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SHIB and DOGE are falling on news of unusual Binance activity

Daniel Rogers

Dec 12, 2022 15:23

截屏2022-12-12 下午3.19.44.png 

 

On Sunday, Dogecoin (DOGE) and shiba inu coin (SHIB) followed the broader market in the red, extending three-session losing streaks. The news from Binance, investor anxieties ahead of Tuesday's US CPI Report, and Wednesday's Fed rate decision presented a gloomy background for the weekend. The technical indications are bearish, indicating that prices will continue to decline.

 

On Sunday, dogecoin (DOGE) fell 3.63 percent. Following a 0.52% drop on Saturday, DOGE closed the week at $0.0928, down 10.94%. Notably, DOGE failed to return to $0.10 for the fourth session in a row.

 

DOGE reached a morning high of $0.0972 after a bullish start to the trading day. DOGE reached a late low of $0.0916 after encountering the First Major Resistance Level (R1) at $0.0972. DOGE dropped below the day's Major Support Levels to close at $0.0928.

 

You should only trade with capital that you can afford to lose while trading derivatives. The trading of derivatives may not be suitable for all investors; thus, you should ensure that you fully comprehend the risks involved and, if necessary, seek independent counsel. Before entering into a transaction with us, a Product Disclosure Statement (PDS) can be received through this website or upon request from our offices and should be reviewed. Raw Spread accounts offer spreads as low as 0 pips and a commission rate of $3.50 per 100,000 USD traded. Spreads on standard accounts begin at 1 pip with no additional commission fees. CFD index spreads begin at 0.4 points. This information is not intended for inhabitants of any country or jurisdiction where distribution or use would violate local law or regulation.

 

On Sunday, Shiba inu coin (SHIB) decreased by 0.65%. Following a loss of 0.54% on Saturday, SHIB closed the week at $0.00000912, down 2.56 percent.

 

After a mixed morning, SHIB reached a high of $0.00000929 in the early afternoon. At $0.00000927, SHIB broke through the First Major Resistance Level (R1) before falling to a late low of $0.00000927. At $0.0000092, SHIB went below the First Major Support Level (S1).

 

SHIB completed the trading day at $0.00000907, after establishing support at the Second Major Support Level (S2) S1 prevented SHIB from recovering fully.


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