Top 5 Worst-Performing Meme Coins This Week

Crypto markets are buzzing with news about the worst-performing meme coins this week. These digital tokens, known for their playful themes and high volatility, have seen significant declines. The story goes deeper, revealing which of these struggling coins might bounce back and which ones could remain in the red. Dive in to discover the details.

Pepe Coin's Path to Potential Recovery

Source: tradingview 

Pepe Coin's price hovers between $0.000004246 and $0.000005912. It's struggling but shows potential. The 10-day moving average is just below the 100-day, indicating recent downward momentum. Yet, the price staying near resistance at $0.000006961 suggests a possible upward break. If it climbs to the second resistance at $0.000008627, investors could see an increase of about half the current price. Current market indicators hint that Pepe may soon bounce back. However, it’s worth noting its roller-coaster ride with a big drop over the past months. As always with crypto, surprises can happen.

Bonk (BONK) Battles Downtrend, Eyes Potential Rebound

Source: tradingview 

Bonk's trading price bounces between four and thirteen ten-thousandths of a dollar. Although recently declining by 17% over the last week and 30% in a month, some signs hint at possible upside. It is flirting with a key resistance of about fifteen ten-thousandths and may aim for over eighteen ten-thousandths if momentum shifts. Breaking these levels could signal growth near 45% from current levels. However, RSI and other technical indicators suggest cooling interest. Yet, any rise above the ten-day simple moving average might spur optimism for this canine-themed crypto. As always, past performance isn't an indicator of future gains, so keep an eye on market trends for BONK's next move.

Shiba Inu (SHIB) Eyes Recovery Amid Price Slump

Source: tradingview 

Shiba Inu's price is currently hovering between eight and nine ten-thousandths of a dollar. It recently faced a dip, falling by over ten percent in a week. The crypto community is watching closely to see if SHIB can break the nearest resistance level of about one ten-thousandth of a dollar, which would signal a potential climb. Should SHIB manage to surpass this, reaching its second resistance level could offer a gain of nearly 27% from its current range. However, its RSI suggests it is not yet overbought, leaving room for possible growth. Despite a six-month slide of over 44%, SHIB's supporters are hopeful for a bullish trend.

Pudgy Penguins Sees Mixed Signals with Hopes for a Climb

Source: tradingview 

Pudgy Penguins (PENGU) sees its price between a low of about $0.0108 and a high nearing $0.0154. The coin has faced a rough time recently, dropping nearly one-fifth in just a week and almost half this month. Despite this, it might find some solid ground soon. If PENGU breaks through its nearby resistance at $0.0183, it could lead to a rise, eyeing $0.0228. This would mark a jump of over 48% from where it’s now at its highest today. Traders keep an eye on strength indicators; with an RSI near 40, PENGU has room to grow if momentum shifts upwards.

Dogecoin Fluctuates Amid Bearish Trends, Eyes Key Resistance Levels

Source: tradingview 

Dogecoin's current price is wavering between fourteen and eighteen cents. The coin is trying to break free from a bearish trend with almost a nine percent drop in the past week. A move above nineteen cents could open doors to higher gains, possibly hitting twenty-three cents. This jump would be close to a thirty percent increase from the current range, signaling strong growth potential. However, the current trend shows challenges too, as indicated by a nearly twenty percent drop over the past month. Dogecoin enthusiasts are hopeful for a rebound, eyeing key resistance levels that could mark a turning point.

Conclusion

PEPE, BONK, SHIB, PENGU, and DOGE have faced significant declines this week. Each of these coins has shown a lack of strength, leading to steep drops in their value. The downward trend highlights challenges in maintaining their earlier hype and popularity. The market has seen these coins struggle to capture investor interest. This week’s performance raises questions about their future prospects and stability.

 

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.