Dogecoin price action is under pressure as global markets are nervous about a possible escalation between Ukraine and Russia. The top 1,000 major wallet investors on Binance Smart Chain have purchased 140 billion Shiba Inu tokens. According to analysts, Axie Infinity looks set to store another 20% as geopolitical headwinds continue.
DOGE looks set to break the previous week's low and drop to $0.1357, according to Filip L. Once DOGE price reaches this level, expect to see a rally that could gain 40% towards the end of the week, the analyst says.
Dogecoin is poised for a solid rally but needs to face the most vital forces first as global markets pressure all assets with an air of risk aversion. According to the analyst, DOGE is likely to decline further towards solid support at $0.1357. Here is the continuation of the analyst's thoughts on the famous meme coin.
When the bulls enter, expect a massive rally that could swing by 40% to $0.19. Dogecoin, the overall cryptocurrency space, is under pressure as it joins global markets, shaken by a pivotal moment in Russia-Ukraine development. As Russian military exercises near the Ukrainian border will end tomorrow, it is a crucial moment for a possible invasion to happen before then. This is keeping markets tense, with overall risk aversion and EU stocks falling more than 3%.
This risk sentiment weighs on DOGE price action as last week's low is tested, using the entry level at $0.1594 from Sunday, where the 55-day Simple Moving Average and key historical level provided a hard rejection to the upside. However, expect this downtrend to continue today and drop to $0.1357 which has proven its support at the end of January. If Russia goes to war with Ukraine and invades, expect it to pull the trigger for investors to flee the markets and cause fires all over the world. For DOGE, this means it could drop another 24%, above the 7% predicted for today, according to the analyst. This would lower the DOGE price action to around $0.1030 where the monthly S1 support level, the red descending trend line and the $0.1000 psychological level are located.
Shiba Inu (SHIB)
According to the information received, the top 1000 major wallet investors on Binance Smart Chain have purchased 140 billion Shiba Inu tokens. After the most recent acquisition, Shiba Inu is the largest altcoin for whales on the Binance Smart Chain. Dogecoin price continues to take losses as the Shiba Inu makes a comeback amid increased demand from whales. Analysts are optimistic about the recovery of the Shiba Inu, noting that the meme coin is showing signs of strength. The largest whales in the Binance Smart Chain network have accumulated Shiba Inu, contributing to the increase in demand for meme coins. Binance coin whales bought Shiba Inu for $4.23 million. Shiba Inu has become the most popular altcoin among Binance Smart Chain whales.
Crypto data intelligence platform Whale Stats has revealed that the top 1,000 major wallet investors on Binance Smart Chain have accumulated 140 billion Shibs. Shiba Inu ranks first among altcoins bought by whales on the Binance Smart Chain, while Ethereum ranks tenth. Whales bought Shiba Inu tokens from most of the drops. Shib reached another important milestone by surpassing 2.7 million followers on Twitter on February 13, 2022. Fans see this as a bullish catalyst for the Shiba Inu price. Analysts evaluated the Shib price trend and predicted a rebound in the meme coin. Analyst Mourya has set conservative targets for the meme coin, foreseeing some downside pressure around $0.000028.
Axie Infinity (AXS)
According to analyst Filip L., Axie Infinity will store another 20% as geopolitical headwinds continue. Axie Infinity price action will drop its market cap by 20% to $44.45 as headwinds continue. Once the low is reached, expect a rally to start with 67% upside potential, according to analyst Filip L. Axie Infinity (AXS) has already broken last week's low and looks set to drop another 20% in search of support against the global headwinds that have swept the markets. Geopolitical tensions are the primary driver today, with several indices in the red and cryptocurrencies on the back foot. Wait for a drop to $44.45 before the bulls step in and start a rally as geopolitical weakens, which could mark 67% of gains by pushing AXS price to $73.62.
When the geopolitical headwind fades, expect a prosperous bull rally, says the analyst. Axie Infinity price action slumped below $60.36 this weekend after a fierce conversation between Biden and Putin on Friday evening. Comments from the Fed's Bullard fueled the fire even more, saying a 50 basis point increase for March was on the cards. This has put a lot of pressure on global markets and cryptocurrencies have sprung up in the risk and penalty corner everywhere. But AXS bulls will need to look beyond the geopolitical chart and identify entry points at the lower end of the current price action as a relief rally could see some solid gains to the upside. While there is not much on the way, the $44.45 level looks like the best entry point as it was held a few weeks ago and is the low of 2022.
However, the analyst is of the opinion that “AXS will drop 20% and the Relative Strength Index will reach, oversold area, so all elements will line up to ignite a rally.” A escalation from a full-blown war would of course only increase the strength of the current upside head and push cryptocurrencies further down. He expects a break of $44.45 that could reduce another 26% of the currently predicted 40% losses. With price action just above $30.00, expect traders to wait for solid, solid confirmation that the worst is over before re-entering AXS price action.