Memecoins Recovering: Here’s What’s Next for DOGE, SHIB, PEPE, WIF, and BONK Prices

The post Memecoins Recovering: Here’s What’s Next for DOGE, SHIB, PEPE, WIF, and BONK Prices appeared first on Coinpedia Fintech News

The weekend trade remained extremely bearish for the entire crypto space, which included even memecoins. The top 5 memecoins, Dogecoin, Shiba Inu, Pepe, dogwifhat & Bonk, are trying to rise above the bearish influence. Therefore, the buying pressure is slowly rising and hence the memecoins are about to gain mainstream attention soon. 

Dogecoin (DOGE) 

Dogecoin price is stuck around crucial support after rebounding from the levels below. Regardless of the bearish action, the price remains stuck above $0.1, which suggests the top memecoin is ready for the next price action. 

The DOGE price maintained its trade within a descending triangle and the recent bearish trend dragged the levels below the support. However, the RSI has rebounded from the lower support and is heading towards the average, which may lift the levels within the triangle and push it to the apex. As the price reaches the apex, it may trigger a bullish rebound and rise above $0.12. 

Shiba Inu (SHIB) 

The Shiba Inu price has been trading within a bearish descending parallel channel and has remained stuck along the average bands of the channel. However, the second-largest memecoin is close to triggering a bullish rebound and may head towards the upper resistance very soon. 

The price is trying very hard to breach above the average bands of the channel but is constantly failing to do so. The MACD is about to turn bullish as the selling volume has faded to a large extent. A bullish crossover may compel the price to maintain a healthy upswing towards the local resistance at $0.0000188, which coincides with the upper resistance of the channel. If the bulls display strength, a breakout could be imminent. 

Pepe (PEPE) 

PEPE price has dropped below the pivotal support but is displaying a huge possibility of a bullish continuation. The technicals have turned bullish and hence the price is expected to maintain a healthy ascending consolidation to reach the apex and trigger a breakout. 

The PEPE price has risen back above the crucial 200-day MA levels in a short while, which suggests the token is ready for a quick upswing. The price is expected to maintain a healthy upswing and reach the apex of the ascending triangle and hence is believed to trigger a breakout. Besides, the MACD is also close to undergoing a bullish crossover, which suggests the buying volume may soon increase and keep up the trend. 

dogwifhat (WIF) 

Similar to the other memecoins, the WIF price continues to trade within a bearish pattern and is believed to trigger a rebound from a crucial range. Regardless of the recent pullback, the price held the pivotal zone and hence a 30% rise could be fast approaching. 

The RSI has again triggered a bullish divergence as the crypto continues to maintain a healthy upswing, outpowering the bearish action. Therefore, the price is expected to enter the resistance zone between $2.15 and $2.29. If the bulls remained within the range, a rise above $2.45 could be imminent. 

Bonk (BONK) 

Being a little dissimilar to the market trend, the BONK price is feared to fall below the crucial support. After losing the support of the decisive symmetrical triangle, the price is stuck along the local support. However, bearish flags have been fluttering over the crypto and hence, a 20% pullback appears to be imminent. 

The RSI remains consolidated along the lower support and the Gaussian channel has just turned bearish. Therefore, the BONK price is feared to slip below the support at $0.00001994, which may lead the levels towards $0.00001407 if the bulls remain passive. Hence, the traders are required to be vigilant over the Bonk price rally.