Memecoins Recover: Here's What Happens Next for DOGE, SHIB, PEPE, WIF, and BONK Prices
The post Memecoins Recovering: Here’s What’s Next for DOGE, SHIB, PEPE, WIF, and BONK Prices appeared first on Coinpedia Fintech News
The weekend trading remained very bearish for the entire crypto space, which even included memecoins. The top 5 memecoins, Dogecoin, Shiba Inu, Pepe, dogwifhat, and Bonk, are trying to rise above the bearish influence. Therefore, the buying pressure is slowly increasing and thus memecoins are about to gain mainstream attention soon.
Dogecoin ($DOGE )
Dogecoin price is stuck around crucial support after bouncing off levels below. Regardless of the downside move, the price remains stuck above $0.1, indicating that the top memecoin is ready for the next price move.
DOGE price has been trading inside a descending triangle, and the recent downtrend has pulled the levels below the support. However, the RSI has bounced off the lower support and is heading towards the median, which could push the levels inside the triangle higher and push it to the top. As the price reaches the top, it could lead to an upward bounce and a rise above $0.12.
Shiba Inu ($SHIB )
Shiba Inu price has been trading inside a bearish parallel channel and has been stuck along the channel’s intermediate ranges. However, the second-largest meme coin is close to making an upward bounce and could head towards the upper resistance very soon.
The price is trying hard to break the channel’s mid-bands but is constantly failing to do so. The MACD is about to turn bullish as the selling volume has largely subsided. A bullish crossover could force the price to maintain a healthy rise towards the local resistance at $0.0000188, which coincides with the upper resistance of the channel. If the bulls show strength, a breakout could be imminent.
PEPE (Frog)
#pepe⚡ price has fallen below the pivotal support level but shows a high probability of the uptrend continuing. Technical indicators have turned bullish and hence the price is expected to maintain a healthy bullish consolidation to reach the top and trigger a breakout.
$PEPE price has once again risen above the crucial 200-day moving average levels in a short time, indicating that the token is ready for a quick rally. The price is expected to maintain a healthy uptrend and reach the top of the ascending triangle and hence is believed to lead to a breakout. Besides, the MACD is also close to undergoing a bullish crossover, indicating that buying volume may soon increase and maintain the trend.
Dog Hat (WIF)
Similar to other currencies, #WIF price continues to trade in a bearish pattern and is believed to trigger a rebound from a crucial range. Despite the recent pullback, the price has held the pivotal area and thus a 30% rally could be in the offing.
The RSI has once again caused a bullish divergence as the cryptocurrency continues to maintain a healthy upside, overcoming the bearish move. Therefore, the price is expected to enter the resistance zone between $2.15 and $2.29. If the bulls remain within the range, a rise above $2.45 could be imminent.
BONK
Due to its slight divergence from the market trend, the price of #BONK🔥🔥 is feared to fall below the crucial support level. After missing the crucial symmetrical triangle support, the price has been stuck along the local support level. However, bearish flags have been flying over the cryptocurrency, and thus, a 20% pullback seems imminent.
The RSI is holding along the lower support and the Gaussian channel has just turned bearish. Therefore, BONK price is feared to slide below the support at $0.00001994, which could lead to higher levels towards $0.00001407 if bulls remain negative. Hence, traders need to be cautious about Bonk price rising.
Conclusion: This is not investment advice, but rather to spread knowledge and benefit everyone.
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