Here is What’s Next for These Memecoins!

After the recent upswing, the bulls have become a little passive as the major tokens are consolidating around the gains. Meanwhile, the prices of popular memecoins like Dogecoin & Shiba Inu are going against the trend. Will they remain bearish throughout the day or trigger a healthy rebound after hitting the local lows?

Dogecoin (DOGE) Price Analysis

Dogecoin rebounded from its crucial support at $0.1, which revived hopes for a fresh ascending trend. However, the price failed to secure the levels above the local top at $0.127, raising concerns for the next price action. The tokens face extreme upward pressure, suggesting more bearish action may be incoming.

After failing to secure $0.22, the DOGE price could fail to hold support at $0.1 in the coming days. The price consolidated just below the resistance at $0.1274 throughout the second fortnight of June, resulting in a 20% pullback. A similar consolation is occurring at the moment and hence a similar outcome may be expected hereafter. The RSI displayed a bearish divergence, while the DMI also underwent a bearish crossover and the ADX has also plunged. 

Therefore, the Dogecoin price may test the support at $0.1 and if bulls fall weak, a more descending trend could follow. 

Shiba Inu (SHIB) Price Analysis

Shiba Inu price has failed to gain the required momentum as the prices are constantly forming lower highs and lows. This suggests the price has been stuck under a huge bearish influence, which could result in a 40% pullback in the next 7 to 10 days. However, if the bulls manage to hold the lower support, then the SHIB price may revive a rebound, while the intensity could be restrictive. 

The SHIB price has been trading within a descending parallel channel while the bears conquered the rally before it tested the upper resistance. Currently, the MACD indicates a drop in the selling volume, while the RSI displayed a bearish divergence. Therefore, the SHIB price appears to be prone to hitting the lower support of the channel at $0.0001. However, if the bulls manage to hold the average bands of the channel at $0.0001630, then the bearish trajectory may differ to some extent. 

Therefore, the Shiba Inu (SHIB) price continues to remain under bearish influence and hence the lower target seems to have been activated.