Dogecoin (DOGE) and Shiba Inu (SHIB) have been consolidating this weekend, while their rivals, Bitgert (BRISE) and Centcex (CENX), have been up-ticking. Looking at the charts, the two coins have been making slight moves up and down, with the last 7 days showing a small decline. Dogecoin was already 3.5% down over the last 7 days, while Shiba Inu was just 1% in the red during the same period.
This slight decline comes after explosive price growth over the last three weeks. According to the charts, Dogecoin (DOGE) has increased 103% in the past 14 days, which is the biggest price pump in the top 10 coins. The past 30 days show that DOGE had increased by 96%.
Shiba Inu (SHIB) has also done well in the past two weeks, with data showing that 25% increase as of this writing. However, over this weekend, these coins have also been consolidating, with the past 24 hours showing a 2% decline.
The Dogecoin (DOGE) and Shiba Inu (SHIB) were expected to happen once the hype around the Twitter takeover started dying. A lot of the growth that these cons posted is because of the attention they got from Elon Musk buying Twitter. The wild thought that these coins could be used on Twitter created massive buying pressure.
It's been days, and not much has been said about this move, which is why the hype is dying. This means some of the investors will be selling to take profits, and that's what's causing the Dogecoin (DOGE) and Shiba Inu (SHIB) decline we are seeing today.
As long as this hype is not ignited, these coins will continue to consolidate until the news about the integration or anything that will grow their demand comes out.
Dogecoin (DOGE) and Shiba Inu (SHIB) are now at a place where the price is at equilibrium. It needs to be pushed to go up, and at the same time, the chances of plummeting are very high. This is because the hype that skyrocketed these prices is slowly dying. Therefore, a bear run is highly possible, especially if is hawkish FED releases minutes this week.
In addition, DOGE and SHIB have tough competition to beat in Bitgert (BRISE) and Centcex (CENX). Bitgert and Centcex have been the biggest rivals and will remain so despite the recent price explosion. Therefore, we might see these coins pull back more next week.
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