đ±đ„Meme Coins are about to light the fire! Will DOGE Price and SHIB Price Increase by 50% in May?
Dogecoin (#DOGE ):
The price of Dogecoin, the leader of the Memecoin category, remains close to the critical support level of $ 0.128, despite the increasing bullish trend in the crypto industry. Moreover, the Cross EMA 50/200-day is registering a bearish trend in the crypto Sunday, which highlights the bearish trend for this token.
The technical indicator MACD displays a constant red histogram in the 1D time frame, highlighting the strong downward trend in the crypto industry. Moreover, the averages show a negative trend, which indicates that memecoin leader Dogecoin may continue to depreciate this week.
If the bulls keep the price above the critical support level of $0.128, the DOGE price will be prepared to test its highest level of $0.182 this month. Conversely, if the bears dominate the crypto market, they will decline in the coming period and prepare to test the low support level of $ 0.10.
Following in the footsteps of the category leader, which is the second largest memecoin by market capitalization, the Shiba Inu price continues to show a similar trend, registering an increase of about 4% over the past 24 hours. In addition, the value of the SHIB token since the Beginning of the Year (YTD) is 121.38%.
However, the SHIB coin price has experienced losses of 11% over the past seven days and 15.32% over the past 30 days, which underscores a growing downward trend for memecoin in the crypto space. On the other hand, the 50-day EMA acts as a resistance on the price chart, which indicates a negative impact on the crypto space.
If the market pushes the price above the resistance level of $ 0.00002375, the bulls will gain momentum and prepare to test the upper resistance level of $ 0.0000308. Conversely, the downward price movement may pull the price towards the support level of $ 0.0000170 in the coming weeks.
