Shiba Inu (SHIB) steps up to end the week in losses. However, Dogecoin is hitting the base support level hard. FXStreet analyst Filip L. shares the levels that will be pivotal for both meme coins this week.
SHIB price faces a 20% drop
Shiba Inu (SHIB) gained momentum on the downside after trying to break the 55-day SMA line. The cops saw their attempts fail and fell into the trap. These price moves pushed the bulls lower and attempted to cut losses. But bears, as seen with some other cryptocurrencies, have been weak in this region.
Analyst Filip L. says that SHIB price could drop below $0.00000984 in July. SHIB could likely close at $0.00000800 near the S1 support level on Sunday evening. With the July pivots very close together, support and resistance give price action impetus for a breakout. On the upside, it still marks a drop to $0.000000507
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