The memecoin industry recorded its most optimistic month in more than two years in March,
They are led by Dogecoin (DOGE), Shiba Inu (SHIB), Pepe (PEPE), and Floki (FLOKI).
According to the latest market data, the total valuation of the meme currency industry is approximately US$68 billion, with an average daily market value of approximately US$8.3 billion.
With Bitcoin leading the crypto bullish outlook with significant cash inflows, the altcoin and memecoin sectors are expected to see further gains.
Furthermore, it has been determined that small-cap altcoins and meme coins are more volatile than Bitcoin and large-cap altcoins.
Popular Meme Coins to Watch
Shiba Inu
As the largest memecoin based on the Ethereum network, Shiba Inu (SHIB) has evolved into a utility-based altcoin through Shibarium’s second-layer scaling solution. With over a dozen web3 projects deployed on the Shibarium network, the overall SHIB burn rate has increased significantly, thus enhancing the overall bullish outlook.
The price of the Shiba Inu is on the cusp of a 2x increase in April, according to technical analysis from popular cryptocurrency analyst Captain Faibik. The cryptocurrency analyst noted that Shiba Inu price has been consolidating in a symmetrical triangle pattern and may eventually see a bullish breakout.
FLOKI
$FLOKI has been consolidating in a bullish pennant and is poised for another bullish rally
Floki (FLOKI) is the second most valuable meme coin, presumably backed by Elon Musk tweets.
The Meme token has gained nearly 1,000% in the past few weeks, almost retesting its previous all-time high (ATH).
According to Captain Faibik, FLOKI’s price is about to make a new bullish breakout, entering a price discovery phase.
PEPE
This frog-themed meme coin has a market capitalization of approximately $3.5 billion, making it the fourth most valuable meme coin. The small-cap meme coin has also been forming a symmetrical triangle pattern, which is likely to end in a bullish breakout.
Despite intense competition from Solana-based meme coins, PEPE’s price was well-positioned for a bullish breakout in April.
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