Dogecoin was one of Thursday’s big movers, as the cryptocurrency climbed by as much as 10% in today’s session. The surge in price comes as traders look to find opportunities in riskier crypto assets, with the meme coin realm ticking this box. Shiba inu also gained, reaching its highest point in over two months.
Dogecoin (DOGE)
Dogecoin (DOGE) rose by over 10% earlier in today’s session, as the global cryptocurrency market cap returned to the green.
DOGE/USD peaked at $0.07489 on Thursday, which comes following a low of $0.06596 the day before.
Today’s move sent dogecoin to its strongest point since August 14, when the price climbed to a high of $0.0771.
Overall, this is the seventh day in the last eight sessions that the meme coin has traded in the green.
This latest surge has pushed the 14-day relative strength index (RSI) to a current reading of 80.21, above a ceiling at 76.00.
As a result of price being overbought, current buyers may now begin to secure their profits.
Shiba Inu (SHIB)
Shiba inu (SHIB) was another notable gainer on Thursday, as price rose for a second consecutive day.
Following a low of $0.000007429 on Wednesday, SHIB/USD rallied to an intraday high of $0.000008208 earlier today.
Similar to dogecoin, today’s gains have sent SHIB to its highest level since August, after the price rose by nearly 10% today.
Looking at the chart, earlier gains have somewhat faded, as a result of the RSI failing to break out of a ceiling at 70.00.
As of writing, price strength now sits at 69.15, with a floor at 61.00 a likely target should momentum begin to shift.
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