Cryptocurrencies Price Prediction: Dogecoin, PEPE & Quant – Asian Wrap 27 May
|Dog-themed coins SHIB show bullish signs, DOGE faces resistance
Dogecoin (DOGE) and Shiba Inu (SHIB) are down roughly 1% at press time on Tuesday. While the dog-themed meme coins have consolidated for almost a week, Shiba Inu shows recovery signs in the derivatives market and technical charts as Dogecoin faces headwinds.
Pepe Price Forecast: PEPE price action shows a bearish divergence in play
Pepe (PEPE) price shows signs of bullish exhaustion on Tuesday after failing to breach a key resistance level at $0.000016 last week. The price action of the frog-themed meme coin flashes a bearish divergence on the momentum indicators, suggesting a possible trend reversal. Meanwhile, on-chain data shows an uptick in bearish sentiment, with short positions among traders climbing to the highest level in over a month, raising the odds of a potential downside move.
Top Gainers QNT JUP FORM: DeFi tokens rally as top altcoins stall
The broader cryptocurrency market witnessed a slowdown in the top altcoins like Ethereum (ETH), Ripple (XRP), Solana (SOL), and Dogecoin (DOGE), with a 1% to 3% drop in the last 24 hours. Ignoring this, Quant (QNT) maintains a recovery trend, with the layer 2.5 network announcement for institutions and decentralized finance (DeFi). Jupiter (JUP) and Four (FORM) prolong the uptrend with technical signals suggesting breakout gains.
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