Top Meme Coins With Huge Potential: DOGE, SHIB, PEPE, BONK

Top Meme Coins with High Potential

The pinnacle of meme coins with immense potential include Dogecoin (DOGE), Shiba Inu (SHIB), PEPE (PEPE), and Bonk (BONK). Dogecoin stands apart, securing a coveted spot among the top 10 cryptocurrencies. Despite their current status, these coins have traded below their key moving averages, signaling a bearish trend.

Dogecoin: Falling Wedge Pattern

At the time of writing, Dogecoin traded at $0.0942, experiencing an intraday increase of 1.89%. Its market capitalization stood at $13.74 billion, placing it eighth in the cryptocurrency hierarchy. The 24-hour trading volume amounted to $797.50 million, indicating a substantial 62% gain.

The formation of a falling wedge pattern may indicate a potential bullish move. A breakout could propel the price towards the last swing high once it surpasses the 200-day EMA.

Technical analysis suggests a decline in the DOGE price, forming lower lows. Approaching the previous low and trading beneath the 20-day EMA may invite sellers to establish a new low.

Should the price breach the critical support level of $0.0770, selling pressure may intensify, potentially leading to a new all-time low.

The MACD indicator displays a bearish trend, with a death crossover accompanied by negative histograms.

Bonk: Below Main Trendline

The Bonk price has descended below its primary trendline, while a death crossover has occurred between major moving averages.

An immediate recovery from this level could signify a false breakdown, capturing most sellers. This liquidity grab may trigger significant buying pressure.

Sustained movement below the trendline may empower sellers further. The bearish market sentiment could adversely affect the Bonk price.

Shiba Inu: 70% Correction

Shiba Inu has experienced a 70% correction phase, characterized by a gradual decline. Its failure to breach the 20-day EMA indicates a bearish sentiment.

A price breakout above the 200-day EMA could attract long-term investors, with trading volume playing a crucial role. Surpassing the $0.0000300 level may also entice buyers.

Trading below the current swing low could prompt sellers to aim for this year's low.

PEPE: Major Support Level

The PEPE price has formed a descending triangle pattern. Since March, it has maintained the key support level of $0.00000650.

A breakout from the triangle could generate bullish momentum, with potential resistance near the $0.0000130 mark. Breaking this level may unleash a strong bullish trend towards a new all-time high.

Conversely, a decline below the $0.00000650 level may trigger profit-taking, intensifying selling pressure and potentially pushing the price lower.

Bearish Market Impact

The prevailing bear market has dampened the sentiment around meme coins, including Dogecoin, Shiba Inu, PEPE, and Bonk. The correction in Bitcoin has negatively impacