SHIB’s price might increase to $0.000026, with indicators suggesting DOGE could rise to $0.18. BONK’s structure flashed a golden cross, indicating a possible rise to $0.00035, while FLOKI’s bullish thesis was invalidated, suggesting a decline to $0.00019.
According to CoinMarketCap, meme coins like Shiba Inu (SHIB) and Dogecoin (DOGE) are rebounding after a recent dip. As of now, SHIB has risen by 3.76% in the past day, while DOGE saw a 4.95% increase. Similarly, Bonk (BONK) and Floki Inu (FLOKI) have also experienced price surges. The question remains whether these gains will sustain in the coming days.
SHIB Price Analysis: Potential for Further Increase
At the current moment, SHIB is trading at $0.00002493. Observing the 4-hour SHIB/USD chart reveals a notable uptick in the On Balance Volume (OBV). This increase in OBV indicates heightened buying pressure in the market.
If the OBV were to decline, it would signal a potential increase in selling pressure. However, with the Relative Strength Index (RSI) recently crossing above the neutral zone, SHIB appears poised for a continued upward movement.
SHIB/USD 4-Hour Chart (Source: TradingView)
In the event of this scenario unfolding, SHIB could potentially reach $0.00002680 in the near term. This suggests a bullish outlook for SHIB, supported by current technical indicators.
Dogecoin Price Analysis: Potential Upside and Market Outlook
Currently, Dogecoin (DOGE) is trading at $0.16, showing a price movement similar to SHIB. The parabolic SAR indicator suggests that DOGE is positioned for further upward movement in the short term.
According to the indicator, DOGE could potentially reach $0.18 before encountering resistance and entering a period of market volatility. Additionally, the Awesome Oscillator (AO) is indicating positive momentum, suggesting continued upward pressure on the price.
DOGE/USD 4-Hour Chart (Source: TradingView)
However, if DOGE reaches the $0.18 mark, there is a possibility that the rally could face rejection, leading to a temporary pullback in price. This analysis highlights potential scenarios for DOGE based on current technical indicators.
BONK Price Analysis: Potential Upside with Golden Cross Signal
BONK, a meme coin, recently exhibited a bullish technical signal known as a golden cross on its Exponential Moving Average (EMA) chart. This occurred when the 9 EMA (blue line) crossed above the 20 EMA (yellow line), indicating a potential uptrend for the coin.
With this bullish crossover in place, BONK’s price is anticipated to increase, potentially reaching up to $0.000035 in the near term. Additionally, there is notable support around $0.00030, which could act as a stabilizing factor, helping to sustain upward momentum and mitigate downside risks.
BONK/USD 4-Hour Chart (Source: TradingView)
This analysis suggests that BONK might experience a bullish phase following the golden cross pattern, with potential price targets and support levels highlighted based on current market indicators.
FLOKI Price Analysis: Bearish Signals Amidst Potential Reversal
At the time of reporting, FLOKI was trading at $0.0023. The Moving Average Convergence Divergence (MACD) indicator showed a negative trend, suggesting bearish momentum surrounding the token.
Moreover, the 12-period Exponential Moving Average (EMA) (blue line) had crossed below the 26-period EMA (orange line), indicating profit-taking by traders following a recent price increase.
Given these indicators, there is a possibility that FLOKI’s price could decline to $0.00019 in the short term. However, if bullish momentum prevails and validates support levels, FLOKI might aim to retest resistance around $0.00024.
FLOKI/USD 4-Hour Chart (Source: TradingView)
This analysis reflects current market conditions and potential price movements for FLOKI, based on technical indicators like the MACD and EMA crossovers.
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.
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