Dogecoin & Shiba Inu Lose Price Gains But Traders Think This New Trending Meme Coin Could Be Primed for Growth
The post Dogecoin & Shiba Inu Lose Price Gains But Traders Think This New Trending Meme Coin Could Be Primed for Growth appeared on BitcoinEthereumNews.com. The meme coin market continues to face extreme volatility, with Dogecoin (DOGE) and Shiba Inu (SHIB) seeing significant price swings. Both DOGE and SHIB saw a steep drop over the past 72 hours, leaving investors in a state of uncertainty. However, one coin defying the trend and continuing to garner attention is Meme Kombat (MK) – which has now raised almost $600,000 during its limited-time presale event. Dogecoin Struggles as Price Nears Crucial $0.057 Support Zone DOGE has struggled in recent weeks, with its price down over 9% since the start of October. The world’s largest meme coin faced rejection at the $0.063 resistance level for the second time, with colossal selling pressure pushing its value lower. Traders are unsure whether DOGE can reverse its downtrend, believing further declines may be on the cards. Currently, DOGE is trading around the $0.058 level – directly above a strong support zone at $0.057. This support zone has been tested repeatedly since mid-August, with the latest rejection coming on October 9. Given that Dogecoin has closed bearishly in three out of the last four days, there’s a growing belief that the coin might test the $0.057 support level again. Further declines could be in store if it fails to hold this support. With the Dogecoin sentiment tracker plummeting over the last 48 hours, it looks like a challenging period ahead for DOGE bulls. Shiba Inu Headed for Further Downside as Trading Volumes Drop The price of Shiba Inu is also facing increased pressure, with the token dropping to $0.00000673 over the past three days. SHIB is trapped in a falling wedge pattern on the daily chart, creating lower highs and lower lows, showcasing the ongoing selling activity. The 50-day Exponential Moving Average (EMA) is acting as a dynamic resistance level for SHIB, indicating…
The post Dogecoin & Shiba Inu Lose Price Gains But Traders Think This New Trending Meme Coin Could Be Primed for Growth appeared on BitcoinEthereumNews.com.
The meme coin market continues to face extreme volatility, with Dogecoin (DOGE) and Shiba Inu (SHIB) seeing significant price swings. Both DOGE and SHIB saw a steep drop over the past 72 hours, leaving investors in a state of uncertainty. However, one coin defying the trend and continuing to garner attention is Meme Kombat (MK) – which has now raised almost $600,000 during its limited-time presale event. Dogecoin Struggles as Price Nears Crucial $0.057 Support Zone DOGE has struggled in recent weeks, with its price down over 9% since the start of October. The world’s largest meme coin faced rejection at the $0.063 resistance level for the second time, with colossal selling pressure pushing its value lower. Traders are unsure whether DOGE can reverse its downtrend, believing further declines may be on the cards. Currently, DOGE is trading around the $0.058 level – directly above a strong support zone at $0.057. This support zone has been tested repeatedly since mid-August, with the latest rejection coming on October 9. Given that Dogecoin has closed bearishly in three out of the last four days, there’s a growing belief that the coin might test the $0.057 support level again. Further declines could be in store if it fails to hold this support. With the Dogecoin sentiment tracker plummeting over the last 48 hours, it looks like a challenging period ahead for DOGE bulls. Shiba Inu Headed for Further Downside as Trading Volumes Drop The price of Shiba Inu is also facing increased pressure, with the token dropping to $0.00000673 over the past three days. SHIB is trapped in a falling wedge pattern on the daily chart, creating lower highs and lower lows, showcasing the ongoing selling activity. The 50-day Exponential Moving Average (EMA) is acting as a dynamic resistance level for SHIB, indicating…
What's Your Reaction?
