3 Major Meme Currencies: Technical Analysis and Price Forecasts

It seems that the same corner party didn't last long this time, exactly one month only. The prices of these currencies popular among speculators in digital currency markets have fallen rapidly. After that, as usual, it benefited greatly from the improvement in the general market mood after the launch of Bitcoin ETFs and expectations of the start of a decline in US interest rates.

Since it reached its peak the last week of last March. I lost Prices of major currencies memes More than 40 to 50% of the gains made during the last bullish wave.

Many traders and enthusiasts see this decline as a buying opportunity. Because the market will rise again when Bitcoin decides to do so.

The question now is when and to what extent? Of course, there are still expectations.

Below we will look at the prices of 3 currencies technically The largest in terms of market valueLet's identify the most important technical levels and possible trading signals.

Dogecoin DOGE

The price of the largest and most famous meme coin on the market is trading in a bearish price channel. After breaking and exiting the price channel in which it had been rising over the past few months.

Dogecoin Price DOGE It rebounded from the 61.8% Fibonacci retracement at $0.14, which currently represents the main support level.

Breaking it will lead to a further decline towards $0.11.

For the uptrend to return, the upper boundary of the descending price channel must be breached and the daily close must be above the 38.2 Fibonacci retracement at the price of $0.17.

Shibainu SHIB coin

Just like its competitor, Shibainu SHIB price It is moving in a descending price channel. Furthermore, the bearish wave stopped at the 61.8% Fibonacci retracement level, at $0.00002050. Which also represents the main level of support.

The main difference between these meme coins is the shape of the bullish wave. In the case of the Shiba Inu, it was serious and sudden. Contrary to Dogecoin DOGE Which has gradually increased in a harmonious movement with the general market trend.

This is due to the problems and doubts surrounding the Shibarium project.

The important thing is that breaking the main support level means a further decline towards $0.00001180.

For the uptrend to return, the upper boundary of the descending price channel must be breached and the daily close must be above the 38.2 Fibonacci retracement at the price of $0.00002780.

PEPE part

Moves Prices of PEPE parts A bit like a path Shibainu SHIB coin. A sharp rise, then a decline in the price channel and stopped at the 61.8% Fibonacci retracement priced at $0.000045.

To return to the upside, the upper limit of the descending price channel must be crossed.

Breaking the aforementioned main support level means a return PEPE Price At the starting point, approximately $0.00001.

Observation: Trading and speculating in meme currencies carries a high risk of losing money and the potential for making a profit is low. It's closer to gambling than trading.