The cryptocurrency market continues experiencing a bearish action with top tokens losing significant valuation in their respective portfolios. Reportedly, top cryptocurrencies are constantly failing to hold their value above their important support levels, highlighting rising uncertainty in future price action.
With the market turning unpredictable, investors are closely watching their portfolios with various doubts. In this article, we have covered the market sentiment, price analysis, and possible short-term price targets of Dogecoin (DOGE) and Shiba Inu (SHIB) memecoins.
DOGE Price Retests Its Important Support Trendline!
The Dogecoin price is hovering close to its important support level of $0.3250 with an intraday drop of 3.76% and a trading volume of $1.835 billion. Moreover, with a market cap of $48.281 billion, it has secured the 07th position.
The Moving Average Convergence Divergence (MACD) records a rising red histogram with its averages experiencing a bearish convergence. Moreover, its EMA 50-day indicator acts as a resistance to the Dogecoin price chart, suggesting a negative outlook.
Maintaining the price above its support level of $0.3250 could set the stage for the DOGE price to retest its upper high of $0.440. However, if the bears gains dominance, this meme coin could retest its low of $0.2650.
Wondering if DOGE Memecoin will reach $1 this 2025? Read our Dogecoin Price Prediction to explore the possible long-term mysteries!
Shiba Inu Price Records Increased Bearish Sentiment
The SHIB price has maintained its bearish action by dropping 4.43% in 24 hours with a trading volume of $401.42 million. Furthermore, it has plunged 12.92% in seven days and 26.74% in 30 days. This highlights an increase in the negative influence.
The Relative Strength Index (RSI) records a bearish curve in its daily time frame with its average displaying a negative reversal. Further, with its SMA indicator constantly acting as a resistance, the SHIB price may continue losing value this week.
If the bulls regain momentum, the Shiba Inu price could breach its resistance of $0.00002350 and head toward its upper high of $0.00003080. Conversely, an increase in the bearish action could pull the price toward its low of $0.0000170.
Planning on investing in SHIB memecoin but concerned about its long-term projection? Read CoinPedia’s Shiba Inu Price Prediction until 2030!
FAQs
If the bullish sentiment sustains, the largest memecoin by market cap could surpass the $1 mark this year.
At the time of writing, the value of one DOGE crypto token was $0.34227. One can stack 1,460.8350 Dogecoins.
The price of Shiba Inu could reach a maximum price of $0.0006392 by the end of 2025.
With a 24-hour trading volume of $401.42 million, the value of one SHIB crypto token was $0.00002090. With the current value, investors can stack 47,846,889.9521 Shiba Inu tokens.
