A RETURN OF DOGE TO $0.10 WOULD SIGNAL A RETURN TO $0.12

Dogecoin (DOGE) and shiba inu coin (SHIB) both experienced significant losses on Tuesday, with DOGE falling for the fourth straight session. With the demise of FTX and the SEC's victory in its case against LBRY, Twitter (TWTR) headlines took a backseat. The technical indicators became bearish, with DOGE and SHIB below their 200-day exponential moving averages (EMAs).

On Tuesday, dogecoin (DOGE) fell 20.68 percent. Following a drop of 3.07% on Monday, DOGE closed the day at $0.08822. Notably, DOGE closed below $0.10 for the first time in eleven sessions and extended its losing skid to four sessions.

After a bearish morning, DOGE reached a high of $0.1130 in the late afternoon. DOGE reached a late low of $0.07704 after failing to surpass the First Major Resistance Level (R1) at $0.1178. DOGE fell below the Day's Major Support Levels due to the prolonged sell-off. The Third Major Support Level (S3) at $0.08840 restrained DOGE late in the session.

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On Tuesday, Shiba inu coin (SHIB) fell by 13.90%. Following a loss of 0.34% on Monday, SHIB's closing price was $0.00001016.

SHIB reached a morning high of $0.00001189 despite a shaky start to the day. SHIB fell to a late-afternoon low of $0.000000923 after failing to surpass the First Major Resistance Level (R1) at $0.00001211. SHIB dropped below the day's Major Support Levels to less than $0.000010 before staging a partial rebound to close at $0.00001016.

As investors coped with the news of an FTX liquidity shortage, sentiment toward Twitter (TWTR) and Elon Musk took a back seat. FTX Token (FTT) sank to its lowest point since April 2020 before closing the day 75% down. The news that Binance planned to acquire FTX was somewhat reassuring, but it failed to restore market order.

Fears of contagion and the escalating danger of regulatory action have put DOGE and SHIB in the red. This morning, market conditions did not improve as investors awaited the initial effects of FTT's demise. However, it may take some time for investors to fully comprehend the effects of the FTT fall.

DOGE was down 1.05% at $0.08730 at the time of writing. The DOGE price rose to a day's high of $0.08983 before falling to a day's low of $0.08147.