Meme coins are definitely the main story in this bull run. After March mania when many memes were going through the roof, it looks like the fever is back now.
Following Trump’s win in the US presidential elections last Tuesday, the market started pumping. As Bitcoin and Ethereum prices recovered nicely at over $80k and $3.1k respectively, memes started to surge too.
DOGE’s Historical Patterns Point to Potential Breakout
The DOGE price jumped from $0.15 to over $0.28 during this period. According to popular crypto analyst Ali, this could be just the beginning of a larger move. Looking at historical patterns, DOGE typically consolidates for extended periods – around 1,000 to 1,200 days – before making significant upward breakouts.
Source: X/@ali_charts
Ali’s analysis shows that previous consolidation phases lasted 38 bars (approximately 1,155 days) and 36 bars (1,096 days), each followed by parabolic price movements. The current pattern shows a 42-bar consolidation (roughly 1,280 days) within a descending triangle, with signs of a breakout similar to previous cycles.
The key support level at $0.04909 has proven significant, serving as a stable base for previous uptrends. Based on Fibonacci extension levels and historical patterns, Ali suggests potential targets between $3.95 and $23.26, though such predictions should be viewed cautiously.
Other memes like WIF, FLOKI, and MEW are also among top crypto gainers today. The WIF price pumped over 20% and is now trading above $3, though still below its all-time high of around $4.7.
FLOKI and MEW haven’t been left behind, surging over 15% and over 30% respectively since the election results. Traders now hope that this bull run will continue as memes lead the way.
Read also: Is Polkadot ‘Party’ Starting? Analyst Reveals His DOT Price Targets
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