May 20, 2022

DOGE, SHIB, FLOKI Price Prediction: Crypto Crash Or A time To Buy?

2 min read

Bitcoin Mayhem: Will The Turmoil In Kazakhstan Precipitate A Repeat Of The May 2021

The crypto market began the year treading on a tight wire and circumstance keeps getting worse every day, with the whole crypto market cap dropping below the$ 2 trillion mark late on Thursday according to information from CoinMarketCap. Meme coins have not been left as they dropped both in price and market value.

Shiba Inu is close to reaching the target of the coming down channel at $0.00002813 as evaluated on Thursday and was in the process of defending the $0.000030 support level. At the exact same time defied purchasing pressure from the $0.16 level and battles to secure assistance from the $0.1498 level. FLOKI and other small-capped altcoins were also seeking strong support levels to alleviate losses.

Dogecoin gazes into an Abyss As $0.1241 Beckons

The pioneer meme coin trades in the red at $0.1554 at the time of writing and has formed a descending triangle on the daily chart. As Extreme Fear (15/100) grips the crypto market as shown by Alternative’s Crypto Market Fear And Greed Index with the majority of financiers stressed that the market would topple further. Hence, Dogecoin is most likely to lose balance and start another move towards the target of the dominating chart pattern at $0.1241, representing a 19.27% drop from the present cost.

DOGE/USD Daily Chart

Live Chart

Dogecoin Price Chart

Shiba Inu On Last Line Of Defence: Time To Buy? Shiba Inu tanked below the $0.000030 psychological level for the very first time considering that December 20, 2021. This has actually triggered the price of the self-claimed “Doge-killer” drop to lows of around $0.00002812, coinciding with the December 20 low. This is the last line of defence for SHIB which if lost, would activate massive sell orders that are most likely to plunge SHIB even more.

On the upside, the 12-hour chart paints a light double-bottom chart with a potential for guiding Shina Inu’s healing back to $0.000040.

SHIB/USD 12-Hour Chart

Live Chart

Shiba Inu Price Chart

Floki Inu Paints Oversold Conditions FLOKI continued the downtrend after a failed attempt to $0.00010 earlier in the week. Assistance at$0.0009063 did little to stop overhead pressure this time around with the token encompassing discover support at $0.0007176. Failure to hold this assistance could see FLOKI drop to tag the $0.0006043 assistance wall.

Nevertheless, the Relative Strength Index (RSI) has displayed oversold conditions for Floki Inu rate as seen on the everyday chart. This recommends that the sag is perhaps pertaining to an end and recovery is on the cards.

FLOKI/USDT Daily Chart

Floki Inu Price Chart

Gains above$ 0.0009063 are needed to kick-start the uptrend and a rise above the downtrend line at $0.00010 will see Floki Inu display a clear bullish breakout upwards.

The post DOGE, SHIB, FLOKI Price Prediction: Crypto Crash Or A time To Buy? appeared initially on CoinGape.