One of the most trending meme coin #Shiba Inu and Doge coin competitor has closed 4 day candle stick on Red now...the downward trend even looks more terrifying.
What's going on, any expert Technical Analyst on this one? Please, I would like to hear our opinions on this one.
I don't apply Technical Analysis to meme coins. They are supported just by hype that can't be predicted by technical indicators or patterns. As Bitcoin is falling, almost all altcoins follow its trend, what is more, meme coins, especially shiba was too overheated, so it must be a correction then. Hype can't last forever, so as there are no more reason for these coins to grow, they will fall.