Memecoin Mania: What’s Next For DOGE and SHIB Price?
Despite the market leader, Bitcoin, showing a sideways trend for almost a week, the market has witnessed massive price action in altcoins. On the other hand, Memecoins have recorded a strong bullish uptrend lately as these coins have displayed a significant move in their respective price.
The leader of Memecoins, Dogecoin, has emerged as one of the top performers of the day as it has gained over 6% in value and has cumulatively gained over 24% in the past month. Shiba Inu coin, following the trend, recorded a gain of around 3% in the past day and a total of approximately 15% compared to the previous month.
Dogecoin Price Analysis:
The DOGE price was seen trading in a narrow space of $0.05733 and $0.0600 for a brief period, following which the price gained momentum and broke out of the upper level. The price continued to gain momentum but was rejected at $0.07525.
After that, the Doge coin lost momentum and underwent correction. After trading in a consolidated range between $0.0660 and $0.06931, the coin regained momentum and broke out of the level, indicating a strong bullish influence.
Further, the price was again rejected at its key resistance level of $0.07648, following which the price has been hovering close to it.
Shiba Inu Price Analysis:
The SHIB price traded sideways for over two weeks, following which the memecoin gathered bullish influence and broke out of it. The price then followed the footsteps of the category leader and surged over 12%, after that, the price was rejected at $0.00000813.
The coin then traded in a consolidated range between $0.00000758 and $0.00000813 for over a week, after which the price successfully broke out of it.
Recently, the price attempted to break out of its key resistance level at $0.00000850, but the price was rejected, after which it experienced a minor correction in its value.
#MemeCoinBuzz #Dogescoin #SHIBCommunity #BTC $BTC $ETH $BNB