ApeCoin (APE) price is following a dangerous trajectory that could lead to a steep correction if things don’t calm down. Adoptions of Dogecoin (DOGE) and Shiba Inu (SHIB) continue to increase day by day. So how will all these developments affect prices? What are the expected levels for cryptocurrencies? As Kriptokoin.com, we convey the price analysis and analyst opinions for Apecoin, Doge and SHIB.
ApeCoin (APE)
ApeCoin price has set four highs and three lows since April 20, creating an all-time high of $20.29. Combining these swing points using trend lines creates a descending wedge pattern. This technical model predicts a 17 percent drop, obtained by measuring the distance between the initial high and low swing. While ApeCoin has not breached the lower trendline of the descending wedge, traders can predict that it could happen in the next leg at roughly $19.89. Therefore, adding 17 percent to this level reveals a target of $16.47. What supports the bearish thesis is the bearish divergence between the higher highs of the price and the lower highs of the Relative Strength Index (RSI). This technical formation shows that while the asset’s value is rising, the momentum is decreasing. The resolution of this setup is a minor correction in line with the falling wedge formation.
Investors can expect the price of ApeCoin to decline by around 18 percent from its current position to $16.47. While this move is short-term bearish in outlook, for in-between buyers, this is an excellent opportunity to save. Based on the trend-based Fibonacci extension, the rally from $16.47 will likely push ApeCoin price to an all-time high of $24.57. In total, this increase will provide a 50 percent gain. While searching for ApeCoin price, a spike in selling pressure would force it to close a four-hour candlestick below $16.47, invalidating the bullish thesis. Such a development would open up the possibility of further collapse of APE at $14.43 in market cap.
Shiba Inu (SHIB)
Recently, many companies have been rapidly adding popular cryptocurrencies to their payment options. Finally, Jamestown, the company that focuses on real estate investment and management, announced that it has partnered with BitPay. With this partnership, the company will accept Shiba Inu and many cryptocurrencies. This was a very important step for the Shiba Inu, who wanted to get rid of the memecoin tag. Shiba Inu has found real-world use cases in fast food restaurants and several businesses that have partnered with crypto payment platform NowPayments or BitPay. Shiba Inu payments are accepted by real estate businesses worldwide, including a company in Santa Clara del Mar, near Buenos Aires. According to
SHIB supporters, all these developments may also increase the token price. According to analysts, the Shiba Inu price trend is similar to 2021. Analysts are evaluating the Shiba Inu price and predicting that SHIB will experience an upward momentum and increase in price..
Dogecoin (DOGE)
Jamestown, a company focused on real estate investment and management, alongside SHIB, DOGE. announced its acceptance. Dogecoin could witness a massive surge in activity and demand as real estate giants allow their owners to pay rent in crypto. Analysts announced that they predicted a rally for DOGE. Thanks to this collaboration, the real-world utility of cryptocurrencies such as Shiba Inu and Dogecoin has increased. Michael Phillips, President of Atlanta, Georgia-based real estate firm Jamestown, believes crypto will be a big part of Jamestown’s plans to implement technology-based innovation through virtual integration. The real estate giant has announced that they will not hold cryptocurrencies, but will instead accept payments through a collaboration with BitPay.
Analysts evaluated Dogecoin price trends and predicted a recovery. Analysts believe that the DOGE price could enter a bull run like 2021. The meme coin’s price trend is similar to the 2021 price rally and a move towards $0.16 could confirm the bullish prediction.
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