- Crypto markets face headwinds as top meme coins hit 7-day lows amid Bitcoin’s struggle to reach $28,300.
- DOGE shows resilience with increased trading volume despite price correction.
- SHIB and PEPE experience price swings, with traders capitalizing on market volatility.
Negative pessimism has permeated the last day’s markets, sending Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe (PEPE) to new 7-day lows. The inability of Bitcoin to break beyond $28,300 has been a significant contributor to the decline.
The slowdown is attributable to investors cashing in their gains and worrying about the Federal Reserve’s monetary policy. Investors have been wary as they await more clarification on the Federal Reserve’s inflation and interest rates position.
DOGE/USD Analysis
Dogecoin (DOGE) has retraced from its intra-day high of $0.06135 to its day low of $0.06057 in the previous 24 hours. At press time, DOGE was down 1.47% from its 24-hour high trading at 0.06037.
If negative momentum breaks through the $0.06057 support level, the next level to look for is around $0.059. However, if positive momentum prevails, the price may revisit the $0.06100 barrier level.
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