Wednesday, February 21, 2024
HomeUncategorizedMemecoins slump, will DOGE and SHIB prices surge again in August?

Memecoins slump, will DOGE and SHIB prices surge again in August?

The cryptocurrency market after a brief jump is back in the same bearish well, wiping out all the gains made during the most recent jump. Just a few days ago, Bitcoin price was closer to breaking out of the bearish trend and setting a clear path towards $30,000. However, recent price action suggests that BTC prices may now be forming lower levels, below the yearly highs.

In this case, the popular altcoin followed by Ethereum is also expected to drop significantly. As we all know, the DeFi and NFT fields will be severely affected by the ETH price crash, which may be 10 times that of the top 2 crypto assets.

So a leg being pulled lower could send Dogecoin and Shiba prices down another 20% to 25% by the end of August.

Dogecoin (DOGE) doge

        • ) The price of DOGE after the recent rejection attempts to break the upper resistance level and may touch the lower support level
          • may bounce off lower support, but May not have the impact of a large drop in volume at a larger support level

Therefore, before the asset reaches its apex, a small consolidation may be imminent and the asset may follow the path of the induced volume Further flow towards the vertex.

shibinu Shiba Inu)

    • Shiba Inu prices oscillated within a parallel ascending channel that was broken during the recent rally. However, the price fell back within the same channel but showed an uptrend shibinu
      shibinu The volume has dropped significantly, which may be a rebound to the current consolidation along the midline Negative Influence Channels

    • If SHIB price rises beyond the mid-range, then the likelihood of a retest of the overhead resistance seems high
    • shibinu



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