The market saw a large drawdown these past few days due to profit taking and US tariffs. But, the meme coin market probably saw the worst hit with DOGE and SHIB prices receding fast from early profit zones. Whereas, as Shiba Inu and the Dogecoin price head down, investors are now seeking a haven in a new low-cap altcoin that has continued to ride higher.
Here is a quick breakdown of how DOGE and SHIB prices performed this last week and a market projection for why porting now could be the best move.
Is Dogecoin Price Already Losing Steam?
The Dogecoin price saw a quick breakout a few weeks ago, hitting a level that experts believe could see a new bull run. However, in a move that reemphasizes DOGE’s receding dominance, the price is now at a new multi-day low.
The Dogecoin price hit $0.1896 yesterday, marking the lowest in the last 20 days, dropping the weekly performance by -15%. However, the concern remains whether the DOGE price can still recover this month.
Following the Dogecoin price technical setup, there is a new triangle formation indicating a potential strong bearish continuation. Also, the DOGE price shows a recent breakout below the 50-SMA and 100-SMA, showing traders are exiting. By analysis, further move downward could see the Dogecoin price at $0.1530, taking the 200-SMA as new support.
Factors Affecting SHIB Price Reversal From Recent Surge
The news of meme coins lacking substantial utility has hit its peak and is now becoming a concern for many top investors. Therefore, while the Shiba Inu coin tries to regain its old highs, the lack of utility continues to knock its growth.
However, the rise in loss cascade is giving room for mass investors to exit, as over $200 million has been liquidated in meme coins recently.
Also, the drop in hype has been a primary factor affecting the SHIB price lately. The SHIB price is also showing a similar pattern to DOGE, with an RSI at 14 indicating intense selling pressure.
While the SHIB price is currently seeing a 2% daily correction upward, the price pattern suggests a further drawdown in the coming days.
Why Remittix Keeps Attracting Market Smart Money
Remittix is fast climbing in the last few days with low cap appeal, making it a strong option for investors looking for the early-days bitcoin appeal. Moreover, the surge of the Remittix inflow over the past few weeks suggests this is where the whales are camping. As the market correction continues downward, the Remittix utility has only kept it upward, fueling speculation of 30x this year.
The Remittix project adds several features, making it the top choice right now, some of which include:
- Innovative solution with crypto-to-fiat payment for cross-border transactions directly into bank accounts
- A low-cap appeal that guarantees a fast climb upward as analysts fuel demand with a 100x surge before next year
- Passive income with up to 18% APY in staking and a 40% Bonus on early token investment
Remittix is opening up a possibility for massive gain this season, with the token still trading at only $0.0895 and high-value utility.
Discover the future of PayFi with Remittix by checking out their project here:
Website: https://remittix.io/
Socials: https://linktr.ee/remittix
$250,000 Giveaway: https://gleam.io/competitions/nz84L-250000-remittix-giveaway
Disclaimer: This media platform provides the content of this article on an "as-is" basis, without any warranties or representations of any kind, express or implied. We assume no responsibility for any inaccuracies, errors, or omissions. We do not assume any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information presented herein. Any concerns, complaints, or copyright issues related to this article should be directed to the content provider mentioned above.
