Why Meme Coins Like Dogecoin and Shiba Inu Could Fade Into Abyss After Solana Scams Drain Liquidity
Meme tokens have taken the crypto world by storm, but recent events suggest they might not remain at the top of investor wishlists. In particular, DogeCoin Price action has been lackluster, and liquidity siphoned off by scams on other chains like Solana has driven many traders to reconsider their next moves. While the meme coin hype roars on social media, analysts warn that a deeper correction could lie ahead.
Dogecoin Price On The Edge
Dogecoin Price treads a fine line between potential rebound and looming breakdown. According to one analyst, DOGEs sideways range for the past 10 days is a concern, as the coin has failed to climb above the critical $0.34 resistance. In a recent breakdown, the token dipped under important support, only to hover around $0.25 with little momentum.
Analysis from TradingView reveals that a classic A-B-C corrective pattern might be in play, placing Dogecoin Price in jeopardy if it closes below $0.22. The analyst predicts $0.204 as an invalidation point for any bullish scenario, emphasizing that DOGE must exceed $0.342 to spark a convincing trend reversal. While DogeCoin Price resilience keeps some traders hopeful, the broader markets caution affects even robust tokens.
Dogecoin Chart
Shiba Inu Under Growing Pressure
Another meme favorite, Shiba Inu, is also under strain. Technical reviews from CCN highlight an Elliott Wave pattern suggesting a prolonged ABC correction. SHIB is consolidating within the $0.00001478$0.00001550 zone, aligning with historic support levels.
SHIBUSD Chart: Two scenarios possible
Analysts note that a breakout above $0.00001701 could open pathways for SHIB to climb toward $0.00002285, but a failure to maintain support may trigger a plunge toward $0.00001264 or lower. With RSI near oversold territory on the 4-hour chart, bulls are hoping for a bounce. Still, the downward wedge formation implies that if sentiment worsens, a deeper retracement could occur, risking further capital flight from meme tokens.
Why Meme Coins Could Fade After Liquidity Drains
Market watchers cite the recent Solana scams as a critical factor. When significant liquidity evaporates from one ecosystem, traders often exit high-risk assets like meme tokens in search of safer bets or emerging projects with tangible utility. Although DogeCoin Price and Shiba Inu remain widely recognized, a spate of rug pulls and questionable projects has made investors skittish.
Both DOGE and SHIB share a common challenge: delivering consistent utility that justifies long-term hold strategies. Meme coins typically rely on community-driven excitement, but that excitement can fade fast when broader market sentiment sours. If liquidity continues to dry up due to high-profile scams on chains such as Solana, meme tokens may struggle to keep user engagement and capital inflows afloat.
Remittix: A Viable Alternative With Growing Utility
As meme coins battle volatility, Remittix (RTX) is attracting attention by merging the speed of crypto with the everyday practicality of global banking. The presale has already surpassed $12 million, with over 467 million tokens sold at a price of $0.0628. Unlike meme coins that depend on hype, Remittix champions PayFia model allowing users to convert over 40 cryptocurrencies into fiat and deposit the funds into any bank account worldwide.
Imagine someone in a region with scant banking infrastructure. They can receive or send payments through Remittix, which discreetly swaps crypto for fiat, landing it in the recipients bank without hidden fees or long delays. Meanwhile, businesses can adopt Remittix Pay, an API facilitating seamless crypto acceptance and instant FIAT settlement. This blend of blockchain autonomy and commercial utility stands in stark contrast to meme coins speculative nature.
Remittixs liquidity and team tokens will be locked for three years, and the contract will be renounced at presales end, giving token holders full governance rights. A rigorous smart contract audit found no flaws, addressing a primary concern that plagues many meme-based tokens. Industry experts already foresee a significant upside for RTX, thanks to the platforms real-world relevance at a time when liquidity is fleeing less stable projects.
Which is the Next Big Thing, DogeCoin or Remittix?
The DogeCoin Price saga and Shiba Inus precarious charts illustrate just how fragile meme coin hype can be. While these tokens remain cultural touchstones, recent Solana scams show how quickly liquidity can evaporate when caution trumps enthusiasm.
Without robust fundamentals or clear long-term use cases, Dogecoin Price momentum might falter further, and SHIB may remain in extended correction.
In contrast, Remittix offers tangible solutions that resonate with a broader audience, standing firm in an otherwise shaky market.
Interested in how Remittix might outshine Dogecoin Price predictions? Check out Remittixto see why PayFi could reshape cross-border transactions.Website: https://remittix.io/Socials: https://linktr.ee/remittix
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Text source: Crypto Daily™
