A popular analyst has shared an optimistic forecast for MEW, a pet-themed memecoin on the Solana blockchain, sparking excitement among crypto traders. This is accompanied by insights into the popular Dogecoin (DOGE) and Shiba Inu (SHIB). The latest market trends indicate bullish potential for these digital assets.
How will MEW operate in the future?
The analyst, known as Bluntz, informed his 283,800 social media followers about MEWâs recent trading pattern, which resembles a symmetrical triangle. This suggests an imminent bullish trend. If MEW breaks above the current resistance, the price is likely to reach $0.011, indicating an upcoming bullish trend.
Is Dogecoin a Smart Investment?
Bluntz cautioned against ignoring Dogecoin, calling it a major player in the cryptocurrency space despite the rise of many new meme coins. He pointed out that DOGE has strong upside potential, especially when compared to the performance of Bitcoin, noting its ability to increase in price by up to 30x in a matter of weeks during periods of strong market activity.
Bluntz also noted that Shiba Inu recently broke above resistance, which could signal the end of the downtrend, thus improving the chances of growth in early 2024. He said that for those who missed out on DOGE, SHIB or FLOKI could be viable investment opportunities.
MEW is currently trading at $0.00904.
Dogecoin price is $0.145, up more than 7% in the past day.
Shiba Inu is trading at $0.000019.
Traders are encouraged to be vigilant about market volatility and technical indicators. Analyst predictions, while positive, should be taken with caution as market dynamics can change rapidly.
