Memecoins like Dogecoin ($DOGE), Pepe ($PEPE), and WhaleFin ($WIF) are poised to break out of their downtrends as Bitcoin (BTC) approaches its monthly expiry, which could lead to heightened volatility. Dogecoin has been experiencing sideways consolidation since November 12, with recent price spikes followed by dips.
Its price is currently facing the descending trendline, and a breakout is expected soon, depending on the performance of Bitcoin. Pepe’s price action on the daily chart shows a strong bullish trend, with the cryptocurrency escaping the descending trendline and experiencing a parabolic surge. The price is currently at the top of a bull flag, and a successful breakout could lead to a measured move to $0.000036.
WhaleFin, on the other hand, is currently within a wedge pattern, and bulls need to push the price up and out of the pattern. The series of lower highs and lower lows must be reversed for a breakout to occur. In the weekly time frame, WhaleFin is currently battling with major horizontal resistance at $3.19.
A close above this level is essential for the memecoin to reach much higher levels in the ongoing bull market. One concern for all three memecoins is the potential for a cross down of the weekly Stochastic RSI indicator lines, which could signal future downside price momentum. However, there is still time over the weekend for bulls to remedy this situation.
Please note that this article is for informational purposes only and is not intended to be used as legal, tax, investment, financial, or other advice.
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<p>The post Breaking Out: Memecoin Race to Beat Bitcoin’s Volatility first appeared on CoinBuzzFeed.</p>
