- SHIB’s price has broken below crucial support levels.
- The price of the PEPE crypto has advanced by 12% in the last 24 hours.
While the market cap of the PEPE crypto has advanced by 630% in the last year, the SHIB crypto has witnessed an advance of 115%.
PEPE crypto has witnessed a massive surge of 21% in its trading volume over the last 24 hours, while SHIB has seen a rise of just 10%. It shows that a larger number of addresses are engaging in PEPE crypto.
The following data also shows PEPE’s popularity is higher than SHIB crypto in the current market scenario.
The price of the PEPE crypto further goes down by just 31% from its all-time high price, while the Shiba Inu crypto price will have to advance by 80% from its CMP to breach above new all-time highs.
PEPE crypto further has higher liquidity than Shiba Inu. It also shows that entering and exiting positions in Shiba Inu is easier.
The volatility of both cryptocurrencies is similar, showing that they can have uncertain spikes in their price at certain times. Both cryptos’ fear and greed index is at 30, showing greed among investors.
What Do Derivatives Say About Shiba Inu and PEPE Crypto?
The derivatives trading volume of the PEPE crypto has been static over the last few days, while the volumes of Shiba Inu crypto have witnessed a substantial decline.
Despite the decline in the trading volume, the recorded short liquidation for the crypto is higher for both the cryptos.
What Do Technical Charts Indicate for SHIB and PEPE Crypto Prices?
The SHIB and PEPE crypto price structures are far more distinct from each other, where the SHIB follows a solid bearish trend while the price has built up a strong bullish character.
PEPE Crypto Technical Analysis Overview
The PEPE crypto trading price has recently exhibited a descending triangle pattern and a consistent decline from previous swing highs. This pattern typically indicates a bearish sentiment, with lower highs forming a converging trendline against a horizontal support level.
However, the PEPE crypto price has now broken above the descending triangle pattern on the daily chart. While this breakout is a promising sign, confirming a bullish trend requires closing the daily candle, which is still pending at press time. A successful close above the triangle’s upper boundary would signify a potential shift in market sentiment.
SHIB Crypto Technical Chart Overview
The trading price of the SHIB crypto has broken down further below a descending triangle pattern, which shows that the crypto price has already been in a strong downtrend.
The leading breakdown in the crypto price further shows the continuation of bears’ dominance in the price. It further indicates that the crypto price might continue declining to lower levels.
Summary
PEPE is showing a bullish trend with a 12% price increase in the last 24 hours and breaking out of a descending triangle pattern, while SHIB is in a strong bearish trend, breaking below crucial support levels and continuing to decline. Both cryptos exhibit similar volatility and investor sentiment.
The support levels where the price of the SHIN crypto might react are $0.00000940 and $0.0000160, followed by the resistance levels of $0.0000290 and $0.0000380.
Moreover, the price of PEPE crypto might take support at the levels of $0.000003870 and $0.00000970, and also the resistance levels for the same are $0.0000170 and $0.000020.
Disclaimer
This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.