- SHIB’s price might increase to $0.000026 while indicators suggest a possible DOGE rise to $0.18.
- BONK’s structure flashed a golden cross, indicating a possible rise to $0.00035.
- FLOKI’s bullish thesis was invalidated, suggesting a decline to $0.00019.
According to CoinMarketCap, meme coins are experiencing a rebound after a brief downward period. Some of the cryptocurrencies involved in this recovery include Shiba Inu (SHIB) and Dogecoin (DOGE).
At press time, SHIB’s price had increased by 3.76% in the last 24 hours. DOGE, on the other hand, was up 4.95%. However, others like Bonk (BONK) and Floki Inu (FLOKI) were not left out as their respective prices also surged. But will the values continue to rise? Let’s find out.
SHIB Price Analysis
At press time, SHIB changed hands at $0.00002493. According to the 4-hour SHIB/USD chart, the On Balance Volume (OBV) has increased. An increase in the indicator suggests that buying pressure is at a high point.
Assuming the OBV were to fall, it would have suggested a rise in selling pressure. With the Relative Strength Index (RSI) crossing above the neutral area, SHIB could be set for a further hike. Should this occur, the price could hit $0.00002680 in a short period.
SHIB/USD 4-Hour Chart (Source: TradingView)
DOGE Price Analysis
Dogecoin exhibited a similar movement to SHIB. At press time, the price of the coin was $0.16. Indications from the parabolic SAR showed that the price is poised to move higher.
From the indicator, DOGE could rise to $0.18 before the market becomes choppy in the short term. Furthermore, the Awesome Oscillator (AO) was positive, indicating the momentum could continue its upward trajectory, while the value might jump. However, if the price rises to $0.18, the token rally might get rejected.
DOGE/USD 4-Hour Chart (Source: TradingView)
BONK Price Analysis
BONK’s Exponential Moving Average (EMA) showed a bullish crossover as the 9 EMA (blue) was above the 20 EMA (yellow). This is termed a golden cross and could foreshadow a higher price for the meme coin.
From the look of things, BONK’s price might rise to $0.000035. Also, there was a support at $0.00030 which could ensure that the value rises before another correction happens.
BONK/USD 4-Hour Chart (Source: TradingView)
FLOKI Price Analysis
At press time, FLOKI’s price was $0.0023. Furthermore, the Moving Average Convergence Divergence (MACD) was negative. A position like this implies that the momentum around the token was bullish.
Furthermore, the 12 EMA (blue) had slipped below the 26 EMA (orange), indicating that traders were taking profits off the recent hike.
FLOKI/USD 4-Hour Chart (Source: TradingView)
In this instance, the price of the token could drop to $0.00019. However, a bullish validation could send FLOKI toward the $0.00024 resistance.
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