LIVE
๐ฅ๐๐Meme Coin Price Analysis: Is the big rise imminent for DOGE, PEPE and SHIB?
With Bitcoin struggling to find bullish momentum nearly a week after its price halved, meme coins present a better opportunity. With a bullish rally on the move and others offering trend reversals, smart investors are hoping for a bullish in 2024.
Meme Money Aims to Break the Triangle
with a significant market capitalization of $21.61 billion, Dogecoin is the leading memecoin and the 8th largest by Sunday size. it continues to be an altcoin. DOGE, which is currently trading at $ 0.1501, has experienced a significant decline of 0.22% from its monthly high of $31.83.
However, the increased interest of institutional investors in meme coins could potentially lead to a strong recovery for #Dogecoin If the positive cycle gains momentum, an optimistic breakout rally can return the DOGE to the important $0.20 mark, indicating a strong upward movement.
Shiba Inu (#SHIB )
Ranked as the second largest meme coin after the Doge, the SHIB price trend exhibits a triangular pattern on the 4H chart. With a positive cycle struggling for a breakout, Shiba Inu prepares a double-dip reversal at the 61.80% Fibonacci level.
Also, the MACD indicator is on the verge of bullish transition, increasing the probability of a break. Even emerging market sentiment is predicting a potential reversal in SHIB prices.
In the event of a bullish burst, the SHIB price may reach the $ 0.00004382 mark.
#pepe (PEPE)
Despite a broader Sunday weakness, this frog-themed meme coin is likely to have a bull run with this breakout rally. With a market capitalization of $ 3.18 Billion, PEPE is in the top 50 altcoins. The recovery rally in PEPE, which is trading at $0.000007550 and had a 7.31% jump overnight, is giving way to a channel breakout rally.
Since the breast coin forms a double peak at the 50% Fibonacci level, the sides are waiting for the reversal after the retest. Optimistically, the breakout rally could reclaim the psychological mark of $0.000010.
