- Bonk (BONK) cryptocurrency surges 39.99%, reaching $0.000021 in price.
- Shiba Inu (SHIB) sees 17.50% increase, potentially heading towards $0.000030 value.
- Dogecoin (DOGE) trades at $0.16, with indicators suggesting a rise to $0.18.
Following a prolonged period of declining values, meme cryptocurrencies have experienced a resurgence, with notable price increases over the past day. Data from CoinMarketCap reveals that Bonk
As a result of this surge, its price has reached $0.000021. Shiba Inu
Bonk (BONK)
After remaining in a phase of consolidation and trading within the same area since April 13, BONK has now broken out. Concurrently, the Bollinger Bands (BB) have indicated a rise in volatility surrounding the token, as evidenced by the bands expanding. It is anticipated that BONK will experience considerable price movements due to this.
Nonetheless, the token appeared overbought as the BB’s upper band reached a price level of $0.000021. The overbought condition was further confirmed by the Relative Strength Index (RSI), which stood at 82.56 at the reporting time.
Consequently, BONK may undergo a significant pullback. The token’s price could plummet to $0.000015 in an extreme bearish scenario. On the other hand, should the bullish momentum persist, the token’s value might approach the resistance level at $0.000024.
Shiba Inu (SHIB)
The 4-hour SHIB/USD chart’s Chaikin Money Flow (CMF) indicator showed patterns akin to those observed for BONK. At the time of writing, the CMF stood at 0.25, signifying a positive influx of capital into the token.
However, the indicator had surpassed the 0.20 mark, which could imply that SHIB was in an overbought state. Therefore, SHIB might see a price correction that could bring its value down to $0.000023. Nonetheless, the Awesome Oscillator (AO) exhibited a positive trend, as evidenced by the increasing green bars on its histogram.
Should SHIB enthusiasts sustain the upward momentum, the token’s value has the potential to escalate to $0.000030. This could pave the way for the meme cryptocurrency to potentially reach $0.000032 again.
Pepe (PEPE)
PEPE has successfully regained the $0.0000061 level without encountering any opposition. If the current positive trend continues, the token’s price could be propelled to $0.0000067.
However, the 20-period Exponential Moving Average (EMA) in blue has descended beneath the 50-period EMA in yellow on the 4-hour chart, indicating that a firm bullish trend has not been confirmed. Nonetheless, with PEPE’s price now above these EMAs, the bulls may be able to avert a price pullback.
Conversely, should market participants opt to realize profits from the recent uptick, the price of PEPE could potentially decline to $0.0000052 in the near term.
Dogecoin (DOGE)
Currently, the price of DOGE stands at $0.16, and the MACD indicator hints at a potential increase in value. The following chart indicates that the MACD is positive, implying that the cryptocurrency may maintain its current upward trend.
If this trend persists, DOGE’s value could climb to $0.18. Nonetheless, investors should remain vigilant for signs of a downward movement interrupting the positive trend.
Furthermore, the Fibonacci extension indicated that DOGE could rise further if the value doesn’t experience a substantial correction. In such a case, the cryptocurrency’s price could reach $0.24 in the coming months.
Disclaimer: The insights, perspectives, and data presented in this price analysis are published in good faith. Readers must conduct their own research due diligence. Any decision made by the reader is solely their responsibility, and Crypto Outlooks shall not be held responsible for any consequential or incidental harm or loss.
