Recent shifts in the cryptocurrency market have put pressure on two notable memecoins, Pepe (PEPE) and Shiba Inu (SHIB), leading to substantial price falls over the past weeks. Pepe has seen a staggering 70% decline from its December 2024 peak, while Shiba Inu has lost 21% in just a week. Some experts, however, suggest that Shiba Inu may have long-term growth prospects despite its short-term losses.
What Challenges Are Affecting Pepe Coin?
Pepe Coin has dropped from $0.00002837 in December to $0.00007950. The emergence of a “head and shoulders” pattern and the potential for a “death cross” signal indicate a bearish trend, with forecasts suggesting a possible decline to $0.000050. This decline is compounded by technical indicators indicating weakened support, particularly below Fibonacci retracement levels.
Can Shiba Inu Maintain Its Support Levels?
Shiba Inu is struggling to hold onto crucial support between $0.000015 and $0.000016, critical Fibonacci retracement levels. Analysts caution that a breakdown could intensify selling pressure, but the long-term outlook remains optimistic according to the Elliott Wave Theory. Recent data reveals that larger investors are pulling back, while smaller investors are increasingly active.
- Pepe Coin is at risk of falling further due to technical indicators and reduced support.
- Shiba Inu faces challenges in maintaining essential support levels, putting its price recovery in jeopardy.
- Market dynamics are shifting, influencing investor behavior and participation.
The trends in both Pepe and Shiba Inu coins reflect broader market sentiments, revealing challenges that may affect their recovery. The fluctuations in investor engagement underscore the need to monitor these memecoins closely as the market continues to evolve.
