Price: $0.19218 -2.5387%
Market Cap: 28.19B 1.1046%
Volume (24h): 4.36B 0.2%
Dominance: 1.1046%
Price: $0.19218 -2.5387%
Market Cap: 28.19B 1.1046%
Volume (24h): 4.36B 0.2%
Dominance: 1.1046% 1.1046%
  • Price: $0.19218 -2.5387%
  • Market Cap: 28.19B 1.1046%
  • Volume (24h): 4.36B 0.2%
  • Dominance: 1.1046% 1.1046%
  • Price: $0.19218 -2.5387%
Home > Information news > Memecoins Lead Altcoin Market Rally

Memecoins Lead Altcoin Market Rally

Release: 2024/06/26 16:46 Reading: 894

Original author:BH NEWS

Original source:https://coinmarketcap.com/community/en/articles/667bcf264bd1fb18ab10f1fb

Memecoins Lead Altcoin Market Rally

Memecoins Lead Altcoin Market Surge

Memecoins are driving a notable surge in the altcoin market. Demand for these assets, which have been the top-performing sector in 2024, continues to flourish. Real World Assets (RWA) and artificial intelligence altcoins trail closely behind this trend.

Amidst this rally in community-driven and hype-focused altcoins, established names like Dogecoin (DOGE) and Shiba Inu (SHIB) signal potential rallies that could reverse the current trend. Additionally, a newer memecoin, Brett (BRETT), exhibits signs of a significant breakout rally.

Dogecoin (DOGE) Performance

Dogecoin, the leading memecoin by market capitalization, underwent a corrective phase after reaching its yearly peak of $0.22. Its price retreated to approximately $0.1175, forming a falling wedge pattern and dipping below the 200-day Exponential Moving Average (EMA). Despite this, Dogecoin remains above the critical $0.10 level.

Currently, DOGE is trading at $0.12548 following a 6.05% overnight increase. Technically, its price recovery is supported by rising MACD and signal lines, averting a potential death cross on the daily chart. If the bullish phase within the falling wedge gathers momentum, DOGE could break out towards $0.14, potentially reaching $0.18 or $0.22.

Shiba Inu (SHIB) Outlook

Shiba Inu formed a falling channel on its daily chart after reaching a 52-week high of $0.00004567. Its price moved below the 200-day EMA, suggesting a possible death cross formation. However, the negative trajectory swiftly found support at $0.000017 before testing the support trend line, indicating potential trend reversal. Rising MACD and signal lines support the possibility of a bullish trend. With continued upward momentum, SHIB could reach $0.000025 and potentially break out to $0.000035.

BRETT Breakout Signal

BRETT has established a strong long-term support trend line and recently breached a short-term resistance trend line, creating a triangle breakout on the 4-hour chart. Following a recent bounce off the support trend line, BRETT's price surged 25%, trading above $0.15. The next potential move before a price correction is a retest at $0.15419. Based on Fibonacci retracement levels, BRETT's price could climb to $0.23318 in the upcoming month.

Actionable Insights

  • DOGE may experience a breakout rally if it sustains momentum within the falling wedge.
  • SHIB has the potential for a bullish breakout if it maintains support at key levels.
  • BRETT's recent pattern suggests a continued price increase is probable in the near term.

In conclusion, the altcoin market is experiencing a robust upward trajectory driven by memecoins. DOGE, SHIB, and BRETT display promising technical patterns that could result in significant gains. Investors should monitor these patterns for potential trading opportunities.

Selected Topics

  • Dogecoin whale activity
    Dogecoin whale activity
    Get the latest insights into Dogecoin whale activities with our comprehensive analysis. Discover trends, patterns, and the impact of these whales on the Dogecoin market. Stay informed with our expert analysis and stay ahead in your cryptocurrency journey.
  • Dogecoin Mining
    Dogecoin Mining
    Dogecoin mining is the process of adding new blocks of transactions to the Dogecoin blockchain. Miners are rewarded with new Dogecoin for their work. This topic provides articles related to Dogecoin mining, including how to mine Dogecoin, the best mining hardware and software, and the profitability of Dogecoin mining.
  • Spacex Starship Launch
    Spacex Starship Launch
    This topic provides articles related to SpaceX Starship launches, including launch dates, mission details, and launch status. Stay up to date on the latest SpaceX Starship launches with this informative and comprehensive resource.
  • King of Memes: Dogecoin
    King of Memes: Dogecoin
    This topic provides articles related to the most popular memes, including "The King of Memes: Dogecoin." Memecoin has become a dominant player in the crypto space. These digital assets are popular for a variety of reasons. They drive the most innovative aspects of blockchain.