The launch of the ETF on Dogecoin attracts the attention of traders and investors, leading to price fluctuations and trading volumes for Dogecoin and Shiba Inu.
Dogecoin's Resistance Test Ahead of ETF Launch
Dogecoin has seen a rise of over 15% in the past week, climbing to $0.2494. Intraday trading reached $0.253, and traders are focusing on the resistance level at $0.2680. However, trading volume has decreased by more than 11%, dropping to $3.24 billion, which serves as a critical indicator for price movements.
The ETF launch is expected to make Dogecoin more accessible to both individual and institutional investors. This could potentially stimulate buying and selling activities. Dogecoin previously surged to $0.4672 in December 2024 and reached an all-time high of $0.7376 in May 2021. The market is keenly observing the impact of the new ETF on its price.
Short-Term Price Outlook for Shiba Inu
Shiba Inu has risen by 1.53% over the last 24 hours, reaching $0.00001310. The memecoin has tested resistance at the $0.00001320 level on the hourly chart and could move towards $0.00001350 if a breakout occurs.
In the medium term, the SHIB coin is trading away from significant support and resistance points. Hence, it is more likely to fluctuate within the range of $0.00001250 to $0.00001350. Whether the price holds this range will become more apparent in the coming days.
Overview of Current Market Conditions
The launch of the ETF on Dogecoin and the price volatility of Shiba Inu create interesting conditions in the market. Investors and analysts continue to track market dynamics, while cryptocurrency assets remain the center of traders' attention.
The launch of the ETF on Dogecoin may significantly impact the market, while price changes in Shiba Inu also attract investor interest. Attention will be focused on how these events influence short-term and long-term forecasts.
