Shiba Inu, Memeinator price forecast as crypto eyes bounce

    What was a brutal week for most altcoins, particularly political meme coins, also saw Shiba Inu (SHIB) extend its price decline to levels last seen in March. Meanwhile, Memeinator (MMTR) also plummeted as its price reached a new all-time low.

    But as Bitcoin shows resilience above $60,000 and PolitiFi meme coins show signs of recovery, could SHIB price reclaim upside momentum? And what is the price outlook for MMTR?  

    Cryptocurrency market outlook

    Regulatory news, Bitcoin sell-off and Solana ETF news highlighted last week.

    Also notable was the US presidential debate and mega political donations from industry players. In regulatory news, SEC suing Consensys and Coinbase filing a lawsuit against SEC and FDIC stood out.

    Meanwhile, German and US governments selling millions of dollars’ worth of Bitcoin impacted BTC price. The US presidential candidates’ debate saw political meme coins plummet as markets reacted.

    At the moment, Bitcoin, Ethereum and top meme coins are largely flat on the day as investors eye next week. Key events to watch out for, as Invezz highlights in this news report, include Ethereum ETFs, macroeconomic reports, and EU’s MiCA regulations.

    What could these developments and the overall market sentiment mean for Shiba Inu and Memeinator? 

    Shiba Inu price forecast

    Shiba Inu price fell sharply as downward pressure hit political meme coins and Lido DAO price dumped amid SEC’s lawsuit against Consensys.

    Currently, SHIB price is down over 33% in the past month. The bearish sentiment that still surrounds the meme coin market suggests further declines are possible.

    As the chart below shows, Shiba Inu price is poised at a key level. A considerable downward movement could send SHIB lower, which is what the weekly RSI and MACD indicators suggest.

    Shiba Inu price on weekly chart. Source: TradingView

    However, potential crypto market shifts around Ethereum ETFs and a Bitcoin bounce in July could help flip SHIB positive. Crypto analyst Ali Martinez points out that July has historically been positive for BTC after a negative June.

    Memeinator price prediction

    Memeinator (MMTR) is one of the meme coins to nosedive this past week. After reaching its all-time low of $0.02683 on June 1, 2024, MMTR has slipped to $0.004195 on June 30 per CoinGecko data.

    The market struggles for Memeinator reflect the broader crypto ecosystem, with the past month particularly tough amid a confluence of negative catalysts.

    But while price movement has been downhill, the Memeinator has shown great strides with key project milestones.

    By combining meme culture and AI, the Memeinator offers a game-changing approach to meme utility. The Meme Warfare game, staking and NFT integration are all on the Memeinator roadmap.

    That means resilience at current support levels and a flip within the ecosystem could buoy MMTR price. Reclaiming the ATH reached in early June will strengthen this outlook.

    The post Shiba Inu, Memeinator price forecast as crypto eyes bounce appeared first on Invezz

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