Have Memecoins Lost the Plot—What to Expect from DOGE, SHIB, & PEPE in November 2024?

Crypto Market Outlook and Memecoin Momentum Analysis

The cryptocurrency markets are anticipating a significant upswing by the end of the month. Notably, memecoins, such as Dogecoin (DOGE), have exhibited a bullish trend, positioning themselves for a positive monthly closing note.

Dogecoin (DOGE) Price Analysis

• DOGE is anticipated to undergo a parabolic recovery, potentially breaching the crucial 200-day MA.
• The price has surged towards the upper Bollinger Bands, highlighting the possibility of a substantial rally.
• Technical indicators like RSI suggest a bullish outlook, supporting a rise to $0.15, paving the way for further gains to $0.169.
• Volume levels need to increase to sustain the gains beyond $0.17, potentially triggering a breakout to the 2024 highs above $0.2.

Shiba Inu (SHIB) Price Analysis

• SHIB has maintained a steady ascending trend within a rising parallel channel.
• The bulls are attempting to regain momentum and propel the price above the channel's average bands.
• RSI and MACD indicators indicate a bullish rebound, with the selling pressure diminishing.
• As a result, SHIB is projected to continue its uptrend, reaching the channel's upper resistance at $0.00002.

Pepe (PEPE) Price Analysis

• PEPE has entered a potential selling zone, with increased selling pressure.
• The breakout from the rising wedge resulted in a 15% pullback.
• Bulls have attempted to rebound, but prices remain below $0.00000925.
• MACD indicators suggest an accumulation of selling pressure, indicating a potential drop to $0.000008 in the near future.