What to Expect from the Memecoins in the H2 2024? Will DOGE & SHIB Lead the Rally or the PEPE or WIF Maintain Dominance?

What to Expect from the Memecoins in H2 2024?

Ever since the crypto markets have gained traction, memecoins have emerged as a significant force to reckon with. Among them, WIF, FLOKI, and BOME have displayed exceptional strength, while PEPE and BONK have followed suit. However, Dogecoin (DOGE) and Shiba Inu (SHIB) seem to be awaiting a substantial influx of buying volume to ignite their rally. Here's an analysis of what to anticipate from DOGE and SHIB in the year's second half:

Dogecoin (DOGE) Price Analysis

Dogecoin has been heavily influenced by bearish sentiment for the past few days, but the trend has reversed since the start of the year. The bulls remain optimistic, with the trend remaining slightly positive until the quarterly close. They are determined to maintain the crucial support-turned-resistance level at $0.1274. If these levels remain bullish for the next few hours, DOGE is expected to maintain an upward trend for the rest of 2024.

The weekly chart shows that the token experienced a parabolic recovery, regaining levels above $0.2. While the price is experiencing a minor pullback, the bulls continue to have some dominance, suggesting a recovery of lost levels. The RSI has rebounded but needs validation.

Therefore, DOGE is expected to rise above $0.22 if its monthly trade closes above $0.1274. Otherwise, it may drop close to $0.1, followed by a bullish rebound above $0.2.

Shiba Inu (SHIB) Price Analysis

Shiba Inu exhibits a high probability of a bearish reversal as it continues to face constant upward pressure. The token is repeating a previous trend, indicating a potential drop of over 40%. The volume has also decreased, suggesting extreme compression that could result in significant price action soon.

The chart suggests that SHIB is either preparing for a pullback towards local support or consolidating within a narrow range. The DMI supports the bearish narrative as -Di and +Di levels are approaching a bearish crossover. This caused a substantial setback, with the price falling below $0.00001, attracting liquidity.

Shiba Inu may rise to reclaim current levels, but to surpass $0.000035, the ShibaArmy must act quickly to counter the bearish sentiment.