Cryptocurrency prices and the Fear and Greed Index fell after Donald Trump snubbed the industry on his first day as US President. Bitcoin, which reached a record high of $109,200 on Monday and then fell below $102,000. This article explores some of the biggest coins in the cryptocurrency world: Shiba Inu, Dogecoin, Dogelon Mars, and Pepe Coin.
Shiba Inu price analysis
Shiba Inu, Dogecoin, and Pepe have all declined recently as cryptocurrency investors shift their focus to newer coins like Fartcoin, Melania and Trump official.
SHIB token peaked at $0.0000338 in December and has now fallen to $0.000020. This decline is in line with the decline of other currencies and the continued poor performance of the Shibarium Layer 2 network.
The price of the Shiba Inu has now fallen below the 50-day and 200-day weighted moving averages (EMA) and the two lines risk a death cross. This is a high-risk chart pattern that often leads to further declines.
There are signs that SHIB price has formed a head and shoulders chart pattern, which is another common risky sign in the market. The Shiba Inu is trying to break above the key support level at $0.00001960, where it has failed to fall several times this year.
The coin also moved below the bottom of the Murrey Math Lines trading range. Therefore, a drop below the key support level at $0.00001958 will indicate further downside, perhaps to the next level at $0.000012, which is the final support point.
On the positive side, the coin formed a small triple-bottom chart pattern at $0.000019, which could lead to a breakout if the bulls defend this support.
Dogecoin price forecast
The price of DOGE fell this week after a lawsuit was filed against Elon Musk’s Government Efficiency Administration in the United States. The plaintiffs say the appointment and establishment of the advisory board did not follow the law.
The coin continues to form a slowly bullish pennant chart pattern on the weekly chart. This pattern consists of a long vertical line in November of last year, which was a flagpole.
The banner section of the model is formed by its continuous uniformity. During most periods, this pattern is one of the most common bullish chart patterns in the market. An upward breakout usually occurs when the two lines of the triangle approach their intersection levels.
Therefore, DOGE price is likely to witness a strong upward breakout. The next point to watch is the all-time high at $0.7600, which is about 122% higher than the current level.
Pepe coin price prediction
The daily chart shows that Pepe Coin’s price peaked at $0.00002837, giving it a market cap of over $10 billion. It has now fallen sharply and settled at a low of $0.0000135, which coincides with the 200-day moving average.
Pepe Coin has formed a falling wedge chart pattern, which consists of two descending and converging trend lines. The two lines are now close to meeting, which means that a strong upward breakout could occur soon. If this happens, the next point to watch will be at the all-time high of $0.00002837, which is about 90% higher than the current level.
Dougillon March
The price of Dogelon Mars went parabolic, reaching a high of $0.000000685 on January 19 with most of the celebrity-themed tokens rising. It then fell to a low of $0.0000002490 as the momentum ended.
The token has collapsed below the key support level at $0.00000030, its highest point in November and December last year. The price remains above the 50-day moving average and the uptrend line connecting the lowest volatility since September. Therefore, the currency is likely to remain under pressure as traders await the next actions by the Donald Trump administration.
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