Dogecoin’s RSI nearing the overbought level suggests a potential price correction, but room for short-term growth remains.
Bonk’s RSI remains neutral, hinting at price stabilization despite a recent downtrend and weakening bullish momentum.
Increased speculative activity in Dogecoin and Bonk derivatives shows mixed market signals, with liquidations driving potential corrections.
Santiment, a market intelligence platform, reports a notable increase in discussions surrounding memecoins like Dogecoin (DOGE) and Bonk (BONK). This surge occurred as both tokens experienced price spikes, capturing attention from traders. However, market experts suggest that when focus shifts toward speculative assets, such as memecoins, corrections tend to follow.
There was a major increase in memecoin discussions yesterday as coins like Dogecoin and Bonk were surging. Typically, markets correct when focus shifts away from layer 1's and toward more speculative assets due to greed. Today, unsurprisingly, market-wide dips are occurring. pic.twitter.com/ACzHo7TsTY
— Santiment (@santimentfeed) October 17, 2024
Dogecoin Experiences Price Dip
Dogecoin’s price is $0.127748, with…
The post Dogecoin and Bonk Rally, But Experts Warn of Market Correction appeared first on Coin Edition.
