DOGE, SHIB Slide Following Better-Than-Expected Payrolls Report  – Market Updates Bitcoin News

Markets reacted to Friday’s U.S. nonfarm payrolls reports, which led Meme coins trading lower. Data showed that the United States added 263,000 jobs in September to its economy, as opposed to 250,000 predicted. For the third straight session, both dogecoins and shiba Inu were down.

Dogecoin, (DOGE).

Dogecoin fell on Friday (DOGE) for the third straight session, due to market reactions to the NFP report.

DOGE/USD slipped to an intraday low of $0.06201 in today’s session less than 24 hours after hitting a peak of $0.06511.

Today’s decline saw the token continue to fall below its resistance point of $0.0640, moving closer to a floor of $0.0590.

Biggest Movers: DOGE, SHIB Slide Following Better-Than-Expected Payrolls Report
DOGE/USD – Daily Chart

Looking at the chart, today’s drop in price comes as the 14-day relative strength index (RSI) fell below a floor of its own.

The index currently tracks at 50.63 as of this writing. This is slightly below the 52.00 support level.

Bulls are hopeful that the 10-day moving average (red) will continue to rise above its counterpart of 25 days (blue).

Shiba Inu (SHIB)

Shiba Inu was (SHIB) also in day three of the recent falls, and moved closer towards a critical support point.

After a Thursday high of $0.00001138, the SHIB/USD fell to $0.000011 on Thursday.

This dropped saw the meme currency move toward its $0.00001080 floor, which was in effect since September 18.

Biggest Movers: DOGE, SHIB Slide Following Better-Than-Expected Payrolls Report
SHIB/USD – Daily Chart

Even with this sell-off the 10-day moving mean on shiba-inu was still set to an upwards crossover with the MA of 25 days.

This could lead to SHIB moving back toward a $0.00001170 ceiling.

The RSI currently tracks at 44.91 as of this writing. This is slightly above the support level of 44.00.

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Eliman Dambell

Eliman has a unique perspective on market analysis. He was previously a retail trading teacher and brokerage director. He is currently a commentator on various asset classes including Crypto, Stocks, and FX.

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