Meme Coins on the Rise: Will DOGE and SHIB Double in Value?
As the altcoins market shows signs of recovery, meme coins like DOGE (Dogecoin) and SHIB (Shiba Inu) are garnering attention once again. The latest bullish trend suggests potential opportunities for investors. Can DOGE and SHIB see a 2x gain this month?
DOGE Holding Steady at $0.12: A Major Upsurge on the Horizon?
Dogecoin recently faced a bearish reversal from $0.22, forming a resistance trendline and lower-high trend. It has now dropped to test the high demand zone at $0.125. Despite this, the price of DOGE is currently trading at $0.1252 with a daily gain of 2.71%.
Although DOGE has broken below the critical 61.80% Fibonacci level, which could signal a drop under the psychological $0.10 mark, the intraday gain and lower price rejection indicate a potential for a bullish reversal. If this happens, DOGE might see an upside of 20% to reach $0.1486.
SHIB Eyeing a 30% Upsurge: Will It Break the Negative Trend?
After a promising start in early March, Shiba Inu (SHIB) has struggled to maintain its momentum. The price has dropped by 48% over the last 100 days due to a lack of buying interest. Currently, SHIB is trading at $0.0000188 with a daily gain of 4.37%, forming a bullish candle above $0.000018.
With the $0.000020 mark serving as a psychological resistance, a successful retest above this level could help SHIB break the negative cycle. If so, SHIB might challenge the overhead resistance near $0.00002470, indicating a potential 30% upside.
Key Takeaways
- DOGE price at $0.1252, with potential 20% upside.
- SHIB price at $0.0000188, eyeing possible 30% gain.
- Both meme coins could see significant value increases if bullish patterns hold.
Investors should keep an eye on these community-driven coins for possible price surges in the coming weeks.
