Bearish momentum grips the crypto market. Meme coins SHIB, BONK, and PEPE face downward pressure. Investors worry about market swings and unclear rules. These coins have dropped a lot lately. Many wonder if they’ll bounce back amid worries about safety and slow adoption.
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Analyzing SHIB, BONK, and PEPE: Can They Overcome Bearish Momentum?
1. Shiba Inu (SHIB) – Struggles With Bearish Momentum
SHIB has been falling since May 2024. It now trades at $0.00001359, down 1.81%. Its RSI of 42.20 shows it’s not oversold, but sellers are in control.
SHIB holders worry it won’t surpass its previous highs in the near future. New rules for meme coins don’t help, and also add to these fears. An understandable reaction I would say.
2. Bonk (BONK) – Downward Spiral
BONK has also dropped. It peaked at $0.000036 in June but now trades around $0.00001696. Its current RSI of 43.13 shows less buying interest.
Traders watch BONK closely. They worry about security risks and how new rules might affect smaller coins.
Also Read: Can Dogecoin (DOGE) Rise To $1 in 2024?
3. Pepe Coin (PEPE) – Faces Resistance
PEPE has fallen since mid-June. Its price dropped from $0.000001800 to $0.000000667. It struggles to break past $0.000001200 and $0.000001800.
With an RSI near that sits around 50, more selling could happen soon. Investors doubt PEPE can grow beyond its early hype.
These meme coins fight bearish momentum. Investors wonder if they’ll recover. The market shows how risky crypto can be. People watch SHIB, BONK, and PEPE for signs of a turnaround.
Other issues make things worse. High fees on some networks cool interest. Environmental worries about mining make some rethink investing. Many find crypto tech hard to grasp, adding to negative feelings.
Also Read: Top 3 Cryptocurrencies To Buy During The Market Dip
Fans of SHIB, BONK, and PEPE hope for better days. But recovery won’t be easy. These coins must overcome price barriers, market doubts, and tough rules. Their future depends on showing real use and beating the current bearish momentum.
