Memecoins Consolidating: DOGE, PEPE, & SHIB Prices to Enter Buying Zone Shortly

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The post Memecoins Consolidating: DOGE, PEPE, & SHIB Prices to Enter Buying Zone Shortly appeared first on Coinpedia Fintech News

The crypto markets are in the middle of a fresh bullish spell as the top tokens have been manifesting acute strength, majorly Bitcoin. With this, Ethereum’s price also rose above $3000 but failed to reach $4000, even though the BTC price managed to mark new highs close to $93,500. Here are the altcoins which are required to be closely monitored until the end of the week. 

Dogecoin (DOGE) 

The Dogecoin price has revamped a strong ascending trend after rising above the consolidation around $0.36. Meanwhile, the bears seem to have some room to expand, as the bulls do not appear to have gained the required strength. A rise beyond the pivotal resistance may invalidate the bearish trajectory; otherwise, it may offer a good buying range. 

The daily chart of DOGE suggests the price has just broken out from the bullish pennant. The RIS suggests a rise in bullish momentum but the MACD suggests a drop in the buying volume, which may further compel the price to face a small pullback. However, this could be a good buying opportunity at around $0.35, as a breakout is expected to kick-off a strong rise to the ranges above $0.6, probably before the end of 2024. 

Pepe (PEPE)

PEPE price broke from the decisive symmetrical triangle and surged by more than 125% to mark the interim highs at around $0.000024. Since then, the price has undergone a descending consolidation but the bulls have managed to hold back the rally, preventing excessive price drain. Therefore, once the bulls regain their dominance, the token is believed to revamp a strong ascending trend. 

As seen in the above chart, the PEPE price rally broke out of the multi-month consolidation and surged above the ascending trend line. This has raised the possibility of a bullish continuation as the price is trading within a bullish pennant. The price is believed to remain consolidated for another couple of days, which includes a slight pullback below $0.00002, which may further trigger a strong rebound beyond $0.00003. 

Shiba Inu (SHIB) 

The traders had shifted their focus away from this popular memecoin as the volume has remained a major constraint. A close observation suggests the selling volume in the past week has been more than that of the buying volume that triggered a 50% rise. This suggests the bears are vigilant over the growth of the token, which could not be a good sign for a healthy rally.

As suggested in the above chart, the SHIB price remains consolidated within a decisive symmetrical triangle. The token possesses both bullish and bearish opportunity as the RSI is displaying a higher high but the OBV undergoes a pullback. Hence, if the SHIB price faces a pullback, the support at $0.00002 may offer a base to trigger a rebound; otherwise,  a bullish breakout would elevate the levels close to $0.00004. 

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  • bitcoinBitcoin(BTC)$26,051.000.02%
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  • rippleXRP(XRP)$0.521.75%
  • usd-coinUSD Coin(USDC)$1.00-0.04%
  • cardanoCardano(ADA)$0.260196-0.85%
  • dogecoinDogecoin(DOGE)$0.0631641.33%
  • tronTRON(TRX)$0.0774861.09%
  • polkadotPolkadot(DOT)$4.501.99%
  • litecoinLitecoin(LTC)$65.301.07%
  • wrapped-bitcoinWrapped Bitcoin(WBTC)$26,065.000.00%
  • bitcoin-cashBitcoin Cash(BCH)$189.59-0.41%
  • uniswapUniswap(UNI)$4.58-0.60%
  • stellarStellar(XLM)$0.1229001.01%
  • moneroMonero(XMR)$141.101.34%
  • aaveAave(AAVE)$56.961.06%
  • havvenSynthetix Network(SNX)$2.06-0.07%
  • tezosTezos(XTZ)$0.701.39%
  • eosEOS(EOS)$0.581.13%
  • theta-tokenTheta Network(THETA)$0.641.26%
  • bitcoin-cash-svBitcoin SV(BSV)$29.94-1.07%
  • nemNEM(XEM)$0.025210-0.32%
  • bitcoinBitcoin(BTC)$26,051.000.02%
  • ethereumEthereum(ETH)$1,652.21-0.04%
  • tetherTether(USDT)$1.00-0.08%
  • binancecoinBNB(BNB)$217.290.72%
  • rippleXRP(XRP)$0.521.75%
  • usd-coinUSD Coin(USDC)$1.00-0.04%
  • cardanoCardano(ADA)$0.260196-0.85%
  • dogecoinDogecoin(DOGE)$0.0631641.33%
  • tronTRON(TRX)$0.0774861.09%
  • polkadotPolkadot(DOT)$4.501.99%
  • litecoinLitecoin(LTC)$65.301.07%
  • wrapped-bitcoinWrapped Bitcoin(WBTC)$26,065.000.00%
  • bitcoin-cashBitcoin Cash(BCH)$189.59-0.41%
  • uniswapUniswap(UNI)$4.58-0.60%
  • stellarStellar(XLM)$0.1229001.01%
  • moneroMonero(XMR)$141.101.34%
  • aaveAave(AAVE)$56.961.06%
  • havvenSynthetix Network(SNX)$2.06-0.07%
  • tezosTezos(XTZ)$0.701.39%
  • eosEOS(EOS)$0.581.13%
  • theta-tokenTheta Network(THETA)$0.641.26%
  • bitcoin-cash-svBitcoin SV(BSV)$29.94-1.07%
  • nemNEM(XEM)$0.025210-0.32%