BTC, DOGE And SHIB Price Analysis For Jan 23

BTC, DOGE and SHIB Price Analysis for January 23

On the last day of the week, the rates of some currencies recovered to a certain extent.

Top Coins According to CoinMarketCap
Top Coins According to CoinMarketCap


Despite a slight rebound today, the rate of Bitcoin (BTC) is down 17% from last week.

BTC/USD chart by TradingView
BTC/USD chart by TradingView

On the daily chart, Bitcoin (BTC) has not continued to decline today in light of the increased trading volume. Currently, neither the bulls nor the bears dominate as the price is in the middle of the channel.

If buyers can keep the rate above $35,000, a correction could lead BTC to a mirror level at $39,573 by the end of the month.

Bitcoin is trading at $35,869 at press time.


Unlike Bitcoin (BTC), the price of Dogecoin (BTC) has increased by 4% since yesterday.

DOGE/USD Chart by Trading View
DOGE/USD Chart by Trading View

Despite the drop, the price rebounded to the support at $0.1310. Until it sustains above it, the bulls continue to control the situation in the market. But in the event that seller pressure continues and a breakout occurs, the decline can extend to the psychological zone around $0.10.

All in all, one needs to pay attention to support levels and buyer reaction.

DOGE is trading at $0.1392 at press time.


SHIB is the most appreciated coin among the top 20 coins today. The meme is up 10.33% in the past 24 hours.

SHIB/USD chart by TradingView
SHIB/USD chart by TradingView

From a technical point of view, SHIB is trading similar to DOGE as it has also bounced back from the support at $0.00002010. However, it is too early to consider the possibility of a market reversal as the coin has not yet accumulated enough strength. In this case, price action is more likely than a sideways trade in the range of $0.000020-$0.000021.

SHIB is trading at $0.00002221 at press time.


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