- Pepe crypto price has triggered a breakdown from the trendline.
- The Floki price has declined by 52% in the past 17 days, showing a bearish forecast.
- Dogwifhat price has lost around 61% in a month and is heading for a new all-time low.
This week’s top 5 meme coins are Dogecoin, Shiba Inu, Pepe, Dogwifhat, and Floki in terms of market capitalization. All these meme cois are in a bearish trend because the current cryptocurrency sentiment is bearish.
Dogecoin Price Technical Analysis Over 1-D Timeframe
At press time, the Dogecoin price traded at $0.118, dropping by 2.77% in the past 24 hours. The market capitalization is $17.18 Billion, and the 24-hour trading volume is $642.30 Million. The circulating and the total supply is 144,838,206,384 DOGE.
The Dogecoin price has slipped below the major support level of $0.125 and spent a week. The price has slipped below the 200-day exponential moving average and inviting the sellers by a breakdown.
Selling below this level might get trapped if the price bounces back and surpasses the $0.125 mark. Liquidity grabs can result in strong buying pressure, and buyers may be eyeing for a 52-week high.
On the other hand, if the Dogecoin price remains below the major support level, sellers may become confident. The price may easily melt to the $0.100 mark if sellers show interest.
Technical Analysis of Pepe Price on Daily Timeframe
The chart structure displays that the Pepe price has triggered a breakdown from the trendline. The PEPE crypto price has defined its way after a small consolidation of a week.
The Pepe price has made many attempts to exceed the 20-day EMA in the past few days, but sellers seem to be stronger and are eyeing the 200-day EMA. On the other hand, the price over the 200-day EMA might attract buyers and result in a bullish trend.
WIF Crypto Price Dropped Violently; Will It Decline More?
The Dogwifhat price chart has displayed a sharp down move and has lost more than 60% in less than a month. The price has declined by 40% in a week, which shows the strength of the sellers.
Assuming a huge buying pressure experience and investors show interest, a reversal can be expected. If the buyers fail to bounce back, sellers might remain strong and eye for a new all-time low.
Floki Price Prediction Over 1-D Timeframe
In the first week of June, the FLOKI crypto price recorded an all-time high of $0.000349. The chart shows that the FLOKI price failed to defend the $0.000300 hurdle and witnessed strong selling pressure of 53% in 17 days.
The Floki price has reached the 200-day EMA, but sellers are too strong and forming completely negative candlesticks. Assuming the price starts trading below the 200-day EMA, it may continue the bearish trend for the long term.
Shiba Inu Price Forecast on a Daily Time Frame
The SHIB price witnessed a strong buying pressure of 340% in a week at the beginning of March. However, it was unable to continue and displayed strong selling pressure.
The technical chart demonstrates a strong bearish trend because it has failed to reach the last swing high and dropped below the 200-day EMA. As per the chart, the price is expected to reach the crucial level of $0.0000120.
Conclusion
This week’s top 5 meme coins are Dogecoin, Shina Inu, Pepe, Floki, and Dogwifhat, based on market capitalization. All these meme coins are bearish due to the sentiment of the cryptocurrency market. Dogecoin’s price has declined below the major support level of $0.125, which indicates the sellers’ strength. Pepe price has triggered a breakdown from the trendline showcasing the negative forecast. After losing 55% in less than three weeks, the price has reached the 200-day EMA.
Disclaimer
This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.
