Meme coins traded lower on Friday as markets reacted to the latest US non-farm payrolls report. The data showed that the United States economy added 263,000 jobs in September, compared to an expected 250,000. Both dogecoin and shiba inu fell for the third consecutive time.
dogecoin (DOGE)
Dogecoin (DOGE) fell for a third straight session on Friday as markets reacted to the latest Non-Farm Payrolls (NFP) report.
DOGE/USD fell to an intraday low of $0.06201 in today's session less than 24 hours after reaching a high of $0.06511.
Today's decline saw the token continue to fall below the $0.0640 resistance point and close to the $0.0590 low.
Looking at the chart, today's price decline comes as the 14-day Relative Strength Index (RSI) has dropped below its own low.
At the time of writing, the index is trading at 50.63, slightly below its recent support point of 52.00.
The 10-day (red) moving average (MA) continues to hover above its 25-day (blue) counterpart, which remains a positive sign for bulls hoping for a rebound.
Shiba Inu (SHIB)
Shiba Inu (SHIB) was also in its third day of recent declines, with the token moving closer to a key support point.
After hitting a high of $0.00001138 on Thursday, SHIB/USD fell to a low of $0.000011 earlier in the day.
This decline caused the meme coin to move towards the low of $0.00001080, which has been mostly in place since September 18th.
Biggest movers: DOGE, SHIB Slide after better-than-expected payroll report
Despite this recent sell-off, the 10-day moving average on the shiba inu has been set up for an ascending cross with the 25-day MA.
If this were to happen, we could potentially see SHIB move back towards the $0.00001170 ceiling.
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