Despite the recent recovery in the cryptocurrency market, mainstream memecoins have shown limited growth in the past two weeks. However, as external news has not had a significant impact on these cryptocurrencies, interested traders can rely on their individual price behavior to determine their potential targets in the near future
Despite the recent recovery in the cryptocurrency market, mainstream memecoins have shown limited growth in the past two weeks. However, as external news has not had a significant impact on these cryptocurrencies, interested traders can rely on their individual price behavior to determine their potential targets in the near future.
DOGE
Source Tradingview
Under the influence of the resistance trend line, Dogecoin prices have witnessed a stable correction in the past six weeks and plummeted to a low of $0.0625. However, as the cryptocurrency market continues to recover, the price of Dogecoin has rebounded from the above levels and surged 18% within two weeks, reaching the current level of $0.07.
In this recovery, the DOGE price made a decisive breakthrough in the resistance trend line, indicating early signs of trend reversal. If the currency price can remain above the trend line, buyers may break through the key resistance of $0.078, encouraging further rebound.
ShibaInu(SHIB)
Source Tradingview
Similar to the price of Dogecoin, a downward trend line carries the ongoing correction phase of the Shibainu coin, causing it to drop to the Fibonacci retracement level of 0.786 at $0.0000967. However, with increasing purchasing pressure in the market, buyers are showing more attempts to break the trend line above.
As of now, the price of SHIB is trading at the $0.000011 mark, with an intraday increase of 2.89%. In addition, traders waiting for long opportunities should wait for prices to break above the trend line. Potential breakthroughs may push SHIB prices towards targets of $0.000012, $0.000013, and $0.000014.
TerraClassic(LUNC)
Source: Tradeview
In the past four months, LUNC prices have shown a horizontal shift between the buying peak of $0.0002 and the selling peak of $0.00012. In the recent recovery of the cryptocurrency market, LUNC prices have rebounded twice from $0.00012 within two weeks.
In addition, these two reversals demonstrate the formation of a double bottom pattern, with a neckline resistance of $0.000138. Currently, the price of LUNC is $0.0000136, with a daily increase of 3.4%.
With continuous buying, the price of LUNC will break this neckline resistance and soar 13% to reach $0.00015. The above resistance is strong and may limit the further growth of this meme coin.
Floki(FLOKI)
Source Tradingview
In the daily time frame chart, the price of Floki coins shows the formation of cup and handle shapes. Even the recent correction of the meme coin is part of this bullish reversal pattern, aimed at checking the sustainability of prices at a higher level.
As of the press release, FLOKI price traders were at $0.00004 and gradually rising, challenging local resistance of $0.000043. If it is possible to break through this resistance, it will provide additional support to buyers, driving the coin price up by 55% and challenging the neckline resistance of cup and handle patterns.
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