Memecoins
As Meme Coins Rise, Will DOGE and SHIB Increase 2X?
As the altcoin market’s bullish trend accelerates, meme coins are making a comeback. Amid the recovery, the bull run of major coins like DOGE and SHIB presents long opportunities.
As community-driven coins quickly gain momentum, the upside potential is lucrative for secondary traders. Will rising DOGE and SHIB prices lead to a 2x increase this month?
As DOGE Holds on to $0.12, Will This Meme Coin Skyrocket?
After the bearish reversal from $0.22, DOGE price action creates a resistance trendline and a trend lower. As the fall tests the $0.125 strong demand zone, the reversal chances could rebound soon.
Currently, DOGE price is trading at $0.1252 with an intraday gain of 2.71%. Additionally, price action reveals a break below the 61.80% Fibonacci level, warning of a crash below the psychological $0.10 mark.
However, the intraday gain and weaker price rejection provide a potential bullish reversal opportunity. Despite the bearish context, the meme coin offers an upside potential of 20% to reach $0.1486.
Will SHIB Price Reverse the Negative Cycle for a 30% Upside?
After the rise in early March, the SHIB price trend fails to maintain the upward momentum. The lack of zeal causes the channel to decline in the daily chart and causes the Shiba Inu price to fall by 48% over the last 100 days.
Currently, SHIB price action reveals a lower lower formation with the breakout of the psychological mark of $0.000020. Additionally, the meme coin is trading at $0.0000188 with an intraday gain of 4.37%, creating a bullish candle above $0.000018.
A potential retest of $0.000020 could increase the chances of an uptrend if it appears above the psychological mark. In such a case, an early reversal of the negative cycle may retest the overhead resistance trendline near $0.00002470.