A chance for those on the sidelines to get in on the Dogecoin action might arise if its price rises near $0.20.
As Shiba Inu has been bleeding for eight days in a row, SHIB may hit a new low of $0.000018, which it last did in April.
With solid momentum, Bonk is poised to achieve gains of about 9%.
Outperforming Bitcoin, AI currencies, and Binance coins, meme coins have emerged as the obvious winners in the crypto sector's performance over the previous two weeks. As of this writing, the price of one bitcoin on Binance was $61,657, a decrease of over 4% from its previous trading session.
A possible conclusion to the bull run cycle may be signaled by meme season.
Market players usually understand that a Bitcoin local peak is certainly in after the meme season finishes, according to the analyst behind the X handle @21blacky. It is believed that the market will experience negative sentiment as meme season comes to a close. During meme season, meme currencies see price rises.
Meme season, according to the expert, is far from done. Before the current market cycle's bull run comes to an end, the price of bitcoin might go back up to its previous high of $73,777.
Dogecoin gives discouraged merchants a second chance
The price of Dogecoin (DOGE) has been falling since March 28, with lower lows and lower highs being formed on a continuous basis. Potential buyers who have been sidelined might enter the market when the meme coin's strong momentum breaks below the Donchian channel's bottom threshold.
A technical signal known as a Donchian channel may help traders determine if an asset is about to break out and make a long or short bet.
When the price of DOGE broke out of the channel and approached the 20-day low, three fresh entry possibilities were apparent to traders. for the three lowest prices on April 12, 14, and 13, new traders may initiate a DOGE buy position for $0.1584, $0.1435, and $0.1303, respectively.
In a shorter time frame, Connors RSI—a momentum indicator that helps detect overbought and oversold circumstances for an asset—confirms that Dogecoin is likely going towards the top border or the 20-day high, which is denoted by the upper boundary of the Donchian channel.
A current CRSI score of 6.44 indicates that Dogecoin is oversold, which is a positive indicator for the meme coin's value.
Traders may anticipate returns of more than 40% with a goal of $0.2035 if they join the market at $0.1435. With a purchase objective of $0.2035 and an entry price of $0.1303, one might anticipate returns of more than 55%.
If the daily candlestick closes above $0.1435 (the low from April 14), the bullish thesis for DOGE might be rendered worthless. As a result of the Donchian channel's lower threshold, the dog-themed meme currency can go as low as $0.1303 (the low on April 13).
War is declared by Shiba Inu bears
The Shiba Inu (SHIB) meme currency is now trending downwards, with a probable bearish objective of the April 13 low at $0.00001830. The price of the coin is bleeding. When the signal line crossed over the Fisher Transform on April 25, it confirmed the decline. Traders may use the Fisher Transform to spot asset price turning points and significant price movements.
The asset price is expected to fall if the signal line crosses above the Transform. The asset's capital inflow and outflow may be evaluated with the use of the Chaikin Money Flow (CMF) indicator. CMF is useful for verifying if the price trend of an asset is strong. A CMF value greater than zero indicates purchasing pressure, while a drop in CMF and SHIB price during the last week indicates decreasing demand.
Disproving the bearish thesis would be a daily candlestick close above $0.00002476, which is the 23.6% Fibonacci retracement of the slide from $0.00004567 on March 5 to $0.00001830 on April 13.
During its upward trajectory, the SHIB price encounters resistance at the $0.00002820 mark reached on April 21.
Supporting the current rise is solid momentum.
Bonk (BONK), a meme currency headquartered in Solana, is targeting an 11.5 percent increase to $0.000025, which is the 38.2 percent Fibonacci retracement of the slide from $0.000048 on May 4th to $0.000012 on April 13th. The momentum indicator Relative Strength Index (RSI) is at 52.28, which is close to the neutral zone.
Displayed above the neutral line and signal line, respectively, are green histogram bars that constitute the Moving Average Convergence Divergence (MACD) indicator. Usually, this means that the item is going to go up in value. On April 21st, the crossover took place. Nearly 20% of BONK price's worth has increased since the crossing.
The immediate support level is $0.000020, which also happens to be the 23.6% Fibonacci retracement level.
If the daily candlestick closes below $0.000020, the bullish thesis might be rendered invalid. At its April 21 low of $0.000018, BONK may seize liquidity.
