Top Memecoins Of The Month Are Dogecoin, Shiba Inu, & Pepe

• Pepe price has formed a triple bottom, a reversal can be anticipated.
• The Dogecoin price has formed a falling wedge pattern on the daily time frame.
• Shiba Inu price has declined by 47% in the past 3 months.

The top memecoins of the month are DOGE, SHIB, and PEPE in terms of market capitalization. Among them, only Dogecoin remains in the top 10 in the cryptocurrency market based on the market cap. These coins have slipped below the key moving averages, showcasing a bearish forecast.

SHIB Price Displayed 70% Correction; Can it Rise After Breakout?

Shiba Inu was trading at $0.0000135 at press time, it had surged by 2.75% in the past 24 hours. It has a market capitalization of $7.96 Billion and the 24-hour trading volume was $173.47 Million.

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The Shiba Inu crypto price has been declining through a descending channel since the first week of March. Buyers have made many attempts to overcome the descending trendline but couldn’t. SHIB price has been struggling near the trendline for the past 10 days, a breakout is expected.

If the digital asset price manages to exceed the trendline, it would be a buying opportunity. If the price smashes the 200-day exponential moving average (EMA), then the price may witness buying pressure.

If the digital asset price slips below the $0.0000120 hurdle, then sellers may dominate. For buyers, the $0.00000950 level would be a crucial level for a bounce back.

Dogecoin Price Technical Analysis Over Daily Timeframe

If the price of Dogecoin breaks out from the declining wedge, buyers might be drawn in. Bulk buying momentum could begin if the price begins to trade above the 200-day EMA. The $0.140 barrier may cause disruptions to the bullish trend in DOGE. A strong upmove might occur if this level is crossed.

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Alternatively, buyers may encounter difficulties if the cryptocurrency price drops below the $0.0950 mark. If the buyers fail to break above the significant support level of $0.0780, selling pressure is likely to increase over the coming weeks.

Based on the technical indicators, the DOGE price was trading below the key moving averages, indicating a bearish forecast.

The MACH developed a death crossover with the Signal line in the negative territory. The histograms turned red, which is a bearish signal.

Pepe Crypto Price Forms Falling Wedge Pattern

On the daily time frame, the PEPE crypto price has formed a falling wedge pattern. For the past few weeks, the price has been struggling below the 200-day EMA. If the price surpasses the 200-day EMA, buying momentum can be seen.

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On the other hand, if the price breaks out from the wedge, buying momentum can be seen. Suppose the price overcomes the $0.0000130 mark then it would be a buying opportunity.

If PEPE fails to surpass the key wormoving averages then sellers may dominate. If the buyers lose the momentum then strong selling pressure can be initiated.

Conclusion

The top memcoin of the month are Dogecoin, SHIB, and PEPE based on the market capitalization at press time. All of them have dropped below the key moving averages which showcases the bearish forecast. These memecoins have been in a bearish trend but based on the technical chart, they have found the bottom and reversal can be planned.

Disclaimer

This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.