The reversal saw DOGE slide to an early afternoon low of $0.0868. However, steering clear of the First Major Support Level (S1) at $0.0847, DOGE bounced back to end the day at $0.0880.
Shiba inu coin (SHIB) rose by 0.77% on Saturday. Following a 0.95% gain on Friday, SHIB ended the day at $0.00001182.
Tracking the broader market, SHIB rallied to a mid-morning high of $0.00001231 before hitting reverse. SHIB broke through the First Major Resistance Level (R1) at $0.00001197 and the Second Major Resistance Level (R2) at $0.00001222.
However, the reversal saw SHIB slide to a late low of $0.00001165. Steering clear of the First Major Support Level (S1) at $0.00001139, SHIB recovered to end the session at $0.00001182.
Sentiment Toward the Shubarium Upgrade and Whales Deliver Support
There were no Shibarium updates on Saturday to support a bullish SHIB session. However, increased whale appetite continued to send bullish signals, with investors expecting the Shibarium upgrade to have a material price impact.
According to WhaleStats, the top 100 ETH whales held $597,571,508 SHIB on Saturday, placing it at the top of the hodling table. WhaleStats also stated that SHIB flipped CHZ for the most traded token among the top 100 ETH whales.
The increased activity comes ahead of the Shibarium upgrade as investors wait for further details from the Shibarium Network.
DOGE made gains despite a lack of updates from the Dogecoin Foundation. However, news of Elon Musk pushing for McDonald’s (MCD) to accept DOGE delivered support. This week, Elon Musk, “Mr. Tweet,” announced,
“I will eat a happy meal on tv if McDonald’s accepts Dogecoin.”
There was interaction between McDonald’s and Musk on Twitter on Friday. After an extended period of silence, investors took the tweets as Musk’s continued support for DOGE.
Today, investors need to continue monitoring the crypto news wires for updates on Shibarium and Twitter. However, a lack of updates would leave the pair in the hands of the broader crypto market. The NASDAQ mini could influence the mood in the final hour as investors turn toward Wednesday’s Fed interest rate decision.
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