The cryptocurrency industry has displayed significant price action during the last week as the market has recorded a huge price jump in its value. Further, the market leader has regained bullish sentiment as the star crypto is trading close to its key resistance at $35,000 and is expected to retest it soon.
The memecoin category has enjoyed massive gains as major meme coins have surged more than 20%. On the other hand, Pepe coin has outperformed top memecoins by surging highest in value within the last week, resulting in the PEPE price claiming the top gainer spot from the category.
Is Pepe Coin New Doge?: PEPE Coin Price Analysis
Pepecoin has outperformed elite cryptocurrencies by adding over 63% in its value within the past week, indicating a possibility of a memecoinseason in the coming time. The Pepe coin price was seen trading in a closed range of $0.0000061 and $0.0000069 for a brief period.
Following this, the price gained momentum and broke out of its key resistance level at $0.0000083. Further, the coin continued to gain value and broke out of the resistance level at $0.0000090 but was rejected at $0.0000103, after that, the coin is presently trading in a consolidated range of $0.0000090 and $0.0000103.
The MACD displays a constant green histogram in its chart for almost a week, indicating massive buying and selling power for the memecoin. Further, the chart shows a recent rise in the bars, suggesting the price will continue gaining value before a correction in the coming days.
If the bulls hold power and push the price above the resistance level of $0.00000103, the price will continue to gain momentum and prepare to test its upper resistance level of $0.00000150 soon. Further, if the market continues to gain value, Pepecoin will run to test its resistance level of $0.000001215 in the coming time.
Conversely, if the bears overpowered the bulls, the price would experience a dip in value and test its support level at $0.00000090. Moreover, if the bears continue to dominate the market, PEPE will continue to lose value and test its lower support level at $0.00000083.
Also Read: Ripple Transferring 70 Million XRP to Gain Profits as XRP Exceeds $0.54, What’s Next?
Is DOGE Price Dead?: Dogecoin Price Analysis
The category leader has recorded a jump of nearly 12% in value within the past week, indicating a reduced hype for the coin considering its historic market sentiments of pump-and-dump events. The DOGE price was seen trading in a consolidated range of $0.05733 and $0.0600 for over two weeks, following which the market gained momentum, resulting in the price jump.
The Dogecoin broke out of its key resistance at $0.06660 and continued to rise but was rejected at $0.6931 multiple times, following which the coin lost momentum and broke down its support level of $0.0660.
The MACD was seen trading positively for about a week, following which the chart recently displayed a negative turnover in the histogram, indicating the price to dip in the coming time. Further, the averages show a bearish convergence, suggesting the price will experience a trend reversal soon.
If the bulls push the price above the resistance level of $0.06660, the Dogecoin price will regain momentum, continue to gain value, and prepare to test the upper resistance level of $0.06931 in the coming week.
On the flip side, if the bears overpower the bulls, the price will experience a dip in value and fall to test its support level at $0.06319. Moreover, if the bears continue to dominate the market, it will continue to lose price and test its lower support level of $0.06148.
Is Shiba Inu Going Up?: SHIB Price Analysis
The SHIB price was seen following the footsteps of the category leader as the price formed the same pattern as that of Dogecoin. Following the price drop during the first half of October, the price constantly traded below its key resistance level at $0.00000717.
Following the market pump, the SHIB price experienced massive momentum and broke out of it. Further, the continued to rise but was rejected at $0.00000758, after which the price lost momentum and is presently trading close to its support level at $0.00000734.
The RSI was seen trading above the oversold range, following which the price experienced a dip in value. Further, the RSI has formed a bullish divergence, suggesting the possibility of the price regaining momentum and testing its upper levels soon.
If the market continues to surge and the bulls hold power, the price will gain momentum and prepare to test its resistance level of $0.00000745 soon. Further, if the bulls continue to build momentum, the price will make a run to test its upper resistance level of $0.00000758 in the coming days.
On the negative side, if the bears dominate the market and pull the price below the support level of $0.00000717, the SHIB price will lose momentum and prepare to test its lower support level of $0.00000698 by the month-end.
Also Read: SOL Price Analysis: Solana Rallies Past $30, Will It Cross $40?
Note:
Overall, the Meme coin category has recently displayed a massive price action by gaining significant value in their respective prices. However, this category is highly volatile, and the price action is highly influential to a number of factors, resulting in this category recording the highest probability of pump-and-dump.
