Most meme coins have seen significant declines over the past seven days, with the exception of Pepe (PEPE) and Shiba Inu (SHIB).
SHIB, currently ranked 11th on the market cap list, has seen a 7.24% gain. PEPE’s price has increased by 36.19%.
On the other side of the divide are dogwifhat (WIF) and Dogecoin (DOGE). WIF’s price has dropped by 6.38%, while DOGE has seen an almost identical drop of 6.99% over the last week. Below is an analysis of the factors that have impacted the performance, as well as an assessment of price action over the coming days.
Dogecoin (DOGE)
At press time, DOGE is changing hands at $0.14. As can be seen on the 4-hour chart, bulls attempted to push the coin above $0.16 on April 23, but a quick rejection at the time forced the price back down.
As a result, DOGE lost the $0.15 support level. Moreover, the relative strength index (RSI) dropped to 33.37, indicating strong bearish momentum…
