Biggest Movers: DOGE, SHIB Slip Following ECB Rate Hike – Market Updates Bitcoin News

The bank moved to increase rates by 50 basis points, despite the recent banking crisis. As a result of this many now expect that the Federal Reserve will continue to increase rates also.Dogecoin fell by over 5% on Thursday, as markets reacted to the latest interest rate decision from the ECB.

Following a high of $0.07313, DOGE/USD raced to an intraday low of $0.06814 earlier in today’s session.As a result of the decline, DOGE was once again trading below a key price floor at the $0.07000 mark. The catalyst for this appears to be a failed breakout of the ceiling at the 44.00 level on the 14-day relative strength index .In addition to DOGE, shiba inu was also in the red in today’s session, with prices trading close to a key price floor.

Thursday’s drop in price has seen the meme coin close in on a long-term support point at the $0.00001020 mark.However, a collision was averted, as the RSI bounced from a floor of its own, at the 38.00 zone.

Guess I'll be holding onto my dogecoins a bit longer then. DYOR

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