This Monday, the world feels a little ease with the ongoing US-Iran war, as President Trump said about the discussions and passing of 2 tankers from the Strait of Hormuz. Bitcoin reacted strongly, as it surged above $74000, a resistance that had failed to cross multiple times recently.
Altcoins like Ethereum, Solana, and XRP aslo reacted positively, but the interesting part is memecoins here. The memecoins category, for a long time, has not performed well, but it’s time to say they are back in the game.
Monday opened green for most of the memecoins. Dogecoin (DOGE), Shiba Inu (SHIB), Pepecoin (PEPE), Bonk ( BONK), DogWifhat (WIF), Osaka Protocol (OSAK), Fartcoin (FART) and more.
The President Trump Solana memecoins, TRUMP Coin, reached an annual low of $2.9 due to declining perceptions of him. At press time, TRUMP is at $3.9, down 3% from a surge to $4.2.
The TRUMP/USDT 1D chart shows the asset remains within a descending channel, with an impulse towards its upper line clearly visible.
With MACD and RSI 56 showing bullish signals, the coins present a good buy-the-dip opportunity. TRUMP is expected to rebound above its first resistance at $4.3, which it tested today and if the trend persists, $5.69 is the target.
This is a possible scenario, as Trump has yet to announce another Gala lunch/dinner for holders of the Trump coin. Participants are sorted into time-weighted holders between March 12 and April 10.
At press time, Dogecoin price is $0.1002 with 4.8% 24hour surge, and $0.103 is its 50 Day EMA. If DOGE breaks above $0.102 daily resistance, the big memecoins can briefly hit the next resistance at $0.110.
Further close above this level will trigger a rally near the 100-day EMA of $0.119. Supported by neutral to bullish MACD and RSI (57).
Following this scenario, we can see DOGE travelling to the Feb low at $0.08.
Shia INU, SHIB price recovered aroundd 13% from its last week’s horizontal support at $0.0000054. At the time of writing, SHIB is at $0.000006191, near the 50-day EMA ( $0.0000062).
The momentum indicators for SHIB/USDT are bullish, and a close above $0.0000062 will trigger its momentum towards the weekly resistance at $0.0000068.
If Shib does not keep up the buying momentum and trend, we can see its travel towards the horizontal support zone of $0.0000054
Pepecoin has shown strength in recent trading sessions. 8th March, the memecoin found support on $0.0000031, the Feb low. At press time, PEPE coin price is at $0.000003924, up 16% in 24 hours
PEPE/USDT chart shows MACD making a bullish crossover, the RSI at 59 facing upside. The Momentum indicators show Pepecoin price nears its 50-day and 100 EMA and shows potential growth.
If things go wrong for PEPE, we could see a drop towards the Feb 6 low at $0.0000031.
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