With Bitcoin and Ethereum leading the market to a realm of recovery, the altcoins are preparing for a bull run, evident by their price action. Similarly, the top meme coins like Dogecoin, Shiba Inu and Pepe display a breakout entry opportunity arriving shortly. Moreover, the top meme coins did perform exceptionally well over the past two weeks, reflecting a growing possibility of trend continuation.
As investors anticipate a price increase in top meme coins, DOGE, SHIB, and PEPE coins are gaining the most attention.
Dogecoin (DOGE)
Source – TradingView
The Dogecoin shows a high momentum recovery rally, forming a rounding bottom reversal in the daily chart. The recovery rally creating this trend continuation pattern increases the likelihood of a bullish trend in DOGE price in the coming weeks.
Further, the growing frequency of bullish candles reflects the growing demand and improving sentiments of the meme coin. To further support this thesis, the rising trend in the intraday trading volume projects a high possibility of a new breakout rally.
Despite the intraday fall of 3.92%, the DOGE price is up by 23% in the last 15 days and approaches the neckline at $0.0955. Close to the psychological mark of $0.10, the Dogecoin price trend approaches a pivotal point.
The potential breakout above $0.10 would unleash the trapped momentum and help the DOGE price leap to $0.1150. On the flip side, a reversal could prolong resonance within the pattern.
Shiba Inu (SHIB)
Source – Tradingview
Being a top name in the meme coins sector, Shiba Inu hardly disappoints in an altcoin season. With the market recovery gaining momentum, the SHIB price trend is on a recovery track and signals an entry opportunity for breakout traders.
With a bounce back above the 200D EMA, the SHIB price fractures the overhead resistance trendline and concludes the lower-high streak. Increasing the chances of a golden crossover, the Shiba Inu price trend inn ready for a trend reversal and may shortly launch to the moon.
In the last 15 days, the buyers have pushed the SHIB price higher by 16.28% to surpass the $0.0000090 mark. Currently trading at $0.0000090, the 2.39% intraday drop retests the bullish breakout and teases a bounce back with a tail formation.
Considering the buyers sustain bullish momentum, the SHIB price can lead the bullish caravan to the $0.000012 mark.
PEPE
Source- TradingView
Following the falling channel breakout rally, the PEPE price trend continues a higher high streak with constant support from the $0.0000010 mark. Further, the recent bounce back teases a double bottom reversal in the daily chart.
The recent price hike of 32% in the last six days, leading to a short pullback of 1%, forms multiple bullish candles. More importantly, the 15.5% hike last night led to the bullish breakout of the double-bottom pattern with a neckline at $0.000001345.
Further, the uptrend challenges the resistance confluence of an ascending trendline and the $0.0000015 mark. However, the long wick formation in the last two daily candles reflects a strong overhead supply and teases a reversal shortly.
Nevertheless, with the market recovery gaining momentum, the PEPE price may give a bullish break for a 23% jump to $0.00000185. Conversely, the reversal rally might retest the $0.0000010 mark.
In conclusion, the Top Meme Coins are preparing for a breakout rally and tease a sharp jump in the immediate future.
