The meme coin market has ushered in a grand carnival of rising prices, with the total market value breaking through the milestone of 56 billion US dollars in one fell swoop! In this feast, popular meme tokens such as Dogecoin (DOGE), Shiba Inu Coin (SHIB) and the highly anticipated Internet celebrity Pepe Coin (PEPE) have soared in price under the active promotion of large funds, showing an amazing rise.
Technical experts have spoken out, pointing out that Dogecoin is brewing a "wedge breakthrough" market, indicating that the price will usher in a new round of price increases. At the same time, the trading market of Pepe Coin is also very lively, with large transactions frequently appearing, and the single transaction amount easily exceeds 100,000 US dollars, demonstrating the strong vitality of the market.
Data shows that the overall performance of the meme coin market is remarkable. In just one day, the market value soared by 19%, and the market value was in the red. According to the authoritative statistics of Coingecko, Dogecoin rose by 8% in 24 hours, followed by Shiba Inucoin with a 16% increase, and Pepecoin was not far behind, also achieving a 16% increase. In addition, emerging tokens such as DOG on Runes performed even better, with a 23% increase, becoming a highlight in the market.
Arthur Hayes, a well-known figure of BitMEX, also expressed optimistic expectations for the prospects of the meme coin market, predicting that it is about to usher in a big outbreak, and personally invested in Pepecoin. Analysts are collectively bullish, believing that Dogecoin and Pepecoin have taken the lead in blowing the horn of the bull market.
It is worth mentioning that Captain Faibik, a technical analysis expert, specifically pointed out that the chart pattern of Dogecoin has formed a clear falling wedge pattern, and the price has formed an orderly high and low point connection between the two trend lines, which is a very strong bullish signal, indicating that the price is about to reverse and break upward. In summary, Dogecoin is ready to go and is ready to welcome the arrival of the next round of bull market.
