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- Dogecoin is the only memecoin that exists in the top 10 cryptocurrencies.
- In Shiba Inu, the RSI has generated a death crossover, indicating a bearish forecast.
Dogecoin, Shiba, Pepe, WIF, and Bonk are the 5 memecois to watch in August 2024.
DOGE, SHIB, and WIF have been strongly bearish, while PEPE and Bonk are mildly bullish. Dogecoin has secured its spot in the top 10 cryptocurrencies in terms of market capitalization.
Dogecoin Price in Lower High Territory: Would It Decline Further?
At press time, Dogecoin was being traded at $0.126, which has risen by 1.03% in an intraday session. The market capitalization was $18.40 Billion, and the circulating supply is 145,342,466,384 DOGE.
The chart structure displayed that the DOGE price is stuck in the lower high zone. It has been declining due to resistance from a trendline. However, the crypto price has attempted twice to overcome the trendline but couldn’t.
It seems that buyers have failed to dominate, and the price is expected to record a new lower low. The Dogecoin price has slipped below the 200-day EMA, which showed the sellers’ grip.
On the other hand, if the digital asset price manages to surpass the trendline, it might attract buyers. Smashing the $0.1600 hurdle may convince the buyers for the last swing high.
Could the SHIB Price Lose 35% in August?
Based on the technical chart, the Shiba Inu price has triggered a bearish pullback after a sharp downfall. The price has faced resistance from the 200-day EMA and invited sellers.
Assuming the digital asset price fails to defend the $0.0000150, it might be difficult for the buyers to bounce back. During this move, the price is expected to lose around 35% in August as the buyers have lost momentum.
Alternatively, buying momentum can be expected if the Shiba Inu price defends the last swing low. Strong buying momentum can be anticipated if the price starts trading over the 200-day EMA.
Technical Analysis of PEPE Price Over 1-D Timeframe
The PEPE has diluted 100% of its total supply of coins in the cryptocurrency market. It has a market cap of $4.82 Billion, and its 24-hour trading volume is $515.60 Million.
On a wider time frame, the Pepe crypto price has risen by forming higher highs and lows. At press time, the price has departed from the higher low territory and is heading for the higher high.
For the past 2 weeks, the digital asset price has been stuck in a narrow zone. If the buyers dominate this consolidation phase, the price may perform positively and reach a new higher high. On the flip side, if the sellers dominate, the price may melt to the 200-day EMA.
WIF Price Technical Analysis
At the time of writing, the Dogwifhat price has started trading below the 20-day EMA. Suppose the price sustains below the EMA, sellers may get the opportunity to lead the trend. The price may develop a new lower-low swing during this bearish momentum.
On the contrary, sellers might panic if the buyers manage to lift the price over the 20-day EMA. According to the chart, if the price smashes the $3, the price may display a bullish trend.
Bonk Price Technical Overview
Based on the chart structure, the Bonk crypto price has shown slow and steady growth. It has risen by defending the last swing highs, but it has attempted twice to overcome the $0.0000400 hurdle but couldn’t.
If the buyers show interest, the price might extend to the major resistance level of $0.0000400. On the other hand, if the sellers dominate, it may melt to the 200-day EMA.
The top 5 memecoin to watch in August 2024 are DOGE, PEPE, WIF, SHIB, and Bonk. Doge and Shiba Inu are showing bearish momentum and are expected to remain bearish in August.
However, the PEPE and Bonk may show a little bit of strength. The price momentum of these coins may vary based on the BTC price momentum.
Disclaimer
This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.
