Shiba Inu (SHIB) and Dogecoin (DOGE) Pull Back Might Trigger A Crash – Crypto Experts Warn

Shiba Inu (SHIB) and Dogecoin (DOGE) are today pulling back.  Looking at the past few days shows that their prices have posted a significant decline. As of the past 24 hours of this writing, both coins had recorded a decline of about 2%.

Crypto analysts are warning that these coins might be headed for a bearish condition. This is because the two coins' buying pressure seems to be fading over the last few days. The last two days have actually been posting a decline, which can be seen on the charts.

Why Shiba Inu (SHIB) and Dogecoin (DOGE) Surged

Shiba Inu (SHIB) and Dogecoin (DOGE) are two coins impacted indirectly by Elon's Twitter takeover. Immediately after the news about the Elon Musk Twitter buying started spreading, the up-ticking for these coins started.

After the acquisition of Twitter, Dogecoin (DOGE) increased by over 150% in less than a week, while Shiba Inu (SHIB) increased by over 30% during the same period. The reason why Shiba Inu and Dogecoin surged is the anticipation that these two coins might be adopted by Twitter as payment currencies.

The anticipated demand that these coins are expected to get if they are adopted is what attracts crypto investors. That's why thousands of new investors bought Dogecoin (DOGE) and the accumulation of the coin also skyrocketed.

Similarly, Shiba Inu (SHIB) also saw an increase in the adoption of the coin. So the relationship that Elon Musk has with Shiba Inu (SHIB) and Dogecoin (DOGE) is the reason why these coins did well after the Twitter takeover.

Why Crypto Experts Are Warning

Crypto analysts are warning that Shiba Inu and Dogecoin might soon start recording a decline in the next few days. This is because the integration of these coins into the Twitter platform may not happen as fast as most people had anticipated.

Therefore, the demand for these coins might start dying, and then a crash might be triggered by the growing selling pressure. Therefore, the next few days might see the demand for these coins plummet.

Bitgert (BRISE) and Centcex (CENX) Competition

Crypto analysts have also cited tough competition as the reason Shiba Inu and Dogecoin might not do well in the next few days. Bitgert (BRISE) and Centcex (CENX) have, for the last few months, been the toughest DOGE and SHIB competitors.

With Bitgert (BRISE) and Centcex (CENX) getting better this month, then the DOGE and SHIB competition is expected to get tougher. Most of their investors will sell to buy BRISE and CENX.