If Bitcoin freefall ceases, Dogecoin, Shiba Inu, and Bonk may recover

Bonk holders see roughly 28% uptrend gains.

Technical signs suggest meme coins Dogecoin (DOGE), Shiba Inu (SHIB), and Bonk (BONK) will recover despite the crypto market slump caused by Bitcoin (BTC)'s severe decrease.

BTC has dropped 11% since April 30. If Bitcoin stops falling, other crypto assets, like meme coins, which are more speculative than most digital assets, could recover.

Dogecoin may recover

Dogecoin has been falling since March 28's $0.2288 peak. The meme coin's daily chart indicates a $0.13959–$0.13395 fair value gap (FVG). DOGE pricing may reduce this mismatch and fill the gap before correcting.

Sidelined traders could trade the Shiba-Inu meme currency below the FVG and at the May 1 low of $0.1201, February 29 low of $0.1113, and February 28 low of $0.0947.

If DOGE falls, the February 28 and 29 lows of $0.0947 and $0.1113 may support it.

Shiba Inu may fall to $0.000018 before recovering.

Shiba Inu trades at $0.00002210, near the Donchian Channel midway.

At $0.00002210 and $0.00002057, Shiba Inu traders might enter and target the upper border of the channel, or the 20-day high in SHIB price, at $0.00002820.

SHIB price might drop roughly 17% if liquidity sweeps the channel's lower border.

Shiba Inu could reject the bearish thesis if a daily candlestick closes above $0.00002476, the 23.6% Fibonacci retracement of the decrease between March 5 and April 13. The second entry level for SHIB is $0.00002057 for immediate support.

Bonk holders prepare for 28% upswing gains

At press time, BONK costs $0.00002300. BONK's MACD line crossed above the signal line, indicating a bullish trend. The on-balance volume indicator is rising with BONK price, indicating purchasing pressure.

A daily candlestick closing below $0.00002089 could debunk the bullish premise. BONK price may find support at $0.00001882, the 61.8% Fibonacci retracement of its April 13–April 25 rise from $0.00002966.

#Memecoins #DOGE #SHIB #BONK