In the dynamic crypto market, memecoins have quickly grabbed the spotlight with their meteoric rise. The current memecoin frenzy, led by frog-themed PEPE, reveals strong potential for these tokens to make a remarkable comeback next week. Amid Bitcoin’s volatility, meme-based currencies like PEPE, SHIB, and DOGE have consistently beat expectations and demonstrated resilience to market challenges. Consequently, traders expect an increase in meme token values in the coming week.
What awaits Memecoins next?
The frog-inspired digital currency, PEPE, has jumped into the spotlight in the cryptocurrency realm with an astonishing 1,500% increase in just two weeks. Investors and traders alike are rushing to acquire the meme-based coin, which has now entered the top 50 cryptocurrencies by market capitalization, crossing the 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
Pepe’s recent uptick has been attributed in part to Binance’s decision to list both Pepecoin and Floki Inu (FLOKI) on its “innovation zone” platform. This move by the well-known exchange signaled some degree of widespread recognition for these meme-based currencies, which likely played a role in increasing their appeal with traders.
At the time of writing, PEPE price is trading at $0.0000026, down more than 5.3% in the past 24 hours. After encountering resistance near $0.0000045, the PEPE coin faced a downfall, falling below its 38.6% Fib channel. On the hourly price chart, PEPE has taken a sharp drop and is currently trading below the EMA-50, suggesting that the bears are gaining control.
In the coming days, the PEPE token may fall more to its support level of $0.00000183 if it does not rise above $0.000003.
Dogecoin Price Analysis
Major investors within the Dogecoin network have been steadily accumulating DOGE tokens since April 5. According to information from the cryptocurrency analytics provider Santiment, DOGE whales holding between 10,000 and 100,000 as well as 100,000 and 1,000,000 DOGE tokens have acquired nearly 200 million Dogecoins.
On the daily price chart, DOGE has gained support close to $0.075 after a heavy drop due to the rise of PEPE. The DOGE price is currently trading at $0.077, down nearly 2.7%. The RSI line started climbing near the centerline, signaling hopes for a bullish reversal next week.
If Dogecoin breaks above $0.08 and overcomes its resistance at EMA-200, it will continue a bullish rise to $0.09 next week.
Shiba Inu (SHIB) Price Analysis
After witnessing a sideways trading session for several weeks, the price of SHIB has finally made a clear move as the price broke below the critical support level. The price of SHIB lost support near $0.00000976 as bears moved in to short the trade.
The price of SHIB is currently hovering near $0.00000943, down more than 5% from yesterday’s price. If the bulls don’t immediately take the lead, the price of SHIB will continue to fall and reach the lowest level at $0.0000086.