DOGE Bulls Eye a Return to $0.100 on Robinhood News

Key Insights:

• Dogecoin (DOGE) and shiba inu coin (SHIB) enjoyed bullish Sunday sessions, with DOGE returning to $0.0935 for the first time since December 13.
• Network updates and plans to include DOGE on Robinhood supported a bullish end to the week.
• The technical indicators are bullish, signaling further price gains.

Dogecoin (DOGE) rallied by 4.62% on Sunday. Reversing a 1.97% loss from Saturday, DOGE ended the week up 2.79% to $0.0884.

A mixed start to the day saw DOGE fall to an early low of $0.0844. Steering clear of the First Major Support Level (S1) at $0.0829, DOGE rallied to a late high of $0.0935. DOGE broke through the First Major Resistance Level (R1) at $0.0876 and briefly through the Second Major Resistance Level (R2) at $0.0907 before sliding back to end the day at $0.0884.

Shiba inu coin (SHIB) rose by 1.26% on Sunday. Partially reversing a 3.03% loss from Saturday, SHIB ended the week up 12.77% to $0.00001201.

After a range-bound morning, SHIB rallied to a late afternoon high of $0.00001250. SHIB broke through the First Major Resistance Level (R1) at $0.00001232 before sliding to a late low of $0.00001158. Finding support at the First Major Support Level (S1) at $0.00001157, SHIB bounced back to end the day at $0.00001201.

Robinhood Listing News Delivered a DOGE Breakout

There were no updates from the Dogecoin Foundation to support a breakout session. However, the news of Robinhood (HOOD) adding DOGE to its newly launched cryptocurrency wallet delivered a bullish Sunday session.

Robinhood users took to Twitter, saying,

“Their DOGE wallet is public, and they hold a good chunk of DOGE. Their new wallet launch in beta started with ETH and MATIC integration. DOGE is in the works.”

Robinhood responded to the tweet on Friday, saying,

“Don’t worry. We’re hard at work on supporting DOGE.”

However, there were no updates from the Shibarium Network to support a breakout Sunday session. Investors await the date of the Shibarium upgrade that will support faster SHIB transactions at lower fees and result in a higher SHIB burn rates.

Today, network updates will remain the key drivers. However, broader crypto market sentiment will likely influence.

Dogecoin (DOGE) Price Action

At the time of writing, DOGE was up 2.15% to $0.0903. A mixed start to the day saw DOGE fall to an early low of $0.0878 before rising to a high of $0.0908.

Technical Indicators

DOGE needs to avoid a fall through the $0.0888 pivot to target the First Major Resistance Level (R1) at $0.0931 and the Sunday high of $0.0935. A return to $0.0930 would signal another bullish session. However, the crypto news wires and network updates need to be DOGE-friendly to support a breakout session.

In the event of an extended rally, the Second Major Resistance Level (R2) at $0.0979 and $0.100 would likely come into play. The Third Major Resistance Level (R3) sits at $0.1070.

A fall through the pivot ($0.0888) would bring the First Major Support Level (S1) at $0.0840 into play. However, barring an extended sell-off, DOGE should avoid sub-$0.0840 and the Second Major Support Level (S2) at $0.0797. The Third Major Support Level (S3) sits at $0.0706.

The EMAs sent a bullish signal, with DOGE sitting above the 50-day EMA, currently at $0.0841. This morning, the 50-day EMA pulled away from the 100-day EMA, with the 100-day EMA widening from the 200-day EMA. The price signals were bullish.

A hold above the 50-day EMA ($0.0841) would support a breakout from R1 ($0.0931) to bring R2 ($0.0979) and $0.100 into view. However, a fall through the 50-day EMA ($0.0841) and S1 ($0.0840) would give the bears a run at the 100-day ($0.0818) and 200-day ($0.0808) EMAs. A fall through the 50-day EMA would signal a shift in sentiment.

Shiba Inu Coin (SHIB) Price Action

At the time of writing, SHIB was up 1.00% to $0.00001213. A bullish start to the day saw SHIB rise from an early low of $0.00001198 to a high of $0.00001221.

Technical Indicators

SHIB needs to avoid a fall through the $0.00001203 pivot to target the First Major Resistance Level (R1) at $0.00001248 and the Sunday high of $0.00001250. A return to $0.00001250 would signal an extended bullish session. However, SHIB would need more details on the Shibarium upgrade and broader market support to deliver another breakout session.

In the event of an extended rally, SHIB could test the Second Major Resistance Level (R2) at $0.00001295 and resistance at $0.00001300. The Third Major Resistance Level (R3) sits at $0.00001387.

A fall through the pivot would bring the First Major Support Level (S1) at $0.00001156 into play. However, barring another extended sell-off, SHIB should avoid sub-$0.00001150 and the Second Major Support Level (S2) at $0.00001111.

The Third Major Support Level (S3) sits at $0.00001019.

The EMAs send a bullish signal, with SHIB sitting above the 50-day EMA, currently at $0.00001131. The 50-day EMA pulled away from the 100-day EMA, with the 100-day EMA widening from the 200-day EMA. The signals were bullish.

A hold above S1 ($0.00001156) and the 50-day EMA ($0.00001131) would support a breakout from R1 ($0.00001248) to target R2 ($0.00001295) and $0.000013. However, a fall through S1 ($0.00001156) and the 50-day EMA ($0.00001131) would give the bears a run at the S2 ($0.00001111). A fall through the 50-day would signal a shift in sentiment.