Can the meme coins bounce back faster than most of the other cryptocurrencies?

Bulls are slightly recovering their positions, according to the CoinMarketCap ranking.

Top coins by CoinMarketCap

DOGE/USD

DOGE could not follow the bounceback of most of the other coins with a decline of 1.34% over the last 24 hours.

DOGE/USD chart by TradingView

DOGE keeps trading sideways after the false breakout of the formed support level at $0.07 on the daily chart. The volume has declined, which means that the meme coin needs more time to accumulate power for a further sharp move.

In this case, sideways trading between $0.0850 and $0.0950 is the more likely scenario for the next few days.

DOGE is trading at $0.0879 at press time.

SHIB/USD

Unlike DOGE, the rate of SHIB has increased by 1.09%.

SHIB/USD chart by TradingView

Despite the growth, SHIB is trading close to the support level at $0.0000110, which means that buyers still lack power to start the short-term growth. If sellers' pressure continues and the daily candle closes near $0.000011, there is a possibility of expecting the decline to the $0.000010 mark soon.

SHIB is trading at $0.00001224 at press time.