Crypto Carnage: Meme Coins Down 75%—Can DOGE and SHIB Recover?

Meme coins, once favorites among investors, have taken a sharp downturn recently. Some coins have fallen by as much as 75% in value.

This price drop is hitting major coins like Dogecoin ($DOGE), Shiba Inu ($SHIB), and others, leading many to question their future.

Dogecoin’s Struggles and Resistance

Dogecoin ($DOGE) is trading at $0.3321, up by 1.39% in the past 24 hours. Despite showing resilience, it faces resistance at $0.3350.

If it breaks this level, it might test $0.3400. However, if the price falls below $0.3270, it could dip further to $0.3200.

Shiba Inu’s Recovery Potential

Shiba Inu ($SHIB) is trading at $0.00001868, up by 1.56% over the last day. While there’s volatility, it’s showing signs of recovery.

SHIB faces resistance at $0.00001880, and the next major hurdle is $0.00001900. If it breaks below $0.00001840, it could face deeper losses.

Pepe and Bonk Show Volatility

Pepe ($PEPE) is up by 4.14%, trading at $0.00001308, but faces resistance at $0.00001330. A drop below its current support at $0.00001280 could lead to further losses.

Bonk ($BONK) is showing similar volatility, trading at $0.00002525, up by 1.59%. It faces resistance at $0.00002650. A fall below $0.00002500 could push the price down further.

What’s Next for Meme Coins?

Despite the recent crash, meme coins like Dogecoin, Shiba Inu, Pepe, and Bonk continue to show signs of potential recovery. However, key support levels remain crucial for these coins’ futures.