Price Analysis View Non-AMP

Memecoins On A Run! DOGE Price And SHIB Price To Jump 50% In May?

Published by
Elena R

The memecoins category continues to display volatile price sentiments following the cross-border market correction during the week’s start. Category leaders, Dogecoin and Shiba Inu tokens hover close to their support/resistance levels, indicating uncertainty in future price action.

Dogecoin (DOGE):

The leader of the memecoins category, Dogecoin price, continues to hover close to its crucial support level of $0.128 despite an increase in the bullish sentiment within the crypto industry. Moreover, the Cross EMA 50/200-day records a bearish curve, highlighting a bearish sentiment for this token in the crypto market.

The technical indicator, MACD, displays a constant red histogram in the 1D time frame, highlighting a strong bearish sentiment in the crypto industry. Moreover, the averages show a negative trend, indicating the memecoin leader, Dogecoin, may continue losing value this week.

If the bulls hold its price above the crucial support level of $0.128, the DOGE price will prepare to test its upper high of $0.182 this month. Conversely, if the bears dominate the crypto market, it will plunge and prepare to test its lower support level of $0.10 in the coming time.

Shiba Inu (SHIB):

Following in the footsteps of the category leader, the second largest memecoin by market cap, Shiba Inu price continues to display a similar trend by recording a jump of approximately 4% within the past 24 hours. Furthermore, the SHIB token has a Year-to-Date (YTD) of 121.38% in value.

However, the SHIB coin price has lost 11% within the past seven days and 15.32% over the past 30 days, highlighting a rising bearish sentiment for the memecoin in the crypto space. On the other hand, its EMA 50-day acts as a resistance to the price chart, indicating a negative influence in the crypto space.

The Moving Average Convergence Divergence (MACD) shows a constant flatline in its chart, indicating weak buying and selling pressure for the memecoin in the market. However, the averages display a neutral trend, suggesting uncertainty in future price action.

If the market pushes the price above the resistance level of $0.00002375, the bulls will regain momentum and prepare to test its upper resistance level of $0.0000308. Conversely, bearish price action may pull the price toward its support level of $0.0000170 during the upcoming weeks.

Also Check Out : ChatGPT Predicts A 2x Surge in SHIB Price With This Breakout

Elena R

Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing - accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.

Recent Posts

7 Best Meme Coins to Buy Now — APC Coin’s Deflationary Setup Catches Eyes with Neiro, Pepe Unchained, and More

What if the next big crypto boom isn't driven by Bitcoin or Ethereum, but by…

June 7, 2025

Top 7 Indicators That Ozak AI Is the Next Big Thing in AI Tokens

Convergence of artificial intelligence (AI) and blockchain technology continues to reshape the crypto space, one…

June 7, 2025

A New Era Begins with FUNToken AI Agent

FUNToken launches a smart rewards bot — the first step toward building an AI agent…

June 7, 2025

The 6 Best Crypto Exchanges: Top Picks for Seasoned Pros in 2025

The crypto market of 2025 is now a full-blown financial arena where professionals, institutional traders,…

June 7, 2025

Analysts Say This New Crypto Is The Best Risk-To-Reward Play Over Dogecoin (DOGE)

Analysts are spotlighting Mutuum Finance (MUTM) as the best crypto to buy now, outshining Dogecoin…

June 7, 2025

Investors Are Moving Beyond Dogecoin (DOGE): Ruvi AI (RUVI) Emerges as the Smarter 2025 Altcoin Bet

Investors seeking more than speculative momentum are increasingly shifting their attention from Dogecoin (DOGE) toward…

June 7, 2025