NEWSLETTER
Dogecoin continued to trade near a four-month high on Tuesday, following a 30% price surge earlier in the week. The rally came after Twitter changed its logo from the traditional blue bird to a cartoon Doge. Shiba inu was also higher as it moved to a multi-week high.
Dogecoin (DOGE)
Dogecoin (DOGE) was one of the biggest gainers today as markets continued to react to the Twitter logo change.
DOGE/USD reached a high of $0.1026 late on Monday, following a low of $0.07663 earlier in the day.
As a result of this move, the meme coin rose to its strongest point since Dec. 5, when it peaked at $0.1118.
Looking at the chart, Tuesday’s rise seems to coincide with the RSI breaking a top at 70.00.
At the time of writing, the index stands at 73.45, which is its highest reading since November.
Overall, dogecoin is up over 30% at the time of writing, and nearly 40% higher than the same time last week.
Shiba Inu (SHIB)
Another notable gainer on Tuesday was the shiba inu (SHIB), which hit a three-week high in the past few hours.
After a low of $0.00001065 at the beginning of the week, SHIB/USD rose to a high of $0.00001157 last night.
This resulted in prices rising as much as 6%, reaching their highest level since March 14 in the process.
Similar to DOGE, the move apparently took place after a break of a key resistance level of 55.00 on the RSI indicator.
Price strength is now at 55.76 and appears to be heading towards a higher top at 58.00.
If it hits its apparent target, SHIB is likely to break out of the March high of $0.00001184.
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Do you expect dogecoin and shiba inu to extend this rally beyond the week? Let us know your thoughts in the comments.
image credits: Shutterstock, Pixabay, Wiki Commons
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