The crypto-verse constantly fails to regain momentum with top tokens erasing significant valuation from their portfolios. Moreover, top tokens have plunged below their important support levels, indicating rising uncertainty in price action.
With the market turning extremely volatile, investors are closely watching the charts of the top memecoins. In this article, we at CoinPedia have uncovered the market sentiment and possible short-term price analysis of Dogecoin (DOGE) and Shiba Inu (SHIB).
Dogecoin (DOGE)
The price of Dogecoin has dropped by 1.58% in 24 hours with a trading volume of $1.115 billion. Moreover, it has lost 33.11% over the past month and has a Year-to-Date (YTD) return of -16.16%. With a market cap of $39.224 billion, it has a dominance of 1.2695%.
The EMA 50-day displays a bearish curve in the daily time frame. On the other hand, the 200-day EMA acts as a strong support in the DOGE price chart. With its RSI indicator hovering below the neutral trendline, this memecoin hints at increased price volatility.
Reclaiming the price above its resistance level of $0.2650 could set the stage for the Dogecoin price to head toward its upper high of $0.3250. Conversely, if the bears maintain dominance, this meme coin could retest its low of $0.20750 in the coming time.
Curious to find out if the DOGE coin price will reach $1 this 2025? Read CoinPedia’s latest Dogecoin Price Prediction today to explore the possible long-term mysteries!
Shiba Inu (SHIB)
Despite recording a jump of ~3% over the last seven days, the SHIB memecoin has lost 29.53% in 30 days and has a YTD return of -24.05%, highlighting a long-term bearish action for the memecoin in the cryptocurrency space.
The Moving Average Convergence Divergence (MACD) displays a rising green histogram in the daily time frame with its averages recording a similar price action. However, the EMA 50/200-day records a negative price action in the SHIB price chart, suggesting mixed price sentiment for the 2nd largest meme coin.
Suppose, the market favors the bulls, in that case, the Shiba Inu price will surpass its immediate resistance level of $0.0000170 and head toward its upper high of $0.00002350. However, a bearish reversal could pull the price toward its low of $0.00001175 in the coming time.
Planning on investing in the second largest memecoin by market capitalization before the altcoin season starts? Read our latest Shiba Inu Price Prediction to uncover the possible mysteries!
FAQs
If the bullish sentiment sustains, the Dogecoin price may surpass the $1 target price in this altcoin market.
With increased bullish action, the largest memecoin may reach a maximum trading price of $1.
Amid rising volatility, the price of SHIB memecoin may range between $0.0000201 and $0.00006392.
At the time of writing, the value of one Shiba Inu memecoin was $0.00001593.
