Breaking Coin | Memecoins Hype Fading Away! As DOGE, SHIB, And BONK Prices Experience A Plunge?

Memecoins Hype Fading Away! As DOGE, SHIB, And BONK Prices Experience A Plunge?
Click to Buy All Coins with 10% Commission Discount with Credit or Debit Card.
Mexc https://bit.ly/3qOKVr4 , Bitget https://bit.ly/3EvMUo1,
The memecoins had successfully concluded the previous year on a strong bullish sentiment, highlighting a rise in the investor’s interest in them.

Click link https://bit.ly/49mHpVZ to read the original text on Coinpedia.org
( Trusted Crypto Agency for News, Information, Exchange, PR, Blockchain Events, Crypto Wallet and Else related to Decentralized World.)
_______________________________
However, this year has started on a bearish note as the memecoin category has displayed significant correction in their respective valuation.
Further, the BONK price has recorded the highest loss among the top three tokens, with a correction of approximately 25% in valuation. Followed by the category leader, Dogecoin, which has recorded a loss of 12.25% Year-To-Date, and lastly, the SHIB token with a correction of 13.70% YTD.
Dogecoin Price Analysis:
The leader of memecoins, Dogecoin price traded in a closed range between $0.08931 and $0.09366 for a while, following which the market lost momentum, resulting in a price breakdown. The DOGE price recorded a correction of approximately 11% in valuation, following which the price traded between $0.07981 and $0.08416 for the next few days.
As the market volatility increased, the price experienced constant fluctuations in the chart. After multiple failed attempts, the bulls successfully broke out of the range, but the rally was short-lived, resulting in a pullback within the range.
Following multiple failed attempts to breach its important resistance level, Dogecoin has been trading in a consolidated range between $0.07597 and $0.08416.
The technical indicators highlight a bearish influence as both MACD record a bearish convergence and the Cross EMA 50/200-day acts as a resistance to the chart, indicating a bear power in the crypto market.
If the market pushes the price above the resistance level of $0.07981, the bulls will regain momentum and prepare to test its upper resistance level of $0.08416 this month. Conversely, if the bear overpowered the bulls, the price would lose momentum and prepare to test its support level of $0.07597 soon.
Shiba Inu Price Analysis:
The SHIB price started the year by trading in a neutral trend for the first few days. After this, the Shiba Inu lost momentum and recorded a correction of over 12% in valuation. Following this, the memecoin traded in a consolidated range between $0.00000926 and $0.00001012 for a while.
The bears overpowered the bulls, resulting in a price breakdown but the bulls held the price above the support level of $0.00000879 and the Shiba Inu price bounced back within the range. Following this, the price continued to trade in the range for the next few days.
As the market volatility increased, the bulls lost momentum and recorded a breakdown in the chart. Since then, the price has been trading in a closed range between $0.00000879 and $0.00000926, indicating a weak price action for the coin in the market.
The MACD displays a neutral histogram, indicating a weak price action for the coin in the market. On the other hand, the averages show a high possibility of a bullish convergence, highlighting a mixed sentiment in the market.
If the bulls gain power, the SHIB price will prepare to test its resistance level of $0.00000926 in the coming time. Conversely, if the bears continue to dominate the market, the price will be prepared to test its important support level of $0.00000879 by the coming week.
BONK Price Analysis:
The best-performing token of the year 2023, started this year on a strong bearish note as the price lost approximately 36% within the first eight days. After testing its crucial support level of $0.000009635, the bulls regained momentum and jumped over 32% within a day, following which the price experienced a minor pullback.
The bulls quickly regained power and recorded a jump of approximately 32% in valuation. The BONK price faced a trend reversal at $0.000015988 and lost over 16%, after which the BONK price bounced back. The price recorded a jump of just over 26%, following which the price traded under a bearish influence for the next two weeks.
_______________________________
#cryptocurrency, #crypto wallet, bitcoin, token, exchange, wallet, crypto whale, crypto hand
coin, bone token, crypto news, crypto today, crypto market, crypto stacking
_______________________________
Disclaimer, The information provided on this video does not constitute investment advice,
financial advice, trading advice, for informational purposes only,
you should not treat any of the video's content as such.
Please, consult your financial advisor before making any investment decisions.

#breakingcryptonews #shiba #shib #shibarium