Dogecoin & Shiba Inu Struggle! Are the Memecoin Glory Days Over?
Cryptocurrency markets are constantly regaining momentum, while top tokens lose huge valuations in their respective portfolios. It is worth noting that the top token fails to hold its value above its important support level, indicating an increase in uncertainty in price action.
Investors are closely following Fomo&Fud’s portfolio due to extremely turbulent market turmoil. In this article, we cover market sentiment and possible short-term price analysis for the highest adults.
Dogecoin (Doge)
Doge Memecoin lost about 3% in 24 hours, with trading volume of $18.21 billion. In addition, it lost 23.84% and 25.16% in the past seven days. YTD returns of -21.59%, and Dogecoin price has a market capitalization of $36.633 billion.
The Relative Strength Index (RSI) records a bearish curve over the daily time frame and is on the verge of retesting its oversell range. Furthermore, as its SMA indicators continue to act as a resistance to the chart, the Governor’s price may continue to lose value in the upcoming time.
Assuming the Bulls recovered their momentum, the Dogecoin price could violate $0.265 resistance and go upwards highs of $0.325. Instead, the increase in bearish action may raise the price to its low price below $0.200.
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Shiba Inu (Shib)
Despite the gains of 2.98% in the past few days, the price of Shiba INU has dropped 16.53% in valuation over the past seven days and fell 25.68% in 30 days. With a market capitalization of US$9.271 billion, it has won the 16th place on the global cryptocurrency market list.
Moving average convergence difference (MACD) records a rising red histogram with the average showing a similar price trend. Furthermore, EMA witnessed the death cross on 50/200 days, indicating a bearish outlook for the second largest memorial in the cryptocurrency market.
Putting the price above its resistance level at $0.0000170 can raise the stage of volunteer INU prices to its upper high of 0.00002350. However, if the bear maintains its advantage, the meme coin may retest its low of $0.000011175.
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FAQ
With the increase in adoption, Dogecoin’s price can reach the $1 milestone this year.
If bullish sentiment is maintained, Dogecoin may exceed $3 by 2030.
The target price of this meme is extremely unlikely to reach $1.
A 24-hour transaction volume is $319.01 million, and a Shib Crypto token is $0.00001549.
