DOGE has dropped by 21% in the last month, facing resistance near $0.14. SHIB broke below $0.00001837 support and might fall to its January low. FLOKI has seen losses for 8 days straight, possibly finding support near $0.0001431 from May.
The memecoin market has seen a major downturn, with its total market value dropping by 10% to $46.499 billion. This decline is part of a larger correction across the cryptocurrency market, which has decreased by 2.09% to a total market value of $2.36 trillion. Bitcoin has also been affected, experiencing a 1% drop and maintaining a price near $65,000.
Dogecoin (DOGE) Faces Significant Decline
Dogecoin (DOGE) has experienced a notable downtrend over the past month, with its value declining by 21%. This downward trajectory has been evident on both weekly and daily charts, reflecting losses of 13% and 8.30%, respectively.
The decline followed an unsuccessful attempt to surpass the resistance level at $0.14, resulting in a drop to a support level around $0.1179. Despite these challenges, a potential recovery could occur if Dogecoin manages to break above the critical resistance barrier at $0.138. Successful upward movement could lead to further resistance levels at $0.150 and $0.175.
Conversely, if the bearish trend persists and Dogecoin falls below the support level of $0.113, it may target lower support zones at $0.074 and $0.069. As of the latest update, Dogecoin is trading at $0.1225, with a market capitalization of $17.73 billion, reflecting an 8.28% decrease in the past 24 hours.
Shiba Inu (SHIB) Faces Significant Decline
Shiba Inu (SHIB) has recently experienced a sharp decline, breaking through the critical support level at $0.00001837, a price last seen on April 13. Over the past day, SHIB has dropped by 9.50%, reaching a price of $0.00001829.
On a broader scale, SHIB has recorded declines of 19% and 26% on the weekly and monthly charts, respectively. If the current downtrend persists, SHIB could potentially aim for the January low at $0.000008407. However, if there is a recovery from its current level, SHIB might test resistance at $0.00002630.
PepeCoin Faces Significant Price Reduction
PepeCoin has recently undergone a substantial price decline, plummeting by 38% from its all-time high of $0.00001718 on May 27 to its current price of $0.00001066. This represents a daily drop of 9.28% and a weekly decline of 10.59%.
Currently, PEPE is approaching a critical support level at $0.000009193. If this level fails to hold, further potential drops could lead PEPE to test support levels at $0.000007617 and $0.000005921. On the other hand, a potential recovery might propel PEPE towards recent highs at $0.00001243 and $0.00001389.
FLOKI Token Faces Persistent Declines
The FLOKI token has encountered significant challenges recently, enduring eight consecutive days of decline since reaching its peak of $0.0003462 on June 5. Despite a brief recovery attempt, the prevailing bearish trend led to an 11.89% drop in the last 24 hours, bringing the price down to $0.0001687.
This downturn translates into a 31% decline on the weekly chart and an 18% decrease on the monthly chart. Analysts anticipate potential support levels at the May low of $0.0001431, with further possible declines to $0.0001256 and $0.0001121 if the downward trend persists.
Conversely, if bullish momentum returns, FLOKI could aim for recent highs around $0.0002084 and potentially extend gains to $0.0002800.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
Join Cryptos Headlines Community
Follow Cryptos Headlines on Google News
Author
