Shiba

Dogecoin

Bonk

Shiba Inu

Divergence

The post <a href="https://coinpedia.org/price-analysis/memecoins-mania-hype-fading-away-will-the-category-end-this-year-on-a-bearish-note/" rel="noopener noreferrer nofollow">Memecoins Mania Hype Fading Away! Will The Category End This Year On A Bearish Note?</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a>
The crypto industry has experienced significant price fluctuations during the past week, indicating a massive ongoing price action in the crypto industry. Further, the memecoins hype seems to have reduced as the top tokens of this category have been constantly trading under a bearish influence for a while.
<h2 class="wp-block-heading" id="h-dogecoin-price-analysis">Dogecoin Price Analysis:</h2>
The Dogecoin price traded in a closed range between $0.07686 and $0.08234 for a brief period, following which the bulls lost momentum and the price plunged. The bulls held the price strong, resulting in a bounce back in the range.
Further, the <a href="https://coinpedia.org/price-prediction/dogecoin-price-analysis/" rel="noopener noreferrer nofollow">DOGE price</a> jumped over 30% before facing rejection at $0.10719. Since then, the price has been constantly trading under a bearish influence and is on the verge of testing its crucial support level at $0.08997, of which the outcome is unpredictable.
<figure class="wp-block-image"><img decoding="async" src="https://lh7-us.googleusercontent.com/dBQMXK3Xgzs6XrGt0wqHLtCi6gDw7oWgHGS9kVwGs9YnH_h-INiTIlFw_zv5pN-eYhCRkWQjxIAG4eb48T01pc11Lrgk7zZzy7p4t4NK79hv3xf1ni4Td7CTCR-rsRYIqvnWk8yc7BkfZnU-fqDupCE" alt="Dogecoin Price Analysis">
 <figcaption class="wp-element-caption">
 TradingView: DOGE/USDT
 </figcaption>
</figure>
The technical indicator, MACD, displays a constant flatline for a while, indicating weak buying and selling pressure in the market. Further, the averages show a neutral trend, suggesting uncertainty in the future price action for this token.
If the bulls hold the price above the support level of $0.08997, the price will regain momentum and prepare to test its resistance level at $0.09848. Further, if the market continues to gain momentum, it will rise and test its upper resistance level of $0.10719 in the coming days.
Conversely, if the bears overpowered the bulls, the DOGE price will lose momentum and prepare to test its lower support level at $0.08234 this month.
<h2 class="wp-block-heading" id="h-shiba-inu-price-analysis">Shiba Inu Price Analysis:</h2>
The SHIB price followed in the footsteps of the category leader and traded sideways in a closed range between $0.00000800 and $0.00000860 for a brief period, following which the market gained momentum and the price recorded a jump.
The <a href="https://coinpedia.org/price-prediction/shiba-inu-price-prediction/" rel="noopener noreferrer nofollow">Shiba Inu price</a> broke out of multiple resistance levels and jumped approximately 25% in value before facing rejection at $0.00001074. Since then, the memecoin has traded sideways between $0.00000926 and $0.00001074.
<figure class="wp-block-image"><img decoding="async" src="https://lh7-us.googleusercontent.com/ovyu-FVtjv7Mn4T_xPXOnmuvzvFvxchWb3Q9aH-MROXKqWwPmjrOP2Xm1zAFbzgMIk4DNJPFITjKHKfj00iilErr6loUUZidapDZsxiiPQYrpwwVLS-7UHj4LD-i9TjEpsBGIHVSBU0DJQIKFAylSvg" alt="Shiba Inu Price Analysis">
 <figcaption class="wp-element-caption">
 TradingView: SHIB/USDT
 </figcaption>
</figure>
The Moving Average Convergence Divergence (MACD) displays a constant red histogram, indicating a higher selling-over-buying pressure in the market. Moreover, the averages show a decline, suggesting the price will continue losing momentum in the coming time.
If the bulls hold the price above the support level of $0.00001010, the SHIB price will regain momentum and prepare to test its resistance level of $0.00001074 in the coming days.
