Memecoin Season Brewing; SHIB & FLOKI Price Surging; DOGE Price Closer to Break Macro Trend

The post Memecoin Season Brewing; SHIB & FLOKI Price Surging; DOGE Price Closer to Break Macro Trend appeared first on Coinpedia Fintech News

The crypto markets are gaining significant momentum as the majority of the cryptos are painted green. Bitcoin smashed high beyond $35,000 as the rounds of the ETF circulated within the space. Besides, the bearish intensity has wanned to a large extent as the price holds above $34,000 comfortably. In the meantime, the top meme coins—Dogecoin (DOGE), Shiba Inu (SHIB), & Floki Inu (FLOKI)—have surged by a large margin.

Has the memecoin season sparked up? Will this lead to a strong Altseason?

Dogecoin & Shiba Inu prices soared over 6% in the past 24 hours, while Floki Inu surged massively by more than 25%. All three tokens faced a significant downpour during the middle of August, with a nearly 20% drop each. Now that these tokens have triggered a fine upswing, the prices are believed to mark their interim resistance soon.

The Dogecoin price has risen above the lower support and is heading high to test the upper resistance of the descending triangle. A notable push is expected to propel the price towards the interim resistance at $0.0775. This may pave the way for the price to secure levels above $0.08 in the next few weeks.

The Shiba Inu price has maintained a steep descending trend ever since it faced rejection from its ATH within a falling wedge. The recent rebound from the lows indicates a rise in bullish momentum, which may even break through the upper resistance. As the SHIB price clears the interim targets at $0.00000875 and $0.00000970, a strong upswing aiming to reach $0.000012 may be validated.

The Floki Inu price surged significantly in the first few weeks of the year to mark a yearly high. However, ever since the token faced a rejection, the price has been maintaining a steep descending trend. However, the recent upswing caused the price to rise above the falling wedge. As the highs of the breakout are closer to the highs from where the price triggered a descending trend, a 100% jump appears to be imminent. However, before this, the price is required to clear the interim resistances at $0.00002796 and $0.00003251.