Memecoin Leaders Anticipate a 6.5% Decrease in Dominance Within a Week

Shiba Inu finds itself within a descending wedge formation, presently retesting the lower trendline at $0.00000673

If Shiba Inu manages to avoid breaking and closing below $0.00000661, there's potential for a substantial price bounce, possibly up to 41%

The memecoin market as a whole has witnessed a nearly 4% decline in the last day and a significant 9% dip over the past week

Among memecoins, both Dogecoin and Shiba Inu have suffered, with losses exceeding 7% over the past week

Dogecoin's trading volume has surged by an impressive 100% within the last day, while Shiba Inu's trading volume has seen a substantial increase of 63.78%

Dogecoin is currently navigating a descending trendline, with a critical support test at $0.05524. A potential break below this level could lead to a decline to $0.047.