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Bitcoin (BTC) is experiencing a highly volatile end to the week, with its price recently dropping to $64,533. BTC‘s daily low has increased the unease among altcoin investors with its ongoing closures below the $69,000 level. So, what is the current situation with popular altcoins?
SHIB Chart Analysis
Shiba Inu, the second-largest meme coin by market value, has been significantly affected by the ongoing BTC downturn. Its price has dropped by 15% today, finding buyers at $0.00002495, which is roughly a 50% retracement from its recent 2024 peak. This situation reminds us that price corrections can be just as sharp as the rapid increases that preceded them.
Especially with meme coins, which can multiply in value over a few days, they can also drop by 20% or more within a few hours. If the sell-off continues, the SHIB price could fall to $0.00001812, with a further support region at $0.00001379.
PEPE Coin Commentary
Everything was great while PEPE Coin surged 742% in 19 days. However, as we mentioned above, such rapid increases often lead to significant losses. Meme coins, being primarily driven by hype, saw investors quickly sell off due to fears of a deepening BTC downturn. Moreover, newer meme coins based on Solana continue to exploit the market volume in this niche.
PEPE Coin could see potential targets in the range of $0.00000589 to $0.00000274 during its decline. Deeper dips could occur within this range.
LUNA Coin Price Prediction
The expected scenario is unfolding, and those accustomed to LUNA Coin’s speculative movements find this quite normal. Having lost $1, the price has reached its initial target of $0.9. Now it is targeting new lows between $0.8 and $0.54. If market negativity is fueled by Fed anxiety and ETF outflows in the coming hours and days, the bottom of the parallel channel that marked the start of the rise could be tested.
LUNC Price Forecast
Similar to LUNA Coin, here too the candles seem to be in free fall. Approaching the previously mentioned region of $0.000128, the altcoin could see deeper lows in the range of $0.000118 to $0.0000934 in the coming hours or days if BTC continues its current trend.
