Since Bitcoin broke through the $108,000 high, the crypto market has been caught in a whirlpool of massive sell-offs. However, the top Memecoins—Dogecoin (DOGE) and Shiba Inu (SHIB)—faced selling pressure even before BTC's plunge. Market funds are flowing towards star tokens, while DOGE and SHIB hesitate before resistance levels. What fate awaits the two 'Dogecoin Kings'? Let's take a look.

Dogecoin (DOGE): Can it turn around again?

Dogecoin experienced a rollercoaster-like plunge this week, dropping from a high of $0.32 to $0.26. Although the bulls fought back, pushing the price back above $0.34, bearish sentiment still looms over the market.

From the weekly chart, DOGE's price has not yet emerged from the bearish shadow. The RSI indicator shows that if the support can hold at $0.33 until the weekend, the bulls may drive a strong rebound. However, if it fails, the price may drop below $0.20, potentially triggering a new wave of sell-offs. Meanwhile, the ADX indicator continues to show bearish signals, indicating that the market is still trending downwards.

Key Support and Rebound Conditions:

  • Support Level: $0.33

  • Resistance Level: $0.35

  • Bull-Bear Divide: A closing price above $0.35 will reverse the current bearish trajectory.

In summary, DOGE is at a critical turning point, and the future price trend entirely depends on this weekend's performance.

Shiba Inu (SHIB): Is there a crisis hidden behind the seemingly healthy rebound?

SHIB's recent performance has left investors on edge. After breaking below the ascending wedge, the price plummeted by 30%, and it may continue to test below $0.00002. However, technical indicators are releasing mixed signals—both bullish and bearish.

Key Indicator Interpretation:

  • MACD: Shows that buying volume is rapidly decreasing, forming a bearish crossover.

  • Ichimoku Cloud: Is turning towards a bullish trend, indicating that bearish sentiment may be nearing its end.

  • Baseline and Conversion Line: A bullish crossover is expected to suppress further declines.

Despite this, SHIB's price remains at a critical stage. If the bulls cannot hold above the $0.00002 support, future prices are likely to be pessimistic.

Conclusion: What is the future fate of the two 'Dog Kings'?

DOGE and SHIB are at a crossroads of fate. DOGE's rebound needs to break above $0.35 to see a revival, while SHIB must firmly hold the $0.00002 support to avoid a deeper correction. Whether they can stage a comeback will determine if the Memecoins sector can shine again.

Don't be blinded by short-term fluctuations. Brother Tang teaches you to lock in your goals, advance step by step, and witness wealth explosion with a smile! Follow Brother Tang to transition from confusion to freedom!
#加密市场反弹 #市场调整後的机会？ #SHIB #DOGE #SUI $DOGE $SHIB $SUI