Dogecoin & Shiba Inu Struggle! Are the Memecoin Glory Days Over?
The cryptocurrency market constantly fails to regain momentum with top tokens losing significant valuation in their respective portfolios. Notably, top tokens have failed to hold their value above their important support levels, indicating rising uncertainty in price action.
With the market turning extremely volatile, investors are closely watching their portfolios with constant FOMO & FUD. In this article, we have covered the market sentiment and possible short-term price analysis of the top memecoins.
Dogecoin (DOGE)
The price of DOGE memecoin has lost ~3% to its valuation in 24 hours with a trading volume of $1.821 billion. Further, it has lost 23.84% over the last seven days and 25.16% in 30 days. With a YTD return of -21.59%, the Dogecoin price has a market cap of $36.633 billion.
The Relative Strength Index (RSI) records a bearish curve in its daily time frame and is on the verge of retesting its oversold range. Further, with its SMA indicator constantly acting as a resistance to the chart, the DOGE price may continue losing value in the coming time.
Suppose, the bulls regain momentum, the Dogecoin price could breach its resistance of $0.265 and head toward its upper high of $0.325. Conversely, an increase in the bearish action could pull the price toward its low of $0.200.
Are you curious to find out if the DOGE coin price will reach $1 this 2025? Read our latest Dogecoin Price Prediction to explore the possible long-term mysteries!
Shiba Inu (SHIB)
Despite recording a jump of 2.98% over the past day, the price of Shiba Inu has lost 16.53% in valuation over the last seven days and 25.68% in 30 days. With a market cap of $9.271 billion, it has secured the 16th position in the global crypto market list.
The Moving Average Convergence Divergence (MACD) records a rising red histogram with its averages displaying a similar price trend. Further, the EMA 50/200-day witnessed a Death Cross, suggesting a bearish outlook for the second largest memecoin in the cryptocurrency market.
Reclaiming the price above its resistance level of $0.0000170 could set the stage for the Shiba Inu price to head toward its upper high of $0.00002350. However, if the bears maintain dominance, this meme coin could retest its low of $0.00001175.
Planning on investing in the second largest memecoin by market capitalization? but concerned about its long-term projection? Read our Shiba Inu Price Prediction until 2030 to uncover the possible mysteries!
FAQs
With increased adoption, the Dogecoin price could achieve the milestone price of $1 this year.
If the bullish sentiment sustains, the price of Dogecoin could surpass the $3 mark by the year 2030.
It is highly unlikely for this memecoin to achieve the target price of $1.
With a 24-hour trading volume of $319.901 million, the value of one SHIB crypto token was $0.00001549.
