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🔥💥DOGE and SHIBA Meme Coins Are Preparing for the Next 100% Rise
After a week of underperforming, the #DOGE token, the largest meme coin, lost 20% of its market value. This sharp correction led to a big drop that sucked the candle in, undermining the 24% increase last week..
On the daily chart, the decline comes in an ascending channel pattern, while the supply wave comes into play on the general trend line. Also, the decline cracks within the $0.18 support zone and warns of continued decline.
Will DOGE Price Meme Coin Take a Bullish Break?
On a similar path to Dogecoin, the second largest meme coin, Shiba Inu recorded a sharp drop of 12.52% this week. This correction invalidates the 9.51% increase last week, and the coin fails to stay above the psychological mark of $0.000030.
However, the meme cryptocurrency enters a phase of shrinking volatility, which leads to a triangular pattern on the daily chart. Given the prevailing uptrend in the picture, the meme coin price action shows a bullish flag.
Also, the #SHIB price stands on the baseline, which increases the likelihood of a reversal of the upward trend. In the event that the uptrend manages to get rid of the supply wave and violates the overhead trendline, the meme coin is ready for a surge.
According to the price chart, the meme coin could reach the $0.00005401 mark by the end of this month.
