Here’s a price analysis guide of top meme cryptocurrencies you can invest to obtain high return on investment
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Meme cryptocurrencies have solidified their presence in many investment portfolios, luring traders with the allure of significant returns in short spans. Amid the ‘Uptober’ crypto rally these assets not only witnessing substantial appreciation but also forging bullish chart patterns indicative of an extended recovery trend. As the market sentiment tilts in their favor, the top Meme coins like Shiba Inu, Dogecoin, and Pepe coin are positioned to extend their rally, capturing the attention of potential investors.
Also Read: Whales Receive 300 Mln MEME, Will Memecoin Follow Pepe Coin-Like Frenzy?
Dogecoin Price Prediction: Bullish Pattern Hints Extended Uptrend
Source- Tradingview
Over the past three weeks, Dogecoin(DOGE) has charted an impressive recovery, escalating from $0.0573 to $0.0737, marking a robust 28.62% ascent. The bullish momentum reflected on the daily chart is potentially carving out a ‘double-bottom pattern‘, signaling a surge in buying pressure.
If this pattern holds true, the Dogecoin price could breach the $0.083 neckline, setting its sights on a potential high of $0.11. Nevertheless, this ascent confronts a formidable resistance line that has directed a 20-month correction phase, posing a substantial blockade for bullish investors.
Should the DOGE price decisively break through this threshold, it may signify an incipient trend reversal, potentially amplifying its valuation by 115% from the present levels, targeting a $0.15 zenith
Shiba Inu Price Analysis: Early Signs of Trend Reversal
Source- Tradingview
The Shiba Inu coin price exhibits a prolonged downtrend encapsulated within a ‘falling wedge‘ pattern on the daily chart. This pattern has historically proven to be a crucible of market sentiment, with the price bouncing between its upper and lower confines twice in the past 16 months.
In theory, the chart formation reflects the downtrend would soon be reaching its maturity and the buyers can take over the trend control. Currently trading at $0.00000823 with a modest 0.37% intraday rise, the SHIB price is edging closer to the wedge’s upper trend.
A breakout above this downsloping pattern could catapult the price towards $0.0000158, subsequently aiming for $0.000018 – an endeavor that could yield a 117% appreciation from the current price point
Pepe Coin Price Analysis: Minor Pullback Before the Next Leap
Source- Tradingview
Amid the recent market uncertainty, the Pepe Coin price witnessed a slight downturn in the last two weeks. Nevertheless, the daily chart reveals this pullback as a pause within a bullish ‘flag‘ pattern, which typically suggests a temporary consolidation in an ongoing uptrend.
On October 6, the contract gave a decisive breakout from the pattern’s upper region signaling the end of correction. At present, the PEPE price is trading at $0.00000115, with attempts to cement its position above the recently surpassed level. The post-breakout rally should bolster buyers to challenge the multi-month resistance of $0.0000019. Surpassing this could pave the way for an extended rally toward $0.0000022, translating to a prospective gain of 101%.
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
