🔥Must See💥 Memecoin Price Analysis: Is It Time For DOGE, PEPE, SHIB To Rise?
As the largest memecoin, DOGE price is experiencing a steady increase in supply amid a general slowdown across the market. This has resulted in a resistance trendline and a strong secondary downside wave within a descending channel.
While sellers are checking the key support area of $0.1430 for bull dominance, chances of a breakout are increasing. However, an optimistic eye would like to see a double bottom bull reversal as the 4-hour RSI line shows a bullish trend.
If the bullish momentum rises in the support area, DOGE price can challenge the $0.185 mark or the 50% trend-based Fibonacci level. On the other hand, a break below $0.1430 will test the $0.1288 level.
Shiba Inu Trapped in a Triangle
After Dogecoin, Shiba Inu holds the second most dominant position in the memecoin industry. With a market cap of $14.8 billion, the price of#SHIBhas fallen by 22% in the past seven days.
Currently, the memecoin is testing the support trendline of a triangle pattern formed by 4 bear candles on the 1D chart. However, the low range candlesticks close to the support trendline accompanied by a decreasing volume increase the chances of a bull trend reversal.
If the reversal bounce results in an uptrend, the SHIB price could reach $0.00004382. On the other hand, a downtrend could lead to a retest of $0.00001833.#PEPEstruggles after retest
With a quick recovery of 21% last week, PEPE is performing like a dark horse in the memecoin industry. The frog-themed coin is struggling for a boost on a retest as the resistance line rises above the trendline.
PEPE failed to break above the 50% Fibonacci level of the $0.000007662 and $0.0000080 resistance areas, showing an intraday decline of 4.19%. Considering that the upward trend has given PEPE an extra boost, the possibility of breaking through $0.0000080 exists in October.
In this case, the upward trend may reach the $0.000010 level.
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