Will the Memecoins Make a Come Back in 2022? DOGE, SHIB Sustains While FLOKI Stumbles Hard!
Dogecoin price has not witnessed any major changes for a very long time and hence the volume, volatility has dropped massively. The descending triangle just gets extended every new day without any notable changes. And hence the DOGE price becoming more divisible, getting ground lower and lower every single day.
The DOGE price attempted a recovery very recently and since then struggling very hard to maintain a significant uptrend. Woefully, the attempt appears to have gone in vain as the price is experiencing a slight pullback at the moment. With the decreased volatility, the strength of the rally also has reduced drastically and hence no particular change in trend may be witnessed in the near future.
Shiba INU price is constantly failing to record gigantic moves, as each trail is being rewarded with a strong rejection. Moreover, post the rejections, the resistance levels also drop which is not a good factor for an ascending trend. However, fighting with the odds, the price has now approached the decisive phase where-in a small wrong move may drive back the price closer to $0.000022.
As mentioned in the chart, the SHIB price has squeezed its rally drastically as the size of the descending triangle also slashed drastically. The asset, no doubt broke out from the descending triangle but still remain aloof from flowing within an uptrend. And hence remained almost stagnant and going parallel with the lower support. Therefore, with such a reduced volume and volatility, the memecoin may not get back into action.
FLOKI price appears to be in deep trouble as the asset is swinging below the support levels since the beginning of 2022. The asset failed to gather huge bullish momentum and hence remained within the danger zone. The volume has slashed to a large extent reducing the price variations to a large extent. And hence compelling the price to remain within a very narrow range.
The FLOKI price after it ignited a steep drop after it smashed its highs close to $0.0000400. The drop has dragged the price below the support levels. Moreover, due to the slash in the trading volume, the price is unable to make a strong comeback.
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