Interest in Dogecoin (DOGE), Shiba Inu (SHIB), and Floki Inu (FLOKI) is experiencing a downturn due to various market factors. The waning influence of Elon Musk on Dogecoin, the emergence of new memecoins, and shifting market conditions have collectively pressured the values of these cryptocurrencies. Nevertheless, some technical signs suggest a recovery might be on the horizon, especially for DOGE and SHIB.
Why Is Interest in Dogecoin Diminishing?
How Is Shiba Inu Performing Amid Market Shifts?
Dogecoin saw a significant rise in prominence following the appointment of Elon Musk and Vivek Ramaswamy to the U.S. Department of State Efficiency, reaching its peak in November 2024. However, rather than sustaining this momentum, interest has declined, with Santiment data showing a drop in searches for DOGE despite initial spikes.
Shiba Inu has recently shown some improvement, with its RSI indicator rising to 34.5 and breaking out of the oversold zone. The BBTrend is signaling potential positive movement, but the EMAs remain negative, indicating that more purchasing momentum is required for a significant upward trajectory.
DOGE is currently priced at $0.21, facing persistent bearish pressure, especially as it stays below the 50-day Moving Average. However, the RSI at 29 suggests sellers are losing strength. A rise above $0.24 could propel DOGE to levels of $0.37 and $0.48.
- Shiba Inu currently trades at $0.000014
- Technical indicators hint at an upward potential if it surpasses $0.0000146
- Floki Inu sees slight declines but has support levels that may indicate upward movement
Floki Inu has experienced a minor decline of 1.11% recently, trading at $0.00008142. Positioned near its 50-day moving average, MACD indicators hint at a potential bullish breakout. Maintaining support levels between $0.00007800 and $0.00008000 could be crucial for signaling future growth.
