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Meme Coin Predictive Analysis for March 24, 2022

by | Mar 24, 2022 | Uncategorized | 0 comments

This week has brought some pumps to the market by shooting the market cap to $2 trillion. A lot of investors keep asking early are the bulls back?

The market is now getting more interesting as bitcoin continues to stay above $40,000 which has made some altcoins a lot to pump. Are we on the way to a big price move to the upside or is it another bear trap?

We are going to be giving the price prediction of the following meme coins.

Shiba Inu

An ETH whale bought a whopping $89 million worth of Shiba Inu (SHIB). That’s just short of 4 trillion SHIB and currently represents over 30% of their portfolio. SHIB’s price moved above the descending trendline that was acting as resistance (in dotted line) with good volume. Since then, the price has continued upwards and may reach the key resistance at $0.000028 if momentum maintains. The current support is found at $0.000023.

Technical Indicators

Trading Volume: The volume had a nice increase last Saturday during the break, but struggled to remain at that level in the following days.

RSI: The daily RSI is found at 50 points and curving upwards. If it can make a higher high, then that would be an additional bullish signal.

MACD: The daily MACD is bullish with momentum picking up for buyers. This could anticipate a further price increase soon.

Short-Term Prediction for SHIB Price

If buyers manage to keep this momentum and don’t let the price fall below the current support, SHIB has a considerable chance to move much higher and test the key resistance at $0.000028. The most recent correction and downtrend appear over, therefore the price action favours bulls.

  • Resistance levels- $0.0000226, and $0.0000253
  • Support levels are $0.00002 and $0.000017

Dogecoin 

The market capitalization of the first cryptocurrency spiked by $600 million as the coin rallied by around 10% in the last four days following the general recovery of the altcoins market, according to CoinMarketCap. Based on this technical analysis on Dogecoin (DOGE), the price of Doge could keep declining in the coming days if Doge fails to break our projected resistance. If that’s the case, then Doge could go below $0.10 and close to $0.08 in the coming days/weeks. Nonetheless, the price of Doge might be largely affected by the price movement of BTC as well. If the latter maintains its position above $40,000 and has a sudden surge in the coming days, we could see the same happen to Doge.

Indicators

Moving Average

Both the 50-MA and the 20-MA of a 1-day chart are above the current price of Doge, indicating that the trend is bullish in the longer run. Hence, the price of Doge could keep declining in the coming weeks.

  • Resistance levels- $0.129, and $0.125
  • Support levels are $0.012 and $0.1

Floki Inu 

The Floki Inu (FLOKI) price continued to resonate in a narrow range stretching from $0.00004 and $0.000035. On March 20, the sellers breached the range support and slumped 10% to the monthly support of $0.000032. Floki Inu’s most respected support level by technical analysts, which is $0.000027, was broken a few days ago. Floki with all technical indicators turning bears may suffer further downside potential. According to the Bitcoin correction index, if Bitcoin retests last year’s all-time low (ATL) which is $28,800 Floki Inu may move down to $0.00001.

Technical Indicators

The Floki Inu price trading below the crucial EMA(20, 50, 100, and 200) states a bearish trend. Moreover, the coin chart shows the 50-and-200-day EMA approaching a bearish crossover, attracting even more sellers in the market. The MACD indicator lines show a bearish crossover below the neutral zone, projecting a sell signal. The downsloping ADX(17) slope indicates the underlying bearish momentum is increasing.

  • Resistance levels- $0.000036 and $0.000043
  • Support levels-$0.000026 and $0.00002

Technically, Floki Inu at this point is at a discount for the investors who believe in the project. Presently, Floki has lost 94% gained from its time high (ATH).

Wakanda Inu

Wakanda Inu is having support at $0.000000003 and the resistance at $0.000000004. Sideways trading is also confirmed by the low trading volume. If Wakanda Inu keeps trading above $0.0000000033, there is a possibility to see $0.000000004 shortly.

Woof

Woof has been suffering from low liquidity due to its low trading volume.

  • Resistance levels- $0.00027 and $0.0003
  • Support levels-$0.00022 and $0.0002

Summary

This week has brought some pumps to the market by shooting the market cap to $2 trillion. However, until the price of bitcoin shoots above $46,000 we are still in a bear market. Some money flows to the altcoins which make some of the spikes. A question we should ask ourselves now is when are we going to see a major move that will push the price of bitcoin to break the $46,000 resistance zone.

Lastly, there is a high level of fear in the market which scares both traders and investors. The market needs a bullish announcement to bring back the bullish sentiment.


A former professional rugby player, Adam S. Tracy brings over twenty years’ experience as an attorney, consultant and dealmaker with a particular focus on cryptocurrency, digital products, payments and immersive corporate structures. As an accomplished executive and advisor to high risk merchants and stakeholders, Adam has proven himself as a results oriented, decisive leader with proven success advising early market entrants, technology adapters, as well as established participants across a wide range of verticals. Adam Tracy’s attack-first personality allows him to excel in dynamic, demanding environments including complex corporate negotiations, distressed environments and regulatory investigations.

In addition, Adam S. Tracy also has a successful track record co-founding high risk industry ventures, building & leading cross-functional teams, and spearheading diverse corporate transactions. A serial entrepreneur, Adam has successfully started and created exits across a wide swath of markets, including various mobile SaaS ventures, nutraceuticals, peer-to-peer payment systems, and several telemarketing-based ventures. Moreover, as a recognized expert in the payments field, Adam Tracy has been a blockchain and digital currency evangelist and influencer since the early days of Bitcoin.

Utilizing his proprietary “Pre-Event Driven™” strategy for decision making, Adam S. Tracy further leverages his over twenty years’ experience to create cost-effective, value-add solutions for each client. A data-driven acolyte, Adam continually refines his strategies based on field studies and data collection. Moreover, Adam Tracy further augments his range of solutions by actively networking with regulators, liquidity providers, legal and compliance experts, deal-flow brokers, investors and management of leading high risk industry ventures.

Adam S. Tracy earned his Bachelor of Science in Computer Applications and Bachelor of Science in Finance from the University of Notre Dame. He subsequently earned his Masters in Business Administration from the DePaul Kellstadt Graduate School of Business, while concurrently earning his Juris Doctorate from the DePaul College of Law. Adam lives outside Chicago with his with his wife, son, four dogs, and two cats.

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