Dogecoin, Shiba Inu, and Pepe Coin have faced significant price drops as the broader crypto market struggles. The meme coin market cap stands at $35.8 billion, reflecting a 7.4% decline in the last 24 hours.
Dogecoin price is down by 6%, and Shiba Inu is below $0.000006486. Pepe Coin saw a 3% decrease. At the same time, the overall crypto market has fallen by 1.54%, to a current value of 2.33 trillion. Bitcoin price is trading below 70k, and Ethereum is trading below 2k.
Is Dogecoin Price Set for a Strong Recovery After Pulling Back?
Dogecoin price has recently dropped by 6.17%, now trading at $0.10051. Despite this, the cryptocurrency experienced a 5% surge over the past week, holding above $0.15. The breakout above the falling trendline has been notable, and Dogecoin has been drawing back to test this level as support, and the price is holding strong.
This is a typical one-bullish price action in which the past resistance becomes the current support, which validates the breakout.
Moving forward, if the future Dogecoin outlook remains at this point, it may experience an additional upward trend, particularly with the potential market volatility following the Supreme Court decision on February 20.
Shiba Inu Faces Price Struggles Amid Bitcoin Decline: What’s Next?
SHIB price experienced a slight dip of 1.32%, settling at $0.00000650 in the last 24 hours. This decline follows Bitcoin’s similar drop of 1.47%. The Shiba Inu coin price is still maintained above the 7-day SMA of $0.0000064, which would potentially start off a rally to the $0.00000670 resistance.
Nevertheless, a fall below the 0.0000064 mark may trigger additional falls, potentially to the $0.000006. The next release of PCE inflation on February 20 has prompted keenly awaited triggers by market participants.
Meanwhile, the burn rate in SHIB has skyrocketed 201%, and 3,011,445 tokens were burned in the last 24 hours.
Source: Shibaburn dataPepe Price Slips After Strong Rally: What to Expect Next?
Pepe price dropped by 2.94%, now standing at $0.00000444 in the last 24 hours. This is explained by market pressure and the overall weakness of meme coins, which coincided with a drop in Bitcoin and overall market cap.
PEPE volume has fallen by 46% in response to the weakening investor sentiment, indicating a stagnation in the wake of its 7-day gain of 16%.
The near-term outlook of Bitcoin determines the future of Pepe. As long as it continues above $67,000, PEPE might stabilize at 0.0000044. Anything below $0.0000043 may lead to a further deterioration.
What’s Next For Dogecoin, Shiba Inu, Pepe Coin Price?
With Bitcoin under pressure at less than $68,000, the meme coin market is experiencing price pressure, and Dogecoin, Shiba Inu, and Pepe are on the decline. The meme coin prices are volatile, and their price fluctuation is strongly dependent on the performance of Bitcoin.
Source: https://coingape.com/markets/dogecoin-shiba-inu-pepe-coin-price-predictions-as-btc-crashes-below-68k/
