Doge is bullish as all the money is flowing out of SHIB

The technical analysis shows that Doge is bullish because money is flowing out of the rival meme token. RSI is low and the last time that happened Doge started a price rally.

Dogecoin is holding 9th position in the crypto market in the ranking based on the market cap of the token. Dogecoin and SHIB are running for the battle of supremacy in the meme world. The co-founder of Doge calls recent moves of SHIB a hype in crypto and gets appreciated by Elon Musk. Original meme currency is down by 0.15% in 24 hours with a live market cap of $34,816,579,099.  But technical analysis confirms that Doge is bullish in a 4H price chart.

Technical analysis: Doge is bullish

The technical analysis of Doge shows that Doge is bullish and becoming ready for another price boom. The price chart of Doge is showing that it is moving with a lot of false breakouts but finally it has reached channel support and hopefully will reach out to the resistance line of the channel. The RSI and moving averages are also in favor of the price boom.

Doge is bullish
DOGE price chart by tradingview

There is strong buy sentiment for Doge in the crypto market and hopefully, Elon Musk’s favorite keeps going up. After the SHIB’s bearish trend confirmation, Doge is bullish. DYOR.

About mnmansha

MN Mansha is a cryptocurrency expert, trader, and content writer with extensive experience in covering everything related to digital assets — from price analysis to Blockchain disruption. Mansha authored 100+ stories for NewsBSC.com and other fintech media outlets and he's actively writing more every day. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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