Price analysis
How Will TRUMP Inauguration impact SHIB ?
Shiba Inu price plummeted 5% to hit $0.000022 on Sunday, January 19 as traders reacted to Donald Trump’s memecoin launch hours before the US Presidential Inauguration. Memecoin sector performance trends suggest SHIB price could be at risk of further downside.
Shiba Inu (SHIB) Market Cap Declines $700m as traders react to Trump Token Launch
Shiba Inu (SHIB) faced intense selling pressure on January 19, dropping 5% to $0.000022 as its market cap shed over $700 million. This decline coincided with Donald Trump’s memecoin debut, with the $TRUMP token surging 131% in 24 hours and claiming a $12.5 billion valuation.
The sudden interest in Trump-linked tokens has disrupted the memecoin sector, prompting traders to pivot from established assets to trendier entrants.
According to Coingecko data, memecoin market grew by 1.4% overall, reaching $130 billion in total capitalization, but legacy tokens such as Dogecoin (DOGE), Pepe (PEPE), and SHIB all posted losses.
This divergence signals a shift in market dynamics, as investors favor new, narrative-driven tokens.
While DOGE fell 0.5% and PEPE dropped 5.8%, the $TRUMP token saw unprecedented transaction volumes, attracting millions of dollars in speculative capital within hours.
Trump-linked tokens, including $MAGA and $TRUMP, now dominate market discussions, leading gainers by triple-digit percentages. This shift has introduced volatility across legacy tokens, with SHIB bearing the brunt of the sell-off.
Despite broader market growth, the current SHIB price decline reflects waning trader confidence, as funds flow to newer assets promising quicker returns. If this trend persists, legacy memecoins such as SHIB, DOGE and PEPE remain at risk of losing more market share.
Shiba Inu price forecast: Bears in Control as $0.000020 Support Wobbles
Shiba Inu price forecast chart currently paints a neutral outlook, with bulls struggling to hold the $0.000021 support level after an 11% pullback.
As the daily time frame candlestick breaches the midline of the Bollinger Bands (BB) at $0.00002242, this position signals that bears are testing a critical support zone. If this level fails to hold, SHIB risks accelerating losses toward the psychological support at $0.00001800.
More so, the Relative Strength Index (RSI) at 45.52 trends below the neutral 50 mark, signaling weakened bullish momentum. A further decline in RSI could confirm continuation of the bearish trend. However, the narrowing BB bands hint at reduced volatility, suggesting potential stabilization near current levels.
For a bullish scenario, a decisive reclaim of the $0.00002242 midline could pivot sentiment, targeting $0.00002470, the upper BB. This move requires increased trading volume and a positive RSI divergence. Until decisive signals emerge, SHIB’s short-term trajectory leans cautiously bearish.
Frequently Asked Questions (FAQs)
The price fell due to intense selling pressure linked to Donald Trump’s memecoin launch, which shifted market focus.
Key support levels are $0.000021 and $0.000020. Breaching these could trigger a decline to $0.000018.
A recovery is possible if SHIB reclaims the $0.00002242 Bollinger Bands midline and sees increased trading volume.
ibrahim
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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tHESSSSSSStHE The XRP price continues to face challenges in sustaining support at $2 during the recent market period. The bearish trend exists, yet XRP continues to stay above its essential support level. Investors now explore alternative cryptocurrencies because of declining interest in XRP. The crypto that is promising to buy includes CRO alongside EOS, PI, and SOL, which present strong investment possibilities.
Crypto to Buy: Cronos (CRO)
The cryptocurrency market recognizes Cronos (CRO) as one of the cryptos to watch today because of its increased vitality and expanding user base. In the last 24 hours, CRO experienced a 5% increase, which brought it to $0.1036. The token holds a position among the highest-performing assets.
The major partnership between CRO and Donald Trump’s Truth Social platform became recently public. CRO investors will soon have access to a fresh ETF focusing on the cryptocurrency. Market analysts predict this token will have a robust rally throughout the current market cycle because of the recent developments.
Eos (EOS)
EOS price maintains $0.5752 support position at a vital entry point which market analysts track for potential breakouts. Market watchers identify the asset as a key observation because breaking out from this position could generate a bullish price movement reaching between 65% and 80% The trading volume keeps rising which indicates increasing buying pressure and developing momentum.
The noticeable traits of EOS Network as a high-performance open-source blockchain platform include its focus on flexibility and security and developer-friendly design, along with its emphasis on scalability and user experience making it among the crypto to buy.
Pi Network (PI)
Pi price is trading at $0.8224 PI price is among the top altcoins to buy as investors are eyeing recover. The Pi Network price crashed in March as it lacked a clear bullish catalyst and as the market remained concerned about its burn rate. The Pi coin crashed to a low of $0.83 on Friday, meaning it collapsed by over 65% in March.
A potential exchange listing by Binance in April could catalyze the Pi Network’s price. Other notable exchanges that may drive its price higher are South Korean giants such as Upbit and Bithumb and US companies like Coinbase, Kraken, and Gemini.
Solana (SOL)
Solana (SOL) price is gaining traction amid a broader market correction as Bitcoin trades below $88,000 and Ethereum stays under $2,000. SOL recently dipped to $129 but remains crypto to watch, especially with XRP struggling to hold above $0.62.
According to analysts on X, $125 stands out as a key support zone for Solana in the short term. Despite current pressure, speculation tied to ETF and overall sentiment may trigger a SOL rebound this week making top altcoin to buy now. The 24-hour trading volume for Solana stands at $3.43 billion, showing an 18.77% increase.
