Meme Coin Mania: Will DOGE, SHIB, and BONK Bask in Bitcoin’s Halving Sun?
- The upward crossover of the 50 EMA over the 200 EMA suggests a DOGE uptrend later.
- While SHIB might breakout, it might not reach its All-Time High again.
- With Solana’s backing, BONK might repeat last year’s performance after the halving.
Meme coins Dogecoin (DOGE), Shiba Inu (SHIB), and Solana-themed Bonk (BONK) all started the year slowly. On a Year-To-Date (YTD) basis, Dogecoin’s price had decreased by 14.35%.
SHIB has lost 16.28% of its value since the year started. BONK, which had an impressive performance in 2023, dropped by 23.19%. These performances have caused concern in the market, with participants asking if the cryptocurrencies would recover soon.
For now, it is uncertain if they would in the short term. But traders can look forward to the Bitcoin (BTC) halving as a catalyst that could drive the prices up. Historically, the Bitcoin halving has proven to be an event that pushes prices across the market up. This data was what led Coin Edition to assess if the event could impact these memecoins again.
Dogecoin (DOGE)
The last Bitcoin halving was in May 2020. Around that ti…
The post Meme Coin Mania: Will DOGE, SHIB, and BONK Bask in Bitcoin’s Halving Sun? appeared first on Coin Edition.
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Meme Coin Mania: Will DOGE, SHIB, and BONK Bask in Bitcoin’s Halving Sun?
- The upward crossover of the 50 EMA over the 200 EMA suggests a DOGE uptrend later.
- While SHIB might breakout, it might not reach its All-Time High again.
- With Solana’s backing, BONK might repeat last year’s performance after the halving.
Meme coins Dogecoin (DOGE), Shiba Inu (SHIB), and Solana-themed Bonk (BONK) all started the year slowly. On a Year-To-Date (YTD) basis, Dogecoin’s price had decreased by 14.35%.
SHIB has lost 16.28% of its value since the year started. BONK, which had an impressive performance in 2023, dropped by 23.19%. These performances have caused concern in the market, with participants asking if the cryptocurrencies would recover soon.
For now, it is uncertain if they would in the short term. But traders can look forward to the Bitcoin (BTC) halving as a catalyst that could drive the prices up. Historically, the Bitcoin halving has proven to be an event that pushes prices across the market up. This data was what led Coin Edition to assess if the event could impact these memecoins again.
Dogecoin (DOGE)
The last Bitcoin halving was in May 2020. Around that ti…
The post Meme Coin Mania: Will DOGE, SHIB, and BONK Bask in Bitcoin’s Halving Sun? appeared first on Coin Edition.
Read More
Shiba Inu (SHIB) Price Prediction for May 8: Can Bulls Break the Barrier?