Price Analysis

Which Meme Coin Will End The Current Bull Run With Highest Market Cap?

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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Nov 18, 2021

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Highlights

    Dogecoin and Shiba INU, both are attempting very hard to enter and sustain within the top 10 crypto assets

    The upcoming bull run could ignite most of the altcoins, while the popular memecoins may also get a wider push

Crypto market gains are fading away due to the extreme sell-offs in the past couple of days. No doubt some of the assets are trying hard to reclaim their positions, but the meme tokens continue accumulating. No doubt it’s a healthy one, yet some foresee a deep dive in the prices that may lead both the coins out of the top 10 assets.

Dogecoin(DOGE) Price Rally May Be Insane!

Dogecoin price after creating vibes in the crypto space appears to have squeezed itself. The popular meme coin is failing in its attempt to rise above $0.35 and heads towards its ATH. Moreover, the fresh pullbacks also accounted for a narrow trend and a huge plunge in the trading volume kept the price lower. 

On the other hand, it can also be considered as the asset is accumulating strength before the bull run catches fire. As the asset is maintaining a strong trend line as a base which is rising slowly yet steadily. The recent bearish trend also could not drag the price below the trend line and hence it could hit the immediate target at $0.2681 anytime from now. 

dogeprice
Source: Tradingiew

The asset has experienced a notable uptrend since the beginning of the quarter. Woefully it gets rejected each time it attempts to hit the strong resistance at $0.26. However, the current flip is much above the support levels and hence the price could retrace quickly in the coming days.  Moreover one can expect a substantial dump as the asset hits its ATH. According to some reports, many have entered the trade between $0.5 to $0.6

Also Read: Major Correction Incoming- Cardano(ADA) Price Expected To Slide Down By 35%

Shiba Inu (SHIB) Price Sliding Down

It appears that the SHIB price has lost all its momentum as the bull rally is fading each and every day. Shedding its gain profusely, the meme token has bottomed to its support levels as soon may break if a sufficient amount of liquidity does not enter the space. And hence the bearish clouds still hover the rally despite the assets flips each time it hits the support levels. 

shibachart

The asset is currently trending within a descending triangle and constantly testing the support levels. The volume also has fallen in deep well and hence a substantial decline in price may be on the cards. The SHIB price needs to rebound breaking the descending consolidation surpassing the 200-day MA, in order to break the bearish trend. With the reversal, the immediate target to hit would be around $0.00005500.

Both the popular meme coins possess a bullish momentum required to head towards the north. However, Dogecoin(DOGE) price manifest huge momentum than Shiba INU(SHIB) price. And hence chances of the prior getting ranked up within the top 10 is also quite possible. However, with the commencement of the Altseason, tokens like SHIB may attract huge profits than the other cryptos.

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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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