As Shiba Inu Struggles, Investors Pivot to New Dog Coin ICO for 1,000% Returns
Shiba Inu (SHIB) has been struggling amid a wider crypto market correction, which sees its price consolidate between $0.000013 and $0.0000173.
Currently trading at $0.00001666, SHIB’s volatility has led some investors to explore alternative options. One new project gaining attention is the widely-talked-about Base Dawgz ($DAWGZ), which offers a unique value proposition and potential for growth. This shift in focus comes as the meme coin sector experiences a period of recalibration, with even established players facing challenges.
Shiba Inu is one of the darlings of meme coin investors, but it has been struggling to break new ground for months now. Today’s technical analysis reveals a concerning pattern of lower highs and lower lows over the past month, suggesting a potential bearish trend.
The token’s 20-day moving average has recently crossed below the 200-day moving average, forming a bearish “death cross” that often signals further downside.
The Relative Strength Index (RSI) hovers around 50.28, indicating neither overbought nor oversold conditions but failing to show strong bullish momentum.
The struggles of SHIB are not unique; other popular meme coins are also experiencing substantial downtrends from their all-time highs.
Pepe ($PEPE) struggles to maintain its initial momentum despite a strong community, trading at $0.00000902 at press time.
Dogwifhat ($WIF), after an explosive start on the Solana network, has retraced nearly 70% from its all-time high, highlighting the volatile nature of meme coins.
Even $BRETT, one of the standout performers on the Base network, has not been immune to market pressures, as it currently trades at a 40% discount from its peak.
These drawdowns reflect a broader trend in the meme coin
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