Home Fear & Greed Pools Wallets Dictionary Advertise Facebook Twitter Telegram Reddit Youtube
Market Cap:
24h Vol:
Cryptocurrencies: 11975
Markets: 92589
CoinInsight360.com logo CoinInsight360.com logo
ENG
EST
RUS
TUR
DEU
CHI
KOR
ITA
USD
USD
AED
AFN
ALL
AMD
ANG
AOA
ARS
AUD
AWG
AZN
BAM
BBD
BDT
BGN
BHD
BIF
BMD
BND
BOB
BRL
BTN
BWP
BYN
BZD
CAD
CDF
CHF
CLF
CLP
CNH
CNY
COP
CRC
CUC
CUP
CVE
CZK
DJF
DKK
DOP
DZD
EGP
ERN
ETB
EUR
FJD
FKP
GBP
GEL
GHS
GIP
GMD
GNF
GTQ
GYD
HKD
HNL
HRK
HTG
HUF
IDR
ILS
IMP
INR
ISK
JMD
JOD
JPY
KES
KGS
KHR
KMF
KPW
KRW
KWD
KYD
KZT
LAK
LBP
LKR
LRD
LSL
LYD
MAD
MDL
MGA
MKD
MMK
MNT
MOP
MRU
MUR
MVR
MWK
MXN
MYR
MZN
NAD
NGN
NIO
NOK
NPR
NZD
OMR
PAB
PEN
PGK
PHP
PKR
PLN
PYG
QAR
RON
RSD
RUB
RWF
SAR
SBD
SCR
SDG
SEK
SGD
SHP
SLL
SRD
SSP
STD
STN
SVC
SYP
SZL
THB
TJS
TMT
TND
TOP
TRY
TTD
TWD
TZS
UAH
UGX
UYU
UZS
VES
VND
VUV
WST
ZAR
ZMW
ZWL
A company that is changing the way the world mines bitcoin

WallStreet Forex Robot 3.0
Market Cap
24h Vol
11975
Cryptocurrencies
54.28%
Bitcoin Share
Crypto Daily 2024-12-24 12:26:14

Major Memecoins Drop 40-60% During Downturn: What next for Dogecoin ($DOGE), Pepe ($PEPE), and Bonk ($BONK)?

Major Memecoins Drop 40-60% During Downturn: What next for Dogecoin ($DOGE), Pepe ($PEPE), and Bonk ($BONK)?

The better-performing altcoins have lost between 20-30% during this downturn so far. However, in the memecoin niche things are a lot worse, with losses amounting to 40-60%. $DOGE, $PEPE, and $BONK are analysed as to their potential recoveries. For the altcoin investor things have been pretty bleak over the last couple of weeks. With Bitcoin ($BTC) struggling to turn its current reversal around , the altcoins have fared worse as usual. However, for those sitting in memecoin positions, the stress of seeing a reduction of at least 40% over the last two weeks must be difficult to bear. Clear support and a bounce for $DOGE Source: TradingView The weekly chart for $DOGE (DOGE/USDT) shows a very clear picture. It can be seen that the spectacular rise from $0.08 in early August reached the 0.618 Fibonacci at $0.47 in November. Such a massive price rise really did need a correction, so over the last couple of weeks a dip of 43% did much to help the market absorb the preceding rise. The fact that this dip went down to touch an ascending trendline which began in late 2022 is very bullish. The $DOGE price is currently sitting on strong horizontal support that coincides with the 0.382 Fibonacci. Upside target levels are in the chart above. $PEPE buoyed up by strong horizontal support Source: TradingView $PEPE (PEPE/USDT) has seen a lot of volatility over recent weeks. A textbook bull flag broke out and the price looked to be heading skyward. However, a consequent dump took the price all the way back to touch and confirm the bottom of the flag. This amounted to a 49% reversal from the top. Currently, the price is starting to climb from the strong horizontal support at $0.000017. If the $PEPE price can climb back out of the flag, bulls would then have to keep their eye on a potential future head and shoulders reversal pattern. If this can be avoided, the all-time high at $0.000028 would be the big target. $BONK bulls need to break the descending trendline Source: TradingView $BONK (BONK/USDT) has suffered worse than most among the major memecoins. A 60% reversal from the all-time high at $0.000062 occurred and it is now up to those bulls to buy the price up so that it can break out of the descending trendline. This is quite likely to happen, given that the correction has already been quite steep. If so, the targets are in the chart above. On the other hand, if the breakdown continues, the ascending bull market trendline would potentially be the last line of support. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Most Read News



Cryptohopper
hardware wallets, hardware , wallets, Crypto Currency, Cryptocurrency hardware wallets, Crypto Apparal, crypto wallet, Cryptocurrency wallets

Market Cap
24h Vol
54.28%
Bitcoin Share
0
Today News
Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.