Bearish Momentum: Will SHIB, BONK, and PEPE Recover?
Shiba Inu (SHIB) – Struggling with Bearish Momentum
SHIB has been falling since May 2024. It is currently trading at $0.00001359, down 1.81%. Its RSI is 42.20, indicating that it is not oversold, but sellers are still in control.
SHIB holders are worried that it will not surpass its previous highs in the near future. The new rules against meme coins have not helped, and have also exacerbated these concerns. I guess this is an understandable reaction.
Bonk (BONK) – Downward Spiral
BONK has also fallen. It peaked at $0.000036 in June, but is now trading around $0.00001696. Its current RSI is 43.13, indicating a reduction in buying interest.
PEPE has been falling since mid-June.
Its price dropped from $0.000001800 to $0.000000667. It struggled to break above $0.000001200 and $0.000001800.
With the RSI approaching around 50, more selling may come soon. Investors are skeptical that PEPE can rise above the early hype.
