Crypto market sentiment seems to have turned bullish, with traders showing some confidence. Moreover, the trading volume remains limited below $100 billion, suggesting that a large portion of it is still uncertain about the upcoming trend. Meanwhile, memecoins have gained a significant amount of attention, mostly from new launches. However, tokens like BOOK OF MEME (BOME), which once had great momentum, are now facing a massive sell-off, while top tokens like Shiba Inu (SHIB) have experienced solid gains.

What’s next? Will BOME re-emerge into a strong uptrend, or will the focus shift back to top memecoins like DOGE or SHIB?

BOME price had an outstanding performance in the past trading day, gaining more than 30% and rising more than 80% from the monthly low. At the same time, bearish activity intensified, which has not been seen since the recovery. However, this can be considered a minor correction as BOME price is expected to break through the critical resistance between $0.0111 and $0.0115.

A breakout of the pattern has pushed levels towards a critical resistance area. Although the breakout has failed to materialize, the technical picture suggests that the bullish momentum will continue. The RSI has entered the overbought zone for the first time and the volume has increased significantly. With the increasing bullish pressure, the price is expected to maintain a healthy uptrend.

Furthermore, BOME price is facing similar upward pressure upon breaking above the first resistance zone around $0.008, hence, the price is expected to break out of this range soon. Additionally, SHIB price has been fluctuating at high levels but slowly and steadily, reducing the bearish focus on the cryptocurrency.

SHIB’s long-term price action suggests that the memecoin is on the verge of consolidation. Moreover, the Bollinger Bands have started compressing, suggesting that the price might soon reach the overhead resistance, which could offer an opportunity for a breakout. However, a move above the resistance zone around $0.00003 could push the price above the consolidation zone. Such a move could also attract the required liquidity as the MACD shows rising buying pressure.

Once these levels rise into the positive range, the Shiba Inu (SHIB) price is believed to resume the strong uptrend and set a new yearly high and a new ATH soon.