The recent volatility in memecoins has captured the attention of the crypto market, particularly with the rise of newer players like Dogwifhat (WIF) on the Solana blockchain. Meanwhile, established memecoins such as Shiba Inu (SHIB) and Floki (FLOKI) have also made headlines with their upward movements. However, the broader decline in memecoins has left investors unsettled. While some experts interpret this downturn as a strategic shakeout, others speculate whether it signals the start of a larger correction for memecoins.
Can Shiba Inu Reach 1 TL?
Despite recent price drops in leading memecoins like SHIB and FLOKI, market sentiment remains cautiously optimistic. Analysts suggest the dip may be a calculated move by investors to reposition.
Current SHIB Status:
- Price in USD: $0.0000338 (20.18% drop in 24 hours)
- Price in TRY: ₺0.001074
- Previous High: ₺0.001431 (before the decline)
Key Considerations for SHIB Reaching ₺1:
- Requires a 93,000% increase from current TRY prices.
- Alternatively, a 2,879% surge against USD to reach $0.032.
- Given SHIB’s $20.28B market cap, such growth is statistically unlikely without extreme market shifts.
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Floki Coin Technical Analysis
FLOKI has surged 140% in 7 days and 400% in 30 days, peaking at $0.0001396 before stabilizing.
Technical Indicators:
- Moving Averages: Broke above 20/100/200-day SMAs on February 9, confirming a bullish trend.
- Support Levels: A pullback could test the 20-day SMA at $0.00007.
- RSI Warning: Daily/weekly charts show overbought conditions (RSI >70), hinting at potential sharp corrections.
FAQ Section
1. Why did SHIB and FLOKI drop recently?
Profit-taking and market volatility triggered short-term declines, though long-term trends remain debated.
2. Is Shiba Inu a good long-term investment?
High supply (549T SHIB) and reliance on ecosystem growth (Shibarium) make it speculative. Diversification is advised.
3. Can Floki sustain its rally?
Dependent on broader memecoin hype and developer updates. Monitor trading volume and social sentiment.
4. What’s the safest way to trade memecoins?
Use stop-loss orders and never invest more than you can afford to lose.
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Disclaimer: This content is not financial advice. Cryptocurrencies are highly volatile—conduct your own research before investing.
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