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Although the memecoin mania appears to have taken a pause, the tokens are expected to undertake a fresh rally soon
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PEPE price is closer to triggering a fresh upswing as the token has reached the apex of a consolidation while DOGE & SHIB could also follow
The crypto markets are consolidating after a bullish weekend, while the memecoins are facing some bearish heat. The memecoins like dogwifhat, Bonk, and Honk are surging finely, but the popular ones like Dogecoin, Shiba Inu, and Pepe continue to trade under the bearish influence. While the PEPE price is closer to undergoing a massive price action, the top tokens, DOGE & SHIB, are expected to follow suit.
Pepe (PEPE) Price Analysis
- The PEPE price is approaching the edge of the decisive symmetrical triangle and one last pullback is expected to trigger a massive breakout soon
- The price has reached the apex of the bullish pennant, where the token could test the lower support, causing a small plunge of another 7% to 8%
- The volume has dropped heavily and has reached lower levels, which suggests the levels may rise soon, dominated by the bulls
- Therefore, the PEPE price could drop below $0.000007 a little, which may initiate a massive upswing beyond $0.00002 soon
Dogecoin (DOGE) Price Analysis
- The Dogecoin price has risen back within the key resistance-cum-support zone, making it an important zone to consider.
- For the past few weeks, the price has been utilizing all its strength to enter this zone between $0.17 and $0.18, but the bullish week close pushed the price within this zone
- Besides, the RSI remains within the upper threshold despite some bearish interference, which suggests the bulls continue to remain vigilant and may trigger a healthy upswing very soon
- Hence, the DOGE price is expected to surge beyond $0.25 if the token sustains within the zone until the end of the month
Shiba Inu (SHIB) Price Analysis
- The Shib Inu price broke out from the decisive symmetric triangle in the short term and is consolidating within a narrow range
- The RSI has been hovering around the neutral range for a while, which has caused less price variation within the SHIB price
- Therefore, the price is believed to maintain an ascending trend for a while and reach the local resistance at $0.00003039
- If the bulls hold the levels at this range, then the possibility of the price achieving the resistance zone between $0.00003491 and $0.00003585 could be higher
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