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The cryptocurrency market is witnessing notable activity in memecoins like Shiba Inu (SHIB), Dogecoin 
$0.192253 (DOGE), and Floki (FLOKI). SHIB has stabilized at $0.00001337 after a 1.7% decline in the last 24 hours, and if it maintains support at $0.000013, it signals potential recovery. Meanwhile, Dogecoin is moving within an ascending parallel channel, and if it stays above the $0.16 support level, it could target prices as high as $2.74 or $6.24. Floki stands out with a potential increase up to five times its current price.
Key Support Levels for Shiba and Dogecoin
Shiba Inu has successfully held above the $0.000013 level in recent weeks. According to crypto analyst Ali Martinez, if this level is maintained, there is a possibility for SHIB to rise to $0.000020. However, Fibonacci retracement levels indicate a risk of decline to $0.000012 or $0.0000094. Additionally, breaking through the resistance range of $0.000018 to $0.000023 is critical for SHIB.
Dogecoin is technically viewed positively as it operates within an ascending parallel channel. Applications for spot Dogecoin ETFs from institutions like Grayscale and CoinShares are attracting investor attention. An impending ETF approval could enhance DOGE’s accessibility to institutional investors, thereby providing price stability. Analysts note that if the $0.16 support is maintained, DOGE is focusing on price targets of $2.74 and $6.24.
Floki’s 5X Target and Technical Indicators
Floki‘s technical analysis highlights Fibonacci support at $0.000068057. The formation of a cup and handle pattern suggests a potential rise to $0.000357918. Analyst CryptoELITES mentions that FLOKI could test $0.00037126 with a fivefold increase from current levels, with secondary targets set at $0.00116900 and $0.00524350.
Activity in Floki is boosting investors’ long-term expectations. However, achieving these targets requires substantial market momentum and favorable macroeconomic conditions. The price increase combined with a decline in indicators, known as a “hidden bullish signal,” indicates strong buying pressure within the memecoin space.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
