Shiba inu extended recent gains into the weekend as the meme coin rose to its highest point in four months. Today’s rise sent prices up as much as 13%, and it comes despite cryptocurrency markets mostly consolidating. Dogecoin also moved higher, breaking a recent top in the process.
Shiba-inu (SHIB)
Shiba inu (SHIB) was one of the market’s biggest movers for the second session in a row, with prices rising as much as 13% higher today.
SHIB/USD rose to a high of $0.00001457 on Saturday, which was its strongest point since Oct. 29.
The move comes after a low of $0.00001232 on Friday, and as bulls led a break of a price high of $0.00001290.
Looking at the chart, the rise also led to a breakout of the RSI, which hit a 12-day high.
The index moved past a top at 74.00 earlier in the day and currently sits at a reading of 79.15.
This is close to a top at 80.00 and has resulted in previous bulls starting to exit previous positions.
Dogecoin (DOGE)
Dogecoin (DOGE) also rallied during the session on Saturday, with prices breaking through a key resistance level.
Following a low of $0.09107 on Friday, DOGE/USD hit an intraday high of $0.09489 to start the weekend.
As a result of this move, the meme coin once again moved above a ceiling of $0.0935 earlier in the day.
However, as the session has progressed, momentum has since subsided, and this comes as the RSI hit a roadblock.
The index found resistance at the 63.00 mark, causing bulls to pull back on fears of a price reversal.
At time of writing, price strength is now at 61.92, with DOGE trading at $0.09383.
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Could meme coins continue to rise in today’s session? Let us know your thoughts in the comments.
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