Top 2 Memecoins To Record 50% Surge As Market Turns Bullish?

Top 2 Memecoins to Experience a 50% Surge in Bullish Market

With a robust upward recovery in the cross-border financial system, Bitcoin has escalated over 11% in the past week, successfully reclaiming the $65,000 mark with a market cap of $1.251 Trillion.

This surge has spurred significant growth in popular memecoins like Dogecoin and Shiba Inu, signaling a bullish sentiment in the market. Consider investing in these memecoins? Read on for market insights and price analysis.

Dogecoin Price Exhibits Increased Volatility:

The DOGE price has maintained a positive trend for five consecutive days, adding 21.19% to its portfolio. In the past week, it has risen by 13.04% and boasts a YTD return of 36.19%.

TradingView: DOGE/USDT

The 50/200-day EMA indicates a Death Cross on the 1D timeframe. However, a Golden Cross is imminent, with the MACD signaling an upward trend. This suggests a high probability of a bullish reversal for Dogecoin this week.

If market support pushes DOGE above $0.12730, bulls will regain momentum, aiming for the upper level of $0.155. However, if bears gain control, Dogecoin may fall towards its low of $0.101.

Shiba Inu Price Action:

The second-largest memecoin by market cap, Shiba Inu, has mirrored Dogecoin's price movement, adding 9.01% to its portfolio within a day with a trading volume of $706.003 Million. Recording five out of seven positive days, it has gained 18.92% over the past week.

TradingView: SHIB/USDT

Technical indicators SMA and MACD display a similar trend to Dogecoin, indicating elevated price volatility for SHIB.

Should bulls maintain dominance, SHIB will target an upper resistance level of $0.00002350. Alternatively, if bears retake control, Shiba may retest its low of $0.00001175 this month.