 days.
Following a high of $0.000009282, SHIB/USD was down by nearly 5% today, hitting a low of $0.000008794.
This low moment is SHIB’s lowest price since November 22, when it fell as low as $0.00000817.
The chart shows that the move comes as shiba inu broke out of a floor at the $0.00000885 mark.
The 14-day relative strength index (RSI) also fell, dropping below a floor the 43.70 level.
If this negative momentum keeps up, sellers of SHIB might try to retake the bottom last touched on November 22.
Dogecoin (DOGE) also remained in the red to start the week, declining for a fourth straight day.
DOGE/USD declined to an intraday low of $0.08729 on Monday, less than 24 hours after hitting a high of $0.09682.
As a result of this decline, which saw DOGE drop by nearly 10%, the token hit its lowest point since November 25.
Looking at the chart, bearish momentum has recently intensified following a drop below a floor of 48.00 on the RSI.
The 10-day moving average (red) also appears to be headed toward its 25-day moving average (blue), and a low cross is probable.
Should this crossover occur, DOGE will likely move even lower, with a floor of $0.080 as a possible destination.
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