Floki Inu Soars to New Heights in the Cryptocurrency Market
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2022-05-06 | Selina Mathew
Memecoins made a push towards April's peak last week. The market has since reversed and has continued to make lower lows. The price action this week is now aiming to set a new low for the month of May.
In this technical analysis, we'll examine at our favourite meme currencies in the 4-hour time frame: DOGE, SHIB, BABYDOGE, CATE, FLOKI, and SAITAMA.
DOGE/USDT
DOGE/USD 1 DAY PRICE CHART - SOURCE - COINMARKETCAP.COM
DOGE has printed a lower high at $0.1620 on the 4-hour time period. DOGE, on the other hand, has been making lower lows since then.
SHIB/USDT
SHIB/USD 1 DAY PRICE CHART - SOURCE - COINMARKETMAP.COM
SHIB failed to close above the area of interest in last week's study in the 4-hour time frame.
BABYDOGE/USDT
In 1875, the high of May was rejected. Since then, we've been aiming for the April low.
CATE/USDT
CATE is still printing lower highs and lows. CATE has gained a lot of traction since then.
FLOKI/USDT
Looking at our most recent price action, we can see that FLOKI has no significant support. The bulls must intervene or anticipate lower lows to continue.
SAITAMA/USDT
SAITAMA's most recent foray into our field of interest. SAITAMA is becoming more neutral.
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