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- The bearish crossover between the key moving averages has been generated in Dogecoin and Shina Inu.
- Pepe crypto price has managed to defend the 200-day EMA till now.
- Dogecoin crypto is in the top 10 in the cryptocurrency market in terms of market capitalization.
The top 3 meme-coins this week are Dogecoin, Shiba Inu, and Pepe in terms of market capitalization. DOGE and SHIB were extremely bearish, while PEPE was mildly bearish at the time of writing.
Dogecoin and Shiba Inu are trading below the 200-day EMA, while Pepe has defended it till now.
Death Crossover in Key Moving Averages; One More Bearish Move in DOGE Loading?
Dogecoin crypto was being traded at $0.109, which has risen by 1.56% in the past 24 hours. The market capitalization was $15.87 Billion, and the 24-hour trading volume was $413.51 Million at the time of writing.
On a wider time frame, the DOGE price has been bullish and rising by taking support on a trendline. The price has slipped below the major support level of $0.130 in the short term.
It seems like the price has acquired the liquidity below the major support level and is ready to shoot up. If the price manages to surpass the 200-day EMA, strong buying momentum can be seen due to liquidity.
Alternatively, the trend might be clear if the Dogecoin price forms a bearish candlestick after a recent consolidation. This negative candle might attract sellers, which may lead to strong selling pressure.
SHIB Price Shaped Hammer Candlestick at Bottom; Reversal on Its Way?
In a daily time frame, the Shiba Inu crypto price has formed a hammer candlestick. The ‘hammer’ has interrupted the bearish trend, and the price has risen by 32% in a week from the bottom.
At press time, the digital asset price has extended to the 20-day EMA and is facing resistance. If the price manages to surpass the 20-day EMA and is sustained over the 200-day EMA, buyers may become confident.
Investors might show interest if the Shiba Inu price sustains the $0.0000300 hurdle. This zone may be a buying zone, and the price may perform positively.
On the other hand, if the crypto asset price slips below the recent low, buyers might lose momentum, and sellers may lead the trend.
Will Pepe Price Manage to Defend the 200-day EAM?
Pepe crypto price has recorded an all-time high of $0.0000171 on May 27, 2024. After its ATH, the Pepe price chart has displayed profit booking momentum and has dropped to the 200-day EMA.
Suppose the price forms a base at the 200-day EMA; buyers might get involved. Surpassing the 20-day EMA may lead to a strong bullish momentum.
Instead, if the PEPE price starts trading below the 200-day EMA, most investors might prefer to book profit. The profit booking may lead to a strong bearish trend.
Closing Remarks
The Top 3 Meme-coin of This Week are DOGE, Shiba Inu, and Pepe. Among them, only DOGE crypto is in the top 10 regarding market cap.
DOGE and SHIB were strongly bearish, while PEPE was mildly bearish at press time. Pepe crypto price chart has managed to defend the 200-day EMA, while Dogecoin and SHIB have failed to do so.
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.
