Price Analysis

Dogecoin Price Is Pumping, Shiba INU Coin Is Still Surging! How High Will Meme Coins Go?

Written by: Sahana Vibhute

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Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

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Oct 29, 2021

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Article Highlights
  • Dogecoin price is gaining good bullish momentum over the past couple of days as the asset is hovering in and around $0.3

  • The asset is expected to rise above the levels and head strongly beyond its ATH at $0.7 and eventually hit a dollar at the earliest

The launch of Bitcoin ETF has flipped the bearish market into a greener one. The BTC price reclaimed its levels above $61,000 and ETH price smashed new ATH at $4400 just a few moments ago. However, no matter what the Bitcoin & Ethereum trend is, ShibaInu Coin trends towards the north. And more interestingly, the Dogecoin price is also following the trend with more than 20% jump in the past 7 days.

The asset since the May crash trended within a very narrow range. And despite a couple of failed attempts to break the resistance, the DOGE price remained bullish. However, the price can still go much higher, as the pattern suggests a massive leg upcoming. The popular meme token once breaks the pattern can rally as high as $0.5 within no time. 

Also Read: Traders Watch Your Step Before Making Any Move With Shib! What You Need to Know!

dogecoin price
Source: Tradingview

With the notable pumps and dumps, the asset managed to be stable above $0.2 for a pretty long time. And hence in the weekly time frame, it forms a gigantic ‘w-shaped’ pattern with the neckline somewhere above $0.33. The asset, however, did attempt to breach through these levels but eventually failed to sustain and dropped below $0.3. 

No matter the Dogecoin price ATH is little distinct from the current levels, yet could undergo a massive upward trajectory. However, the current weekly close is very much important to estimate the upcoming price movement. A bullish breakout above $0.4 may validate the uptrend and if the DOGE price smashes $0.5 levels bull run may resume.

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Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

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