Release: 2024/05/30 20:29 Reading: 697
Investors Display Enthusiasm for DOGE, TON, and SHIB
The recent surge in memecoin popularity has garnered significant investor interest. Several ecosystems have witnessed a surge in users, with various memecoin projects experiencing notable growth. This article analyzes the expected trajectories of DOGE, TON, and SHIB, which have attracted substantial investor attention.
Dogecoin Chart Analysis
Technical indicators suggest that DOGE is experiencing support from bulls, as the price has remained above the 20-day EMA average of $0.16. The RSI is near its midpoint, indicating a balanced market. A breakout above the $0.18 resistance level could lead to a rise towards $0.21.
Conversely, a drop below moving averages may indicate a loss of momentum from bulls, potentially pushing the price down to $0.14. The pair could then remain within a range of $0.12 to $0.17.
TON Chart Analysis
TON has found support at moving averages, but bulls have faced resistance in initiating a recovery. A sustained price above $6.73 will provide buyers with an advantage, potentially triggering an increase towards $7.67.
Should bears gain control, a drop below $6 support could result in a decline towards $5.50 and $4.72.
Shiba Inu Chart Analysis
SHIB broke out of a symmetrical triangle formation on May 27, indicating a bullish sentiment. It has since risen towards the 20-day EMA average of $0.000025, supported by a positive RSI reading. Resistance may be encountered at $0.000030, but a potential rise to $0.000033 is likely.
A retreat from current levels may find support at moving averages. Bears would need to drive the price below the support line to initiate a drop towards the 78.6% retracement level of $0.000017.
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