Cryptocurrency markets across the globe have crashed to a new low as of 18 June 2022. The market capitalization of global crypto fell below the $1 trillion mark to rest at $844.17 billion, at press time. The price of almost every top coin is worth half or even less than their all-time highs.
Dogecoin (DOGE)
At the time of this analysis, DOGE was valued at $0.05328. Dogecoin famously known as the meme coin dropped by 6.66% in the last 24 hours. Its trading volume has fallen by 35.12% since 17 June. The coin’s market cap has also fallen by 6.89% as per CoinMarketCap data.
Furthermore, the token has deteriorated consistently since August 2021 with most candles closing bearish over bullish. The RSI has been below neutral 50, barely challenging the resistance since May 2022. This is a clear indication that the token is clearly in a bear market. Notably, the last time the RSI was above neutral 50 was in April 2022.
The OBV has been going sideways for most of its recent sessions. Indicators reveal that the momentum is skewed towards sellers.
Shiba Inu (SHIB)
Source: TradingView, SHIB/USDT
Luck hasn’t been on Shiba Inu’s side either as it is currently priced at $0.000007933, post a 3.27% drop. Its trading volume has fallen by 23.80% while its market cap has dropped by 3.31% as per CoinMarketCap data.
In a similar fashion as DOGE, Shiba Inu has also shown a consistent decline in price since November 2021. The market has not been very favorable for Shiba Inu as the token has faced consistent loss over the past six months.
The RSI has been predominantly under neutral 50 since the end of April. The token has been under the bear’s influence. The OBV dropped in December 2021 and has been on a sideways movement for more than six months now.
Chainlink (LINK)
Source: TradingView, LINK/USDT
LINK has dropped by 9.14% in the last 24 hours and at press time, it was valued at $5.90. Its trading volume fell by 25.26%. Its market cap also registered a fall of 8.46%.
Similar to the previous two coins, LINK has also experienced a systematic fall in price since September 2021.
At the time of this writing, RSI rested below its neutral level. Moreover, the reading of OBV clearly suggested that bears were in the driving seat.
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