In the dynamic crypto market, memecoins have swiftly seized the spotlight with their rapid ascent. The current memecoin frenzy, led by the frog-themed PEPE, reveals strong potential for these tokens to stage a remarkable comeback next week. Amid Bitcoin’s volatility, meme-based currencies like PEPE, SHIB, and DOGE have consistently surpassed expectations and demonstrated resilience against market challenges. Consequently, traders anticipate a surge in meme token values in the upcoming week.
What is Waiting For Memecoins Next?
The frog-inspired digital currency, PEPE, has leaped into the spotlight in the cryptocurrency realm with an astonishing 1,500% increase in merely two weeks. Both investors and traders are rushing to acquire the meme-based coin, which has now entered the top 50 cryptocurrencies by market capitalization, surpassing the one-billion-dollar threshold within weeks. Analysts expect the memecoin rally to continue next week with minor volatility as Bitcoin finds no support from market bulls.
PEPE Price Analysis
The recent upswing of Pepe is partially credited to Binance’s decision to feature both Pepecoin and Floki Inu (FLOKI) on its “innovation zone” platform. This action by the well-known exchange indicated a degree of mainstream recognition for these meme-based currencies, which probably played a role in boosting their appeal among traders.
As of writing, PEPE price trades at $0.0000026, declining over 5.3% in the last 24 hours. After facing resistance near $0.0000045, the PEPE coin faced downfall and dropped below its 38.6% Fib channel. On the hourly price chart, PEPE has made a steep decline and is currently trading below EMA-50, hinting that bears are gaining control.
In the next few days, the PEPE token may decline more to its support level of $0.00000183 if it fails to surge above $0.000003.
Dogecoin Price Analysis
Major investors within the Dogecoin network have steadily accumulated DOGE tokens since April 5. According to information from the cryptocurrency analytics provider Santiment, DOGE whales possessing between 10,000 and 100,000, as well as 100,000 and 1,000,000 DOGE tokens, have acquired close to 200 million Dogecoins.
On the daily price chart, DOGE has taken support near $0.075 after falling heavily due to PEPE’s rise. DOGE price is currently trading at $0.077, dropping nearly 2.7%. The RSI line has started to climb near its midline, showing the hope of a bullish reversal next week.
If Dogecoin breaks above $0.08 and overcomes its resistance at EMA-200, it will continue a bullish surge next week to $0.09.
Shiba Inu (SHIB) Price Analysis
After witnessing a sideways trading session for several weeks, SHIB’s price has finally given a clear move as its price broke below its critical support level. SHIB’s price lost its support near $0.00000976 as bears emerged to short the trade.
SHIB’s price is currently hovering near $0.00000943, dropping over 5% from yesterday’s rate. If bulls don’t take charge immediately, SHIB’s price will continue to decline and reach its bottom level at $0.0000086.
The post appeared first on Coinpedia
