Price: $0.19321 -0.5164%
Market Cap: 28.34B 1.1043%
Volume (24h): 4.8B 0.2%
Dominance: 1.1043%
Price: $0.19321 -0.5164%
Market Cap: 28.34B 1.1043%
Volume (24h): 4.8B 0.2%
Dominance: 1.1043% 1.1043%
  • Price: $0.19321 -0.5164%
  • Market Cap: 28.34B 1.1043%
  • Volume (24h): 4.8B 0.2%
  • Dominance: 1.1043% 1.1043%
  • Price: $0.19321 -0.5164%
Home > Information news > Surge in Meme Coins Attracts Investors in Crypto Market

Surge in Meme Coins Attracts Investors in Crypto Market

Release: 2024/03/25 11:44 Reading: 630

Original author:COINTURK NEWS

Original source:https://coinmarketcap.com/community/articles/6600793d7bb78023390a2f0d

You can also read this news on COINTURK NEWS: Surge in Meme Coins Attracts Investors in Crypto Market

In the rising momentum of the crypto market, the memecoin sector, led by Bitcoin, is witnessing intense interest from investors. The hype that started in the Solana ecosystem has managed to appeal to all segments of the crypto space. So, what’s happening on the fronts of Shiba Inu, WIF, and Dogecoin during this period? Let’s take a look together.

Shiba Inu Chart Analysis

The popular memecoin project of recent times, SHIB, appears to be gaining strength as indicated by the RSI. At the time of writing, the RSI was at 53.98, suggesting that SHIB buyers might be well-positioned to trigger a significant rise.

If this is the case, SHIB could lead the memecoin frenzy that the market experienced a few weeks ago. The chart analysis also includes a Fibonacci analysis showing how SHIB could rise towards the $0.000046 level. Despite the bullish outlook, investors should remain cautious.

WIF Chart Analysis

At the time of writing, WIF had fallen by 58.35% from its all-time high. This decline may be related to selling pressure as early WIF market participants reserve their profits. The Money Flow Index (MFI) level below 20 indicates that WIF had previously been oversold.

However, a recovery to 32.83 could signal that investors are buying at the dip. If this buying pressure increases, WIF could revisit the $2.60 mark within a few days. Yet, the On-Balance Volume (OBV) indicates that the rise thesis could be invalidated due to a halt in buying. In the short term, WIF could see a bearish outlook if it fails to hold at $2.

Dogecoin Chart Analysis

The four-hour chart shows how DOGE‘s price created a golden cross at $0.14 as the EMA 9 crossed above the EMA 20. Such a move could be bullish for DOGE. At the time of writing, Dogecoin was the highest gainer among the top 10 crypto projects over the last seven days, with a 24.28% increase.

With this trend, the DOGE price might be set for another rise. Apart from the technical outlook, Coinbase’s listing of the memecoin in the futures market on April 1st could start a positive phase for DOGE. In this case, the price could climb to $0.19, and beyond that, the Dogecoin community’s special day, Doge Day on April 20th, is approaching. A rise for DOGE could be on the cards before this event.

The post first appeared on COINTURK NEWS: Surge in Meme Coins Attracts Investors in Crypto Market

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.