The Memecoin Mania, DOGE, SHIB & PEPE Upcoming Bull Run?

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  • PEPE crypto price outperforms memecoin rivals Dogecoin (DOGE) and Shiba Inu (SHIB) in the current sessions.
  • DOGE coin holds the highest trading volume among PEPE and SHIB coins.
  • Dogecoin ranks 8th among the top 10 most dominant cryptocurrencies in the world.

Memecoin is the term given to several cryptocurrencies that are named after characters, artwork, animals, etc. The primary focus of this kind of digital asset is to intrigue users with fun and light-hearted memes while providing trading in exchanges. 

Memecoins like Shiba Inu (SHIB), Dogecoin (DOGE) & Pepe (PEPE) have become the most loved crypto tokens in the world. However, many of the memecoins don’t have any intrinsic value, which can lead to a high-risk investment.

DOGE, SHIB & PEPE Crypto Coins Price Performance

At the end of February 2024, the Dogecoin (DOGE) crypto price witnessed a noticeable change. The short-term investors and traders pumped the crypto price over 180% to the $0.229  resistance level, which served as an initial profit booking zone for many buyers. 

In the last few sessions, the crypto has reflected a sharp recovery from the $0.125 demand zone, holding the possibility of a bullish resurgence.

Conversely, the Shiba Inu (SHIB) has outperformed the DOGE coin while comparing the last seven days’ data. However, the current SHIB market price structure shows a sideways trend. 

The price is moving between the $0.000027 and $0.000020 ranges, creating uncertainty at psychological levels. This can lead to a slower price performance against its rivals.

Furthermore, the Pepe the Frog memecoin price has shown enormous growth in the last few months. The memecoin has recorded over 250% positive profitability since March 2024. 

While comparing its peers again, PEPE is outperforming the SHIB and DOGE coins as per the data from the last seven days. The price surged over 18% during the weekly trading session. Recently, the PEPE price also made an all-time high mark of $0.0000115.

DOGE/USD Technical Analysis

Source: DOGE/USD Daily Chart by TradingView

The DOGE price has shown a strong bullish candle formation from the $0.125 demand zone. The price reflected an almost 34% bullish move, breaking above the trendline. 

The price also rebounded the 50-day EMA from below, indicating a bullish trend continuation. DOGE price is currently moving upward. As per the technical market speculations, an upsurge in price can be expected after the $0.169 level.

SHIB/USD Technical Analysis

Source: SHIB/USD Daily Chart by TradingView

The current SHIB price is moving between the $0.000027 and $0.000020 levels, reflecting a consolidation phase. However, the price rebounded the 50-day EMA from below, which could be a positive indication for uptrend continuation. 

Regarding the technicals, a positive rise in price can be expected above $0.000029. Similarly, a price drop below $0.000018 can lead to a fall.

PEPE/USD Technical Analysis

Source: PEPE/USD Daily Chart by TradingView

PEPE price has reached an all-time high level of $0.00001156. Afterward, the price formed several bearish candles from that level, indicating the upcoming correction phase. 

As per the current market speculations, the price may retest the $0.0000089 bullish point of interest (POI) after surging upward. Or, if the price directly breaks above the all-time high price level, a short-term rise can be expected.

Summary

While comparing these memecoins to each other, one thing is clear: their price has different values in comparison with the US dollar. So, the comparison that has been given in this article is based on their price performance. The current market speculation suggests that PEPE is outperforming both SHIB and DOGE in the current phase.

Disclaimer

The views and opinions stated by the author or any people named in this article are for informational purposes only. They do not establish financial, investment, or any other advice. Investing in or trading crypto or stock comes with a risk of financial loss.

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