Seasoned cryptocurrency analyst Rekt Capital has shared his insights on the future price movements of Dogecoin (DOGE) and Shiba Inu (SHIB). According to Rekt Capital, Dogecoin has successfully tested the Macro Downtrend and experienced a remarkable recovery of +38%. This recovery solidifies the emergence of a new Macro Uptrend for Dogecoin. Furthermore, if DOGE can sustain these high levels, it may form a Bull Flag pattern, which typically signifies a continuation of strong uptrends.
Shifting the focus to SHIB, Rekt Capital noted that Shiba Inu has recently hit the resistance level of $0.000033285 but faced rejection from there. This scenario echoes a similar situation in late 2021 when SHIB failed to break the $0.000033285 resistance on its initial attempt. In that instance, the rejection led to a retest of $0.000026041 as a new support level before confirming further upside. Currently, SHIB is once again testing the $0.000026041 level, leading Rekt Capital to question the possibility of history repeating itself.
It is important to note that the above analysis is for informational purposes only and should not be construed as investment advice.