Top 3 meme coins Dogecoin, Shiba Inu and Bonk: Dog-themed memes market cap exceeds $48 billion

Dogecoin founder Billy Markus shared his views on advancements in Artificial Intelligence, early on Thursday.
Shiba Inu token trading went live on a crypto exchange on Wednesday.
Bonk swaps live on Atomiq exchange, users can exchange Bitcoin for Bonk, likely to boost adoption.

Dog-themed meme coins Dogecoin (DOGE), Shiba Inu (SHIB), and Bonk (BONK), among others, contributed to the $48.6 billion market capitalization of the category, as seen on coin tracker CoinGecko.

BONK added 11.40% to its value on Thursday, while DOGE and SHIB prices are nearly unchanged.

Dogecoin founder expresses AI concerns, DOGE could extend gains

Dogecoin founder Billy Markus expressed his views on fast advancing Artificial Intelligence (AI) technology, in a recent tweet on X. The releases by OpenAI and other giants in the industry have led to higher relevance of AI, in the crypto ecosystem as well.

the next few years are going to be interesting

search engines moving toward AI -> people won’t visit websites for info -> companies that rely on search engine traffic will go out of business -> AI will get trained not by journalists but by random comments from you and me -> ???
— Shibetoshi Nakamoto (@BillyM2k) May 22, 2024

Dogecoin rallied past resistance at $0.17449, and hit a high of $0.17461 on Wednesday, May 22. While DOGE retraced on Thursday, a return to the resistance at $0.17449 is likely. There is a key Fair Value Gap (FVG) between $0.17586 and $0.18974. DOGE is likely to rally 6% to the resistance that coincides with the 50% Fibonacci retracement of its decline from March 28 top of $0.22888 to the May 1 bottom of $0.12010.

Once DOGE conquers this level, Dogecoin could fill the Fair Value Gap, and resume its decline.

DOGE/USDT 1-day chart

Looking down, a failure to break past resistance at $0.17449 could send DOGE to the 61.8% Fibonacci retracement level at $0.16165.

Shiba Inu trading live on crypto exchange platform, eyes 13% gains

Shiba Inu could extend gains by 13% from the current level of $0.00002529. The green histogram bars on the Moving Average Convergence Divergence indicator and the Relative Strength Index (RSI) at 53.97, support the thesis of an extended rally in SHIB.

On Monday May 13, SHIB started its uptrend, forming higher highs and higher lows, as seen on the daily timeframe. The meme coin has respected $0.00002476 as a support level for nearly three days now. This coincides with the 23.6% Fibonacci retracement of Shiba Inu’s decline from its March 5 top of $0.00004567 to the April 13 low of $0.00001830.

SHIB/USDT 1-day chart

Looking down, SHIB could sweep liquidity at $0.00002251, the base of the descending triangle formed between March 4 and May 21. SHIB could erase gains from the past 10 days, if it declines to $0.00002251.

SHIB announced an exchange listing in a recent tweet on X.

⚠️ This tweet concludes the thread. Be #ShibaSmart: Always verify links on https://t.co/56VsqOa2jt & our official channels before clicking #SHIBARMY
— Shib (@Shibtoken) May 22, 2024

Bonk and cross-chain DEX partner to enable swaps

Bonk partnered with Atomiq exchange, a cross chain decentralized exchange to enable swaps between Bitcoin and Bonk. The project announced in an official tweet on X that Bitcoin can be swapped for Bonk with zero slippage and counterparty risk on their platform.

It’s a match - the cat is out of the bag - but it’s a dog & it’s taking over the atomiq lab:https://t.co/L0UDmEN4wp was cooking together with @Bonk_inu & now you can swap Bitcoin (on-chain & lightning) to Bonk (& vice versa) with

✅zero trust issues,
✅zero slippage &
✅zero… pic.twitter.com/WLUonEp8dG
— atomiq labs (formerly SolLightning) (@atomiqlabs) May 22, 2024

BONK added 11.40% to its value on Thursday. The meme coin could extend gains by another 11% to resistance at $0.00004032, the 78.6% Fibonacci retracement of its decline from March 4 top of $0.00004800 to the April 13 low of $0.00001212.

BONK/USDT 1-day chart

Looking down, BONK could find support at $0.00003006, the 50% Fibonacci retracement level of its decline from March 4 to April 13.

Share: Cryptos feed

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.