- SHIB holds strong support despite the dip, hinting at a potential comeback.
- PEPE faces resistance, but increased volume suggests buyer interest.
- DOGE surges with rising market cap and trade volume, with bullish momentum intact.
Shiba Inu’s (SHIB) bullish momentum in the previous 24 hours retraced when the resistance at the intra-day high of $0.000007247 proved too challenging to overcome. Consequently, negative momentum seized market control, plunging the price to an intra-day low of $0.000007143 before restoring support.
SHIB was trading at $0.000007187 at press time, down 0.35% from the intraday high. Despite this setback, SHIB remains resilient, hovering around the support level, suggesting the possibility of a quick comeback.
While the SHIB market cap fell by 0.35% to $4.24 billion, the 24-hour trading volume grew by 0.28% to $63.03 million, indicating more activity and interest in the token. This rise implies that there is still substantial demand for SHIB despite the recent price drop, which might contribute to a quick rebound.
Pepe (PEPE) Analysis
Pepe (PEPE) has also had a negative trend, with positive momentum fading after hitting resistance at the intraday high of $0.0000007316. Consequently, bears drove the PEPE price to a 7-day low of $0.0000006979. If negative momentum weakens and the price goes below the $0.0000006979 support level, the next support level to monitor is around $0.0000006800.
However, if the bulls recover control and push the price above the resistance level of $0.0000007316, a rally toward the next resistance level of $0.0000007500 is possible.
Furthermore, PEPE’s market capitalization fell by 0.75% to $278.71 million, signaling probable market selling pressure. On the other hand, the 19.01% increase in 24-hour trading volume to $45.67 million implies that buyers are willing to enter the market at these lower price levels, potentially supporting the cryptocurrency.
Dogecoin (DOGE) Analysis
Bulls have had the upper hand in the previous 24 hours, with bearish efforts to lower the price below $0.06084 support. Bulls quickly rebounded, driving the DOGE price to a 24-hour high of $0.06134 before settling around the $0.061 level.
This rising momentum shows substantial purchasing pressure in the market, suggesting a possible continuation of the positive trend soon. In addition, a break over the $0.06134 resistance level may result in more gains for Dogecoin, driving the price toward the next resistance level at $0.062.
DOGE’s market capitalization and 24-hour trading volume climbed by 0.27% and 2.89%, respectively, during the bull run, to $864 billion and $112.78 million. This increase in market capitalization and transaction volume validates bullish emotions around DOGE, demonstrating increased investor interest and confidence.
In conclusion, despite recent setbacks, SHIB, PEPE, and DOGE show signs of resilience and potential for a rebound, fueled by growing market activity and investor interest.
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