Shiba Inu and Dogecoin have always been regarded as rivals, with Shib being regarded as an answer to its predecessor. Right now, data shows that Shib has underperformed Dogecoin, with experts believing celebrity endorsement to be one of the main reasons. However, Doge’s relative strength index has remained consistently above 70, a figure that indicates “overbought” conditions. This movement is regarded as potentially troublesome by market participants, as it can mean that the original meme coin is set to lose value in the near future.
Shiba Inu, on the other hand, has been positioned in a neutral area, which suggests the value has plenty of room to evolve. As a result, most investors believe that they need to prepare themselves for a bull run. The SHIB/DOGE pair is well-known to traders, many of whom have invested in it over the years. Users who want to increase their likelihood of success know that they should look to the RSI associated with this asset class as well. The conditions point to “oversold,” meaning Shib’s selling pressure will be exhausted when compared to Dogecoin.
Dogecoin is set to experience a cool-off period, which could very well result in capital moving to Shiba Inu instead, propelling the formation of a rally. In the past, similar technical setups could have led to rallies as big as 150%. The fact that the current United States administration appears to be almost unanimously crypto-friendly is also very helpful, as it leads investors to believe that a rally is definitely in the making.
