Will These 2 Meme Coins Outperform Crypto Market Post U.S. Election 2024?

The Crypto Market's Memecoin Landscape

Amidst the stabilization of Bitcoin around the $69,000 mark, the memecoin sector has witnessed mixed price sentiments and a significant surge in trading volumes.

Dogecoin (DOGE)

Over the past 24 hours, DOGE has experienced a 5.58% rise in value, with a trading volume of $2.289 billion. It has climbed 7.71% in the last week and an impressive 43.87% over the last 30 days. Notably, it has rewarded long-term investors with a YTD return of +75.82%.

The Moving Average Convergence Divergence (MACD) indicates a bearish convergence in the DOGE price chart, while its EMA 50/200-day shows a positive trend. This suggests a potential for mixed price action.

If a bullish reversal occurs, DOGE could retest its upper resistance level of $0.18225 this month. Conversely, if bears prevail, the price may fall towards its lower support of $0.127.

Shiba Inu (SHIB)

Despite a ~2% gain in the past 24 hours, SHIB has dropped 0.18% over the last week and 3.68% in the past 30 days. With a market capitalization of $10.036 billion, it holds the 12th position among cryptocurrencies globally.

The EMA 50/200-day exhibits a neutral trend in the 1D time frame. Its average trendline is approaching its halfway mark, hinting at a possible bullish convergence.

Maintaining its value above $0.0000170 could enable SHIB to reach its upper resistance level of $0.00002350 in the near term. However, bearish actions could lead to a retest of its low of $0.00001175.

FAQs

• Does Dogecoin have a future?
  The future of DOGE depends on various internal and external factors.
• What is the price of one Shiba?
  Currently, 1 SHIB is valued at $0.00001704.
• Is memecoin a good investment?
  Memecoins are generally considered high-risk, high-reward investments.