On the flip side, if the bears overpowered the bulls, the price would lose momentum and fall to test its support level of $0.000009226. Moreover, if the bears continue to dominate the market, it will plunge further and test its lower support level of $0.00000860 this month.
<h2 class="wp-block-heading" id="h-bonk-price-analysis">Bonk Price Analysis:</h2>
The BONK price traded in a narrow space between $0.000003458 and $0.000004945 for a brief period, after which the market gained momentum, and the bulls recorded a massive surge in its value.
The <a href="https://coinpedia.org/price-prediction/bonk-price-prediction/" rel="noopener noreferrer nofollow">Bonk price</a> jumped over 200% before facing rejection at $0.000015010. After trading sideways for a while, the price regained momentum and recorded another jump of 111%, after which it faced restriction at $0.000031786. Since then, the price has been trading under a bearish influence.
<figure class="wp-block-image"><img decoding="async" src="https://lh7-us.googleusercontent.com/dKTUWDOGBcXlekX-8k0JAHyEUEKPuGuzz2Uc8D4e1yxdKfDN4yy-UR4149p-mdhG5i9oyHSyeDrcwDoMD9uNOlxA00xN6bdLoHX5Uji4gRvUmwtCDbdXpUu84xQ1uuswMj_E8EXn0gx_-LQr94qCuiI" alt="BONK Price Analysis">
 <figcaption class="wp-element-caption">
 TradingView: BONK/USDT
 </figcaption>
</figure>
The MACD shows a constant red histogram in the chart, highlighting a strong bearish influence in the market. Further, the averages display a drop, suggesting the price will continue experiencing a correction in the coming days.
If the bulls hold the price above the important support level of $0.000017476, the price will regain momentum and prepare to test its resistance level of $0.00002179. Further, if the market holds the price at that level, it will rise and test its upper resistance level of $0.00002663.
Conversely, if the bears pull the price below the support level of $0.000017476, the price will lose momentum and fall to test its lower support level of $0.000015010.
<h2 class="wp-block-heading" id="h-pepe-price-analysis">PEPE Price Analysis:</h2>
The memecoin traded in a closed range between $0.00000105 and $0.00000114 for over two weeks, after which the <a href="https://coinpedia.org/price-prediction/pepecoin-pepe-price-prediction/" rel="noopener noreferrer nofollow">PEPE price</a> gained momentum and jumped 61% before facing rejection at $0.0000169.
Following this, the price traded sideways in a consolidated range between $0.00000150 and $0.00000169 for about a week. Since then, the price has been trading under a bearish influence and has recorded a correction of over 27% during the past week.
<figure class="wp-block-image"><img decoding="async" src="https://lh7-us.googleusercontent.com/8oaW0-AKkv3gIbSEMefDY1DJxnTbZrpZ05xOqPQjtjGNSmwcgJtbBv-Q_rpQqmWlcud5Gra6EFRw304bvKxeNSKNfXPS-WzqZOy_2TeMjCndpLjtlM10HdNzVYAtMsuid3woqNUDrYN4_xowK7xo748" alt="PEPE Price Analysis">
 <figcaption class="wp-element-caption">
 TradingView: PEPE/USDT
 </figcaption>
</figure>
The technical indicator MACD continues to display a flatline in the chart, suggesting a decline in the buying and selling pressure for the coin in the market. Moreover, the averages show a neutral trend, highlighting an uncertainty in the future price action for this memecoin.
If the bulls push the price above the resistance level of $0.00000130, the price will regain momentum and prepare to test its resistance level of $0.00000141. Maintaining the price at that level will set the stage for Pepe coin to test its upper resistance level of $0.00000150.
Negatively, if a trend reversal occurs, the price will lose momentum and prepare to test its lower support level of $0.00000114 this week. Moreover, if the bears continue to dominate the market, it will plunge further and prepare to test its crucial support level of $0.00000105.

Memecoins Mania Hype Fading Away! Will The Category End This Year On A Bearish Note?

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