The cryptocurrency market is currently experiencing a bearish trend, with top tokens losing significant value in their portfolios. This has led to rising uncertainty among investors as they closely monitor their holdings. In this article, we will delve into the market sentiment, price analysis, and short-term price targets for two popular memecoins, Dogecoin (DOGE) and Shiba Inu (SHIB).
DOGE Price Retests Its Important Support Trendline
Dogecoin is currently hovering near its crucial support level of $0.3250, with a 3.76% intraday drop and a trading volume of $1.835 billion. The coin holds the 7th position in terms of market cap, which stands at $48.281 billion.
The Moving Average Convergence Divergence (MACD) indicator shows a rising red histogram, signaling a bearish convergence. Additionally, the EMA 50-day indicator is acting as a resistance to the DOGE price chart, indicating a negative outlook.
To maintain its price above the support level of $0.3250, Dogecoin may retest its high of $0.440. However, if bears take control, the price could drop to $0.2650.
Shiba Inu Price Records Increased Bearish Sentiment
Shiba Inu has witnessed a 4.43% drop in the last 24 hours, with a trading volume of $401.42 million. Over the past seven days, the price has plummeted by 12.92%, and in the last 30 days, it has decreased by 26.74%, indicating an increase in bearish sentiment.
The Relative Strength Index (RSI) shows a bearish curve in the daily time frame, with the average displaying a negative reversal. The SMA indicator continues to act as a resistance, suggesting that the SHIB price may continue to decline in the coming days.
If bulls regain momentum, Shiba Inu could break through its resistance at $0.00002350 and aim for the high of $0.00003080. Conversely, increased bearish pressure could push the price down to $0.0000170.
FAQs
- How much will 1 Dogecoin cost in 2025?
If the bullish sentiment continues, Dogecoin could surpass the $1 mark this year. - How much is $500 worth of Dogecoin right now?
At the current price of $0.34227 per DOGE token, $500 would buy approximately 1,460.8350 Dogecoins. - What will Shiba Inu be worth in 2025?
Shiba Inu could reach a maximum price of $0.0006392 by the end of 2025. - How much is $1000 of Shiba Inu worth now?
With a trading volume of $401.42 million, the current value of one SHIB token is $0.00002090. Therefore, $1000 would buy approximately 47,846,889.9521 Shiba Inu tokens.As the cryptocurrency market remains volatile, investors are advised to conduct thorough research and consider their risk tolerance before making investment decisions in memecoins like Dogecoin and Shiba Inu.