The crypto market is witnessing a surge in meme coins, even though the prices of popular tokens have cooled. Dogecoin and other meme coins are among the most popular. Shiba Inu The (SHIB), has successfully recovered its momentum.
Also, each meme currency’s portfolios have experienced significant increases in their value this month. This indicates an increase in investor optimism.
In the wake of the increasing volatility in the crypto-market and the growing hype about meme coins, the question is: Is the market heading towards a Meme Mania? This article will explain how to use the Meme Mania. articleIn this article, we will examine the prices of Dogecoins and Shiba Inus and the potential targets that each coin could reach in June.
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Dogecoin is on the cusp of breaking its Triangle pattern
Dogecoin is the leading meme coin and has seen its portfolio grow by approximately 3.5% in the past 24 hours. Star meme coin gained 20,1% in this month despite recording a neutral pattern over the last week.
DOGE also boasts an YTD return of 86.34%. The coin is expected to perform well during the bull run.
The DOGE price is currently forming a triangle pattern in the 1 day timeframe. It may break this pattern during the week. However, it’s still uncertain.
In the short term, if Dogecoin is able to break out of this triangle pattern the bulls may be ready for the resistance of $0.205. In the case of a break-down, DOGE could return to its critical support level of $0.128.
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Shiba Inu Prices Point to a Bullish Breakout
Shiba Inu has successfully tested its crucial support level at $0.00002375. SHIB has risen by 8.95% in the last week.
Shiba Inu’s coin has gained 19.89% in price, and its volume of trading is up 120% since yesterday. Meme coin gained impressively 174.26% over the past year. It is clear that investors are becoming more interested in it.
The SHIB Token’s price will test its trendline resistance this week due to a growing bullish influence. SMA’s bullish crossover is visible in the chart of the price, which indicates a good outlook for meme coin over the next few weeks.
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SHIB will be ready to reach its $0.00003950 upper resistance level if the bulls are able to break through the trendline of resistance. If a trend reverses, then the price could fall to its $0.00002375 support level.
Dogecoin has re-gained its momentum in the meme coin segment, and Shiba is leading this charge. Strong bullish price movement and the addition of value to their portfolios suggest a possible Meme Mania for the coming weeks.
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Source: watcher.guru