The meme coins industry registered the most bullish month in March for more than two years, led by Dogecoin (DOGE), Shiba Inu (SHIB), Pepe (PEPE), and Floki (FLOKI). According to the latest market data, the meme coin industry had a total valuation of about $68 billion and a daily average market value of around $8.3 billion.
With Bitcoin leading the confirmed crypto bullish outlook through the notable cash inflow, further gains are expected in the altcoin and meme coin industry.
Moreover, it is established that the small-cap altcoin and meme coins register higher volatility than Bitcoin and large-cap altcoins.
As the largest meme coin based on the Ethereum network, Shiba Inu (SHIB) has evolved to a utility-based altcoin through the Shibarium layer two scaling solution. With a dozen web3 projects deployed on the Shibarium network, the overall SHIB burn rate has significantly increased, thus increasing the overall bullish outlook.
According to a technical analysis by a popular crypto analyst Captain Faibik, Shiba Inu’s price is on the cusp of a 2x rally in April. The crypto analyst pointed out that the Shiba Inu price has been consolidating in a symmetrical triangular pattern that could end up in a bullish breakout.
Floki (FLOKI) is the second most valuable meme coin presumably backed by Elon Musk tweets. The meme coin rallied nearly 1,000 percent in the past few weeks to almost retest its prior all-time high (ATH).
According to Captain Faibik, FLOKI’s price is on the cusp of a fresh bullish breakout to enter the price discovery phase.
Also Check Out The : Top Best Bet Altcoins For April 2024
The frog-themed meme coin has a market capitalization of around $3.5 billion, thus the fourth most valuable meme coin. The small-capped meme coin has also been forming a symmetrical triangular pattern, likely ending in a bullish breakout.
Despite the notable competition from the Solana-based meme coins, PEPE’s price is well positioned for a bullish breakout in April.
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