Final Thoughts
As XRP price faces resistance, these cryptos to buy now, including CRO, EOS, SOL, and PI, could see growth potential in the current market.
Frequently Asked Questions (FAQs)
CRO surged 5% recently and gained attention due to its Truth Social partnership.
A possible listing on Binance and other major exchanges could support a price rise
Solana is holding near $125, seen as a short-term support zone.
Anna
Annah enjoys writing about cryptocurrency and blockchain technology. With More than 5 years of experience. For years she has followed their development and now believes these technologies could potentially revolutionize many industries. She has specialized in technical analysis to help cryptocurrency traders make more informed decisions.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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The crypto market has dropped today, March 28, with Bitcoin price dropping below $86,000. This decline in BTC price has also affected Ethereum, XRP, and Dogecoin. This widespread market crash has been caused by a massive sell-off in the spot market as depicted by data from Bitfinex. Macroeconomic concerns such as Trump’s fresh tariffs and the PCE inflation data are also causing market anxiety.
Why is BTC, ETH, XRP, and DOGE Dropping Today?
Bitcoin price struggles to defend the support level at $86,000 following a 1.6% dip in 24 hours. At the same time, Ethereum and XRP have fallen by 5% and 4%, respectively. Dogecoin price has experienced the biggest single-day loss of 7% despite analysts sharing a positive DOGE outlook.
One of the reasons why the Bitcoin price is dropping today is an influx of selling activity on the Bitfinex exchange. This selling activity is shown by the spot CVD indicator that points out a large number of sell orders on Bitcoin while buying pressure weakens. The spot CVD has been on a downtrend since early this week, a sign that traders are capitulating.
Ethereum price is also dropping today because of low demand from buyers. One analyst on X noted that selling pressure has been weighing on ETH since December last year. If this continues, Ethereum will continue to drop further and possibly fall below $2,000.
Additionally, the BTC Deribit Skew shows that the market sentiment towards Bitcoin is now bearish. Analyst Nazro has observed an increase in the number of traders that are purchasing put options in the $80,000 to $85,000 price range. When many traders are buying put options instead of call options, it shows that they anticipate the Bitcoin price to continue dropping.
This negative market sentiment adds to the factors that are making the crypto market to drop today.
muthoni
Muthoni Mary is a seasoned crypto market analyst and writer with over three years of experience dissecting blockchain trends, price movements, and market dynamics. With a sharp eye for technical analysis and an in-depth understanding of on-chain metrics, she delivers insightful, data-driven content that helps investors navigate the fast-paced world of digital assets.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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Dogecoin price has tanked this year, coinciding with the recent crypto sell-off. This crash has erased billions of dollars in value. Still, one crypto analyst believes that it is just a matter of time until the DOGE price recovers, and potentially hits the psychological point at $1.
Crypto Pro Predicts Dogecoin Price Will Hit $1
A popular crypto expert has come out with a bullish DOGE price prediction even as it deviates further from its 2024 highs. The analyst used a weekly chart to identify chart patterns he believes will drive the upcoming bull run.
As shown below, he noted that the Dogecoin price has been forming a falling wedge pattern on the weekly chart. The upper side of this wedge links the highest swings since December, while its lower side connects the lower lows since Dec. 19. This pattern often leads to a strong bullish breakout when the two lines are nearing their confluence level.
The analyst also pointed out that DOGE formed a similar pattern between March and November last year, culminating in a strong bull run to a high of $0.45.
In this case, Dogecoin has formed a falling wedge and retested the important support at $0.2280, the highest swing in March last year. A break and retest pattern signals a potential continuation.
The pro now expects that the coin will initially jump to $0.50. After that, he expects it to surge to $1. Such a move would be a 400% surge from the current level. It would also push its market cap to $140 billion.
A 400% surge is possible in the crypto market. For example, Dogecoin jumped by 720% from its 2023 lows to the highest swing in 2024. It can also jump by 285% to get to its all-time high of $0.7370. After that, it will need to soar by just 0.35% to hit $1.
The bullish DOGE outlook will be canceled if the coin crashes below the ascending trendline that links the lowest levels since June 2023.
Potential Catalysts to Push DOGE Price to $1
Dogecoin price has numerous catalysts that may push it to $1. First, the upcoming reciprocal tariffs may sink the US into a recession, leading to Fed interventions like rate cuts and quantitative easing. These actions may lead to a new crypto bull run.
Second, Polymarket users believe that the SEC will approve a DOGE ETF. That’s because Dogecoin is similar to Bitcoin in that it is a proof-of-work coin that the SEC does not consider a security. Such an ETF will lead to more demand from Wall Street investors.
Further, Dogecoin may benefit from the creation of crypto reserves since it is a candidate for inclusion. Finally, DOGE is one of the top blue-chip meme coins, meaning that it may see traction as investors rotate from risky Solana meme coins.
Frequently Asked Questions (FAQs)
Technicals suggest that the DOGE price is bullish and that it may surge to $1 in the coming months.
The most bullish view is that it has formed a falling wedge pattern on the weekly chart.
The bullish outlook to $1 may take time since it is based on the weekly chart, which is a lagging one. As such, it may take months or years.
crispus
Crispus is a seasoned Financial Analyst at CoinGape with over 12 years of experience. He focuses on Bitcoin and other altcoins, covering the intersection of news and analysis. His insights have been featured on renowned platforms such as BanklessTimes, CoinJournal, HypeIndex, SeekingAlpha, Forbes, InvestingCube, Investing.com, and MoneyTransfers.com.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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