The Crypto market has been experiencing critical volatility during the recent days, especially after the report of employment published by the United States. A question that arises in the minds of users is, is it a good time to invest in crypto?
Most people leave the opportunity due to the fear of losing, and some of them are left behind by keeping on waiting for the best time to jump in. The best way to invest in crypto is to do a Dollar Cost Average (DCA)
DCA is a mechanism to invest your assets in digital currency in some portions. For example, if you are planning to invest $100 in crypto, the one option is to invest all in one go.
The other option is to invest in portions; let’s say that in the start, you invest $10 in a coin, and its price drops by 7%; after that, you again invest $10, and the price further drops by 5%. For the third time, the price started to gain its strength and give a rise of 30%. In this way, you will manage to get more profit as you invest at different levels of prices.
Today, some meme coins can give you the profit you expected from crypto.
- Doge
- Pepe
- Shib
- Wif
Dogecoin
A famous meme coin stands at # 8 among all the cryptocurrencies and is also known as the mode of payment collected by Elon Musk. Doge gained a lot of attention after the various posts made by the owner of X. Some of the investors do believe that Elon Musk is a major shareholder in this coin and that’s the reason behind all the posts made by him.
Doge started its trading on December 13, 2013, with a starting price of $0.0004, and is considered the first meme coin in the crypto ecosystem. Dogecoin is currently experiencing a price drop of 2.15% in the last 24 hours and trading at the mark of $$0.1419.
The market cap of this token is $20.53B, and the 24-hour trading volume is $938.16M. Doge is considered as one of the most stable memecoin which has the potential of high returns in the long run.
In a 7-day graph, doge experienced a price drop of 10.50%, and in a 1-month graph, doge experienced a change of 0.88% in its price.
While talking about the technical indicators, the doge four-hour graph showed that the 50-day moving average is sloping dawn, and the same trend is reflected by the 200-day moving average, indicating a weak trend of this token.
The RSI indicator reflects an oversold scenario of this token, which means it can further experience a price drop before heading to a new high.
Pepe
The token was released in the middle of April 2023, with a trading price of $0.000000001 per token. Now, Pepe is no 23 among all the cryptocurrencies, with a total gain of 21623.92% after its release.
Pepe proved itself as one of the most profitable tokens after its launch, attracting many investors to trade on it and making high profits.
Pepe is trading at the mark of $0.00001234 at the time of writing, with a drop of 2.02% in its price from yesterday. Due to market volatility, Pepe witnessed a price drop of 13.90% in a weekly graph, and a positive price change of 45.31% was deducted in a 30-day graph.
The 24-hour volume of this coin is $1.06B, with a market cap of $5.18B.
In a four-hour graph, the 50-day moving average is sloping downwards; however, in the 200-day moving average, the slope is moving upward, indicating a strong trend.
The RSI of this token is 70, indicating a neutral zone, and from here, there are equal chances that this token can increase or decrease its price before starting its bullish journey.
Shiba Inu
One of the most favorite tokes of the meme community, Shiba Inu, has been ranked 11 in the cryptocurrency world. On June 10 it tried to maintain the price but failed and dropped from $ 0.00002348 to $0.0000223 on June 11. The 24-hour volume is $579.25M, with an almost 21.85% rise. Based on data from CoinMarketCap, seven days of analysis shows a 6.43% drop in the price of Shib, reaching $0.00002228.
The 50-day moving average is currently sloping downward, and Shiba Inu is currently trending negative on the four-hour frame. Since June 6, 2024, the 200-day moving average of the Shiba Inu has been dipping downward, indicating a weak trend. Given the bearish outlook of the 50-day and 200-day moving averages, our price projection for the Shiba Inu in four hours would be negative.
The RSI right now is in the neutral range of 30 to 70, which indicates that there is not a clear trend in the price and that it may remain that way for some time.
Most analyst’s predictions based on the above-mentioned indicators assume the price of this token to be $0.001 by the end of 2024.
DogWifhat
Wif started its journey in December 2023, with a total supply of 998.9 million Wif coins. Like all other coins, Wif also became the victim of market volatility by dropping its price to $2.69 in the last 24 hours. The price drop is witnessed as 1.15% in the daily graph; in the last 7-day graph, it experienced a drop of 16.43%, and in a month’s time frame, it faced a 10.62% drop in price.
Wif is positioned as no 21 among all the tokens, with a market cap of $435.33 million and a 24-hour trading volume is $443.9 million, as per CoinMarketCap data.
The popularity of meme coins like Dogwifhat on Solana is made easy by Solana’s features, like its quick transaction processing and low fees. This makes Solana a top choice for meme coin communities because trading and interacting are simple.
The technical indicator with a 50-day moving average represents a downward trend, and the same is expressed by the 200-day moving average. This indicates a sense of a weak trend and reflects the coin to make further deep corrections.
