The meme coin market has experienced a bullish rally over the past few weeks, coinciding with a slowdown in the altcoin and Bitcoin markets. Notably, the return of Roaring Kitty ignited a bull run for GME, a SOL meme coin. Consequently, investors are now curious about the upcoming price trend of other leading meme coins, including Dogecoin, Shiba Inu, and Pepe.
Dogecoin Price Analysis
Dogecoin turned downward and fell below the moving averages, indicating that its price might stay within the $0.12 to $0.15 range for a while. As of writing, DOGE price trades at $0.146, declining over 1% in the last 24 hours.
The downsloping 20-day EMA ($0.15) and the RSI in negative territory suggest that bears have the upper hand in the near term. The DOGE/USDT pair could decline to $0.138 and then to $0.12.
A strong rebound from $0.12 would indicate that bulls are buying at lower levels. The next trending move is likely to start with a break above $0.15 or below $0.12. Until then, random and volatile range-bound action may continue.
Shiba Inu Price Analysis
SHIB price declined from $0.000026, consolidating around the crucial level of $0.0000225. This level is crucial as it will likely see significant action from both bulls and bears. As of writing, SHIB price trades at $0.0000231, declining over 2.2% in the last 24 hours.
If the SHIB price breaks above the resistance channel, we might see a surge toward $0.00002898. However, bears will strongly defend that level.
However, if SHIB falls below the current price level, it might head toward $0.00002 for a retest. A decline below that level might send the price toward $0.000012.
Pepe Price Analysis
Pepe rebounded off the support line and surged above the 20-day EMA ($0.0000129), showing positive sentiment as traders buy on dips. However, bears remain active around 23.6% Fib channel.
Bulls will attempt to push the price to the overhead resistance of $0.000015, where strong selling by bears is expected. If bulls succeed, the PEPE/USDT pair could begin the next uptrend toward $0.000017.
However, if the price turns down and breaks below the support line, it will invalidate the bullish pattern. The pair may then drop below $0.00001.
GameStop Price Analysis
In the last few hours, the price of GME has been dropping due to a selling pressure above the $0.02 mark. Currently, GME is trading at $0.0184, having declined over 5% in the past 24 hours.
The 20-day exponential moving average (EMA) at $0.0182 is slightly declining, and the relative strength index (RSI) is aiming for a decline below the midline, signaling that sellers have the upper hand. The GME/USDT pair might decline to its breakout point of $0.013, testing buyers’ patience.
However, this bearish outlook could change if the price rebounds and holds above the EMA20 trend line. In such a scenario, the pair might reach $0.032 and aim for a new all-time high (ATH).
Credit: Source link