Can Dogecoin and Shiba Inu Bounce Back?

Can Dogecoin and Shiba Inu Bounce Back?

Interest in Dogecoin (DOGE), Shiba Inu (SHIB), and Floki Inu (FLOKI) has waned recently due to several market factors. These include the decreased influence of Elon Musk on Dogecoin, the emergence of competing memecoins, and broader market shifts. Despite this downturn, some technical indicators suggest a potential recovery for DOGE and SHIB.

Why Is Interest in Dogecoin Diminishing?

How Is Shiba Inu Performing Amid Market Shifts?

Dogecoin's prominence surged following , peaking in November 2024. However, this momentum proved unsustainable, with Santiment data revealing a decline in DOGE searches despite initial increases.

Shiba Inu has shown recent signs of improvement. Its Relative Strength Index (RSI) has risen to 34.5, breaking out of oversold territory. The Bollinger Band Trend (BBTrend) suggests potential upward movement, although negative Exponential Moving Averages (EMAs) indicate a need for stronger buying pressure to sustain a significant rally.

DOGE is currently trading at $0.21, facing persistent bearish pressure, particularly while remaining below its 50-day Moving Average. However, an RSI of 29 suggests weakening seller momentum. A break above $0.24 could potentially propel DOGE towards $0.37 and $0.48.

Shiba Inu is currently trading at $0.000014. Technical indicators hint at upward potential if it surpasses $0.0000146.

Floki Inu has seen a minor decline of 1.11%, trading at $0.00008142. Trading near its 50-day moving average, MACD indicators suggest a possible bullish breakout. Maintaining support between $0.00007800 and $0.00008000 will be crucial for future growth.

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