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Reversal

The post <a href="https://coinpedia.org/price-analysis/will-the-crashing-meme-coins-find-a-reversal-this-week/" rel="noopener noreferrer nofollow">Will The Crashing Meme Coins Find A Reversal This Week?</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a>
The meme coins are losing bullish momentum, with the Bitcoin price slowing above the $60,000 demand zone. Amidst the broader market slowdown, the top dog-themed meme coins are registering a bearish start to this week.
As the altcoins are under growing bearish pressure, the crucial support levels are starting to crack. Will the market slowdown in May fuel a crash in the hype and community-driven coins?&nbsp;
Let’s check out the price analysis of the top meme coins for a deeper understanding.&nbsp;
<h2 class="wp-block-heading" id="h-biggest-meme-coin-dogecoin-s-falling-channel">Biggest Meme Coin Dogecoin’s Falling Channel</h2>
The biggest and most popular meme coin, Dogecoin, shows a pullback phase in motion. It grows intense as the market slowdown leads to quick profit booking and bullish exhaustion. The meme coin registered a loss of 12.38% last week and starts on a 2.40% drop today.&nbsp;
With a market cap of almost $19.91B, Dogecoin is the ninth-largest cryptocurrency in the world.&nbsp;
<figure class="wp-block-image"><img decoding="async" src="https://lh7-us.googleusercontent.com/38oPq0qdaIzd_iOXtHlclNZZjdO6tHdeqPQirx00J9rOnD8XLWU7zCSkLnBxbdZinrpQL5W6ZztkyY2KAFGf_pfhQf1Aa7BvCdHUSzj_1jIGnpmc0sHs8ODpdyHHkoYAynOgpk3Tk6IgooZj4ZnSziM" alt="">
</figure>
<a href="https://www.tradingview.com/x/CVuzsikX/" rel="noopener noreferrer nofollow">Tradingview</a>
The daily chart shows the pullback forming a falling channel as the DOGE price reverts from the overhead trendline and the 50D EMA. With this reversal, the pressure over the $0.1255 support zone is gradually increasing.&nbsp;
If the bear cycle gains momentum, the DOGE price could break under the $0.1255 support zone. With unleashed momentum, Dogecoin could drop to the $0.10 psychological mark near the support trendline.&nbsp;
On the flip side, the $0.1226 demand zone is a critical support known for multi-contact reversals in recent times. A bullish reversal could revive the uptrend and reach the $0.1471 mark.&nbsp;
<h2 class="wp-block-heading" id="h-triangle-breakdown-for-shiba-inu">Triangle Breakdown For Shiba Inu</h2>
Ranking second in the meme coin industry after Dogecoin, Shiba Inu has a market cap of $12.85 Billion. Ranking at 11th position in the crypto world, the declining market cap of Dogecoin could soon make Shiba Inu the biggest meme coin.&nbsp;
<figure class="wp-block-image"><img decoding="async" src="https://lh7-us.googleusercontent.com/sQWXE6asRLrQZlaFFI_399cogJ-DOHmoWWrnkiutALWLaywtOE2BHXDkQJ4OYP0eTSog1SiP6tLcSVbUrNKRFZdGwoCQR6YsxUAWQ3TRFS6vRtKlaE-nMUSiJjKvHb-G8z0p5JSLRQDBigP9iP_fV_E" alt="">
</figure>
<a href="https://www.tradingview.com/x/QyBIobl8/" rel="noopener noreferrer nofollow">Tradingview</a>
However, the bearish conditions growing in the SHIB price chart might result in a crash for this meme coin. In the daily chart, the dog-themed coin cracks under a crucial support trendline after a 9.71% drop last week.&nbsp;
With an intraday drop of 2.20%, the SHIB price is on the verge of breaking below the symmetrical triangle. In case of a bearish crossing, the meme coin could drop to a low of $0.000020 psychological mark.&nbsp;
