Market Volatility: Shiba Inu Falters, XRP’s Reversal Signal Disconfirmed, Dogecoin Finds Support
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Shiba Inu (SHIB) Lost Major Support, XRP Bullish Formation Invalidated, Dogecoin (DOGE) Reaches Key Support Level
The cryptocurrency market has seen a series of significant developments in recent hours. Shiba Inu (SHIB), which had been experiencing a slight recovery after a prolonged bearish period, lost its major support level at around $0.23 and is now trading lower by 15% against the US dollar.
Meanwhile, Ripple’s XRP has seen its bullish formation invalidated as it failed to hold above the critical $0.33 zone. This decline invalidates the potential reversal signal that was hinted at earlier in December.
On a more positive note, Dogecoin (DOGE) has reached a key support level around $0.35 and is currently trading higher by 10% against the US dollar. The bullish momentum seen in recent days might be enough to encourage investors to re-enter the market, but it is crucial to remember that DOGE still lacks solid fundamental backing.
The latest crypto news and updates are causing a stir among traders and investors alike.
Source: u.today
