1.FTM

Fantom (FTM) has shown a potential upward trend. The token has been trading in a descending wedge pattern for several months, and recently broke through a key resistance level, a sign that its momentum is shifting.

Captain Faibik's chart analysis shows that a breakout of this wedge pattern could signal a reversal of the previous downtrend. Typically, this pattern means that selling pressure has eased, allowing buying activity to take over. When FTM's price breaks through the upper boundary of the wedge, it indicates that buyers are taking control.

This development could be a turning point for Fantom, which had previously seen the coin trade within a tight range for an extended period of time. With the resistance level being successfully broken, the outlook for the coin seems to be getting more positive. The current target price range is $1.60 to $1.70, which represents significant upside from current levels.

While the charts show strong bullish momentum, a potential rebound is not necessarily guaranteed. However, if buying pressure persists, the coin may soon reach the predicted price range.

2. SHIB

Over the past 24 hours, Shiba Inu (SHIB) has staged a remarkable recovery after experiencing an unexpected price drop. The meme coin is showing signs of improvement, with one of its growth indicators, the burn rate, continuing to rise. Its burn rate increased by more than 455%, indicating that the project’s key metrics have been reset.

After the recent decline, SHIB is struggling to recover its previous losses. As of the time of writing, the token has risen by 1.68% and the price has reached $0.00001765. It has also managed to break through the previous resistance level of $0.0000174, which has now turned into support. This shift may indicate a possible rebound in price.

The increase in the destruction rate is also extremely significant. Approximately 2,903,600 SHIB tokens were sent to dead wallets, bringing the total amount burned to over 410 trillion. Meanwhile, approximately 583 trillion SHIB are still in circulation.

For investors, this reset is an important development to watch closely as it may reflect the health of the Shiba Inu ecosystem. Continued improvement in these metrics could lead to more investment in the token and potentially boost its value before long.

3.DOGE

Dogecoin has shown significant movement recently. It is currently priced at $0.109319, up 1.73% in the past 24 hours. Over the past year, Dogecoin has experienced significant growth of up to 85%, outperforming 57% of the top 100 cryptocurrencies during the same period. This speaks volumes about Dogecoin’s relatively strong performance compared to other assets.

In the past 30 days, Dogecoin has closed higher than its daily opening price 16 times, accounting for 53%, which shows continued high price activity. In addition, Dogecoin has high liquidity relative to its market value, making it easier to trade.

Looking at the short-term outlook, the forecast for next week shows a possible downtrend. The predicted price range is between $0.107916 and $0.096179 by October 21, 2024. If DOGE reaches the upper estimate, it would mean a drop of 10.88%.

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