Following recent declines, the memecoins market shows signs of recovery, offering hope for strengthening positions. However, investors remain cautious, fearing potential traps.

Rapid Growth of New Memecoins

The newly launched memecoins DOG, POPCAT, and MEW are showing significant gains, attracting investor interest. Meanwhile, popular cryptocurrencies like Dogecoin, PEPE, and Shiba Inu are striving to confirm a bullish reversal.

Shiba Inu Price Situation

Shiba Inu's price experienced a significant pullback at the start of the month but managed to rebound after finding interim support near $0.000016. However, bears still dominate, and the recent bounce lacks long-term confidence.

Forecast and Risks for Investors

Current market indicators like volume and RSI suggest a potential drop in volumes and incomplete reversal. If bulls fail to defend the support level at $0.000016, a decline below $0.000015 is anticipated.

Despite some memecoins' growth, market indicators point to potential risks for investors. Caution remains necessary to avoid market traps.