Shiba Inu Consolidates Alongside Dogecoin Following Monday’s Sharp Rise: A Technical Analysis

Shiba Inu (CRYPTO: SHIB) was trading mostly flat during Tuesday’s 24-hour trading session after rejecting the 50-day simple moving average (SMA) for the fourth straight day in a row. On Monday, Shiba Inu popped up over 8% at one point, likely in response to Dogecoin (CRYPTO: DOGE), which surged about 32% after Elon Musk changed Twitter’s icon from a bird to a doge image.