Conversely, a strong closing today could increase the SHIB price to $0.00002450 for a breakout attempt.&nbsp;
<h2 class="wp-block-heading" id="h-retest-struggles-a-reverb-in-wif-nbsp">Retest Struggles A Reverb In WIF&nbsp;</h2>
As the top meme coins are under pressure, the WIF price shows a bullish breakout, struggling to perform. The Dogwifhat price is trending sideways below the $3.35 mark for a few weeks.&nbsp;
<figure class="wp-block-image"><img decoding="async" src="https://lh7-us.googleusercontent.com/SDt4a-is-N0PybMyo7iEjjPuH48UrNU9HeWHK3tYKlEpPcedXjOjWpEGTmOqhqaxIESQeUQIJNBGwqajRnD93K01syb80TQs5i3mlJeliioER2AlmG5jtySmHAbgmavx7R_C6Te6db6SEw2mc_D_08g" alt="">
</figure>
<a href="https://www.tradingview.com/x/DFzVUk2W/" rel="noopener noreferrer nofollow">Tradingview</a>
With a 7.75% drop last week, the meme coin is under pressure and retests the broken resistance trendline. However, with an intraday drop of 5.03%, the post-retest reversal chances are looking slim.&nbsp;
If the downfall continues, the WIF price could drop to the $2.50 mark. On the flip side, a bullish turnaround could result in a jump to $3.35 for another breakout attempt.&nbsp;
<h2 class="wp-block-heading" id="h-floki-retest-lacks-momentum-uprising">FLOKI Retest Lacks Momentum Uprising</h2>
With a market cap of $1.5 billion, Floki ranks 55th on the list of top cryptocurrencies. Under the influence of the top meme coins, the FLOKI price experiences a significant rise in supply.&nbsp;
<figure class="wp-block-image"><img decoding="async" src="https://lh7-us.googleusercontent.com/BEjXqokV4oN5vJMwC3bZSBv7qaEBp-VOBps6PKL2IVW_CPmPgKUCJ_Ti3nJvVWGkr8irvvtD4rziOPWhIzbPwc7kLyeGFrqAkXQG7Sy9DxUoEOUJvafWWuui_qlaQAwltnU16BGSjDT_RF9XezNDUSo" alt="">
</figure>
<a href="https://www.tradingview.com/x/N7QvPJnF/" rel="noopener noreferrer nofollow">Tradingview</a>
Due to the increased supply, the FLOKI price action shows a falling wedge breakout rally struggling for momentum. If the uptrend regains momentum, the meme coin could jump to the $0.00023 level. Conversely, a drop under $0.00015 could test the $0.00012 level.
<h2 class="wp-block-heading" id="h-solana-s-top-meme-coin-bonk-needs-a-push">Solana’s Top Meme Coin BONK Needs A Push</h2>
Coming to the Solana ecosystem, the BONK price shows a wedge breakout rally turning sideways. This bullish failure amidst the market slowdown leads to a consolidation range.&nbsp;
<figure class="wp-block-image"><img decoding="async" src="https://lh7-us.googleusercontent.com/gAUOh3hgmWhw1_9RGwSIgxpj9pL6ScEnPdFW8jl8FmdHSnPrflDrFPtSqnSzQtSKidG2JDrMIMH5N0zJObvnFSN-SpVVsEx24PMm1FFBYJ3HNydrMl-4DeW9r-woc3EZ3LCvzb1ykzwYYn22JgcynIM" alt="">
</figure>
<a href="https://www.tradingview.com/x/XzE48Ek7/" rel="noopener noreferrer nofollow">Tradingview</a>
With boundary lines on $0.000027 and the $0.000020 psychological level, the meme coin is on the verge of a decisive move. Following the 13.65% drop last week, the bearish momentum continues this week with an intraday drop of 1.54%
With a lower price rejection near $0.000020, the 50D EMA and the 50% Fibonacci level, the bullish reversal chances are showing up. In such a case, a price jump to $0.000028 is possible. A downfall could result in a price drop to $0.00001933.&nbsp;

Will The Crashing Meme Coins Find A Reversal This Week?

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