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Market Fluctuations Impact Meme Coins

Apr 6, 2024

Cryptocurrency prices, including meme coins like Shiba Inu (SHIB), Dogecoin (DOGE), and BONK, have seen significant declines in the past week. SHIB fell by 8.67%, DOGE dropped by 11.09%, and BONK lost 17.56% of its value. However, in the last 24 hours, all three coins showed gains. Social dominance measures showed a rise in popularity for SHIB, DOGE, and BONK which could impact their volatility. If buying pressure continues, gains could increase, but intensifying selling pressure could lead to harsh corrections. Short-term fluctuations are expected based on the current trends.

Regarding price predictions, BONK could rise to $0.000024, SHIB to $0.000030, and DOGE to retest $0.20. RSI readings and volume analysis indicate varying trends for DOGE, SHIB, and BONK, suggesting caution in interpreting bullish trends. Volumes for DOGE and SHIB have decreased, potentially impacting weekend price forecasts. If volumes increase alongside price movements, meme coins could experience significant leaps. The situation is subject to change, and premature predictions should be avoided.

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