2024-12-21 16:37:25

Shiba Inu, Bonk, and Pepe rise could be a dead cat bounce

Meme coins like Shiba Inu, Pepe, and Bonk also likely jumped as crypto investors bought the dip after they dropped for three consecutive days.

A potential risk for the ongoing rebound is that this could be a dead cat bounce. A DCB is a situation where falling asset prices stage a brief rebound and then resume the downward trend.

For example, Shiba Inu dropped by 15% on Dec. 9 and by 1% on the following day. It then formed a DCB by rising by 6% on Dec. 11 and then resumed its downtrend, reaching a low of $0.00001855 on Dec. 20.
The other potential risk for these coins, especially Shiba Inu, is that some of them have formed a head and shoulders chart pattern.

An H&S pattern is a popular bearish reversal sign made up of a head, two shoulders, and a neckline, which is at $0.00002280. That is a sign that the coin may continue the downtrend.
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SHIB8,52%

BONK11,23%

PEPE19,42%

CAT2,51%

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SuiCraft

· 2024-12-22 07:32

thank you for the information 👍💎

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Ryakpanda

· 2024-12-22 01:29

All in All in 🙌

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Fav17

· 2024-12-21 20:43

But it flew down...

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Goldseeker

· 2024-12-21 19:36

Allstars❤️to da moooooon

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Miss_1903

· 2024-12-21 18:39

Thank you for the information 🍀🍀🍀

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KatyPaty

· 2024-12-21 17:25

To Da Moon 🌕

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ChineseFleet:Lisa

· 2024-12-21 16:43

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