Latest news about meme coins: Dogecoin, Shiba and others

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Along with the entire market, we see serious pullbacks and pressure from meme token sellers. Let’s take a look at the latest status and expected levels of popular joke coins on the market.

DOGE and SHIB

Dogecoin, which holds the title of the largest and first meme token on the market, has fallen by 27% in the last 24 hours, by 42% in the last week and by 45% in the last month. At the time of writing, DOGE is trading at $0.076.

It is very important for Dogecoin to lose the $0.1 level. Because this level was very important both psychologically and technically. At the moment, it can be stated that $0.068 is supported in DOGE. According to analysts, DOGE needs to overcome the $0.080 level in order to continue growing. It is claimed that above this level, the resistance may be $0.088. A downward breakout at $0.068 may put a test at $0.062 on the agenda.

In addition, Shiba Inu, the second largest meme token by market capitalization, has fallen by 31% in the last 24 hours, by 50% in the last week and by 54% in the last month. Shiba is trading at $0.000010 at the time of writing, and the price of the cryptocurrency seems to have dropped to the range of $0.0000090.

According to analysts, $0.000010 is now a very important level, and maintaining this level can strengthen the price of SHIB. It is claimed that above 0.000010 US dollars, the resistance can be 0.000015 US dollars, and if the volume breaks, 0.000020 US dollars can be tested. In addition, if there is a break below $0.000009, you can test $0.000008.

The latest situation with meme tokens

Looking at the top five meme tokens by market capitalization, CoinMarketCap data shows that the biggest drop was 45% in Shiba Predator (QOM). In addition, it is worth noting that Dogelon Mars (ELON), the third largest meme coin in terms of market value, also experienced a 40% decline.

The rebirth of meme tokens, like all altcoins, is currently dependent on Bitcoin. It is believed that after bitcoin pulls back strongly from the $28,000 level and even rises to the $42,000 level, altcoins can begin to grow noticeably.