Have Memecoins Lost the Plot—What to Expect from DOGE and SHIB in November 2024 ?
The crypto markets are trying hard to validate a decent upswing before the end of the month. Meanwhile, the memecoins have also displayed a tendency to close the monthly trade on a bullish note as the most dominant one, Dogecoin is manifesting extreme strength. Besides, Shiba Inu and Pepe prices are failing to generate the required momentum which may have helped them to follow the DOGE price rally. Now that the trade is approaching the monthly close here is what to expect next.
Dogecoin ( $DOGE ) Price Analysis
Dogecoin price is trying to validate a parabolic recovery by rising above the crucial 200-day MA
The price has surged to reach the upper bands of Bollinger while the possibility of a huge explosion remains pretty high
The RSI is incremental which supports a bullish narrative and hence a rise to $0.15 may lead the levels to reach $0.169 in a short while
As the volume has not remained within the required range, the price is believed to remain consolidated above the gains at around $0.17 for a while and later trigger a breakout to the 2024 highs above $0.2
Shiba Inu ( $SHIB ) Price Analysis
The Shiba Inu price has been maintaining a consolidated ascending trend within a rising parallel channel
The token appears to have slightly lost track but the bulls are trying hard to revive a rise beyond the average bands of the channel
The RSI has triggered a bullish rebound while the MACD displays a drop in the selling pressure, being within the positive range
Hence, the SHIB price is believed to maintain a steep ascending trend and eventually test the upper resistance of the channel at around $0.00002 in a short while from now
