Dogecoin (DOGE) Or Shiba Inu (SHIB): Which Will Gain More Profits This June?
Release: 2024/05/29 16:09 Reading: 506
Dogecoin (DOGE) or Shiba Inu (SHIB): Which Will Yield Higher Returns in June?
Originally published on Coinpedia Fintech News
Despite a recent lull in the crypto market, memecoins have regained momentum, showcasing bullish price action since the week's commencement. Notably, prominent meme tokens have significantly enhanced their portfolios this month, indicating a surge in positive sentiment.
With the escalating volatility in the crypto sphere and the growing popularity of memecoins, could the market be poised for a "Meme Mania" in the coming weeks?
Dogecoin on the Cusp of Breaking Out of Triangle Pattern
Dogecoin, the leading memecoin, has witnessed an approximate 3.5% portfolio gain within the past 24 hours. Despite a neutral trend last week, it has garnered a 20.1% increase this month, underscoring the growing bullishness in the crypto realm.
Additionally, DOGE boasts a Year-to-Date (YTD) return of 86.34%, suggesting a promising outlook for the memecoin in the forthcoming bull run.
src="/uploads/20240529/17169718316656e93740b36.png">
TradingView: DOGE/USDT
src="/uploads/20240529/17169718316656e93740b36.png">
Dogecoin's price action has formed a symmetrical triangle pattern on the 1D time frame and is poised to break out this week. The outcome of this breakout remains uncertain.
The Moving Average Convergence Divergence (MACD) exhibits a gradual decline, with its averages hinting at a potential bearish convergence. Moreover, the SMA indicates a negative crossover, signaling a weak price movement for DOGE.
Should Dogecoin break out of the triangle, bulls will aim to challenge its upper resistance level of $0.205. Conversely, a breakdown could lead to a retest of the crucial support level of $0.128.
Shiba Inu Price Hints at Bullish Breakout
Shiba Inu (SHIB) has successfully retested its critical support level of $0.00002375. This has resulted in the second-largest memecoin by market capitalization experiencing an 8.95% surge over the past week.
Furthermore, SHIB has gained 19.89% and witnessed a 120% increase in trading volume within the last 24 hours. Notably, the memecoin has accrued an impressive 174.26% year-to-date, highlighting investors' growing interest.
TradingView: SHIB/USDT
Amidst the growing bullish sentiment surrounding SHIB, its price is on the brink of testing its resistance trendline this week. The Simple Moving Average (SMA) displays a bullish crossover, suggesting a positive outlook for the memecoin in the upcoming weeks.
The Relative Strength Index (RSI) has successfully retested its midpoint on the 1D time frame, resulting in a substantial uptrend towards the overbought zone.
If the bulls manage to breach the resistance trendline, SHIB will set its sights on the upper resistance level of $0.00003950. However, a trend reversal could lead to a decline towards the support level of $0.00002375.
Recent news
More>- Next Bonk? Dogen on Track for 15,000% Gains by 2025 – Don’t Miss the Rocket! 11-28
- PEPE Now Available for New York Users to Trade on Coinbase 11-28
- Tether Discontinues Support for EURT Stablecoin: Here’s Why 11-28
- Best Trending Meme Coins in December 2024: 6.5 Billion Coins Sold in BTFD Coin’s Ongoing Presale, Pepe Coin and Ponke on the Rise 11-28
- As Top Cryptos Recover After Recent Dip, New Meme Coin Pepe Unchained’s Unstoppable Presale Powers Ahead — Only 16 Days Left 11-28
- As Top Cryptos Recover After Recent Dip, New Meme Coin Pepe Unchained’s Unstoppable Presale Powers Ahead — Only 16 Days Left 11-28
- As Top Cryptos Recover After Recent Dip, New Meme Coin Pepe Unchained’s Unstoppable Presale Powers Ahead — Only 16 Days Left 11-28
- Missed PEPE? Don’t Miss Out on This New Token That’s Breaking Records at Lightning Speed 11-28
- CHILLGUY meme coin could be at risk as smart money sells 11-28
Selected Topics
More>>-
- pepecoin Price Analysis
- This topic provides articles related to PepeCoin price, covering key PepeCoin insights and analysis
-
- pepe:meme star
- This topic provides articles related to the most promising meme, PEPECOIN, a project with the potential to become a mainstream digital currency. It has the advantages of decentralization, reliability, ease of use, fast speed, low cost and scalability, and is expected to be more widely used in the future
-
- pepecoin price prediction
- We’ve gathered facts about pepecoin’s success story and provided a pepecoin price prediction
Selected Articles
More>>- 1 Avalanche and Aptos rival raises over $600k in 2 weeks
- 2 Crypto Prices Today: Market Continues Rally With BTC, Pepe Coin, SEI Rising
- 3 Major Analyst Crypto Tony Bullish on These Meme Coins, But One Stands Out
- 4 MTAUR Ready to Crush DOGE and PEPE: 100x Price Growth Incoming?
- 5 Memecoins Surge in 2024, Popcat Leads with 7,621% YTD Gain, Outshining Top Crypto Tokens
- 6 PEPE Meme Coin Smashes ATH – See How Much an $83 Investment in Pepe Coin Last Year is Worth Now
- 7 Top 4 Altcoins At 70% Discounts – Last Chance!
- 8 Dogecoin Creator Proposes DOGE to NBA Legend Scottie Pippen
- 9 Top Analyst Who Predicted Dogecoin (DOGE) Last 170x Rally Forecasts New Parabolic Rise, Here’s His Price Target
- 10 New Solana Memecoin Trump Loves Elon to Rally 15,000% Before Exchange Listing, SHIB and Bonk Crash
ABOUT US
We are building the most influential，trusted information platform for aglobal community engaged in thd transformation of the financial system andthe emerging crypto economy.PEPE is an integrated platform for media,events,data & indices for the next generation fo investing and the future of money.
Get in touch with the PEPE team at admin@pepecoinbuy.com