SHIB slips to 20-day low, DOGE also falls

The Shiba inu was in the red to start the week, with prices falling to a 20-day low on Monday. The meme currency has now fallen for four consecutive sessions, with the latest decline seeing the price fall below a key support point. Dogecoin was also down, hitting a two-week low earlier in the day.

Shiba Inu (SHIB)

Shiba inu (SHIB) was down on Monday, with the meme coin hitting its lowest point in the past 20 days. After peaking at $0.000009282, SHIB/USD fell nearly 5% today, hitting a low of $0.000008794 in the process.

This low is the lowest point at which SHIB has traded since November 22, when the token was at a low of $0.00000817.

As can be seen on the chart, this move comes as shiba inu broke a floor at the $0.00000885 mark. The 14-day Relative Strength Index (RSI) also fell, dropping below a low at the 43.70 level.

If this bearish momentum continues, we could see SHIB sellers attempt to recapture the low seen on November 22.

Dogecoin (DOGE)

Dogecoin (DOGE) also remained in the red to start the week, as it also fell for a fourth consecutive day. DOGE fell to an intraday low of $0.08729 on Monday, less than 24 hours after hitting a high of $0.09682.

Following the drop, which saw DOGE fall nearly 10%, the token hit its lowest point since Nov. 25.

Looking at the chart, the bearish momentum has recently intensified following a drop below a 48.00 low on the RSI. The 10-day moving average (red) also appears to be heading towards its 25-day counterpart (blue), with a downward crossover looking inevitable.

If this crossover occurs, DOGE is likely to move even lower, with a floor of $0.080 as a possible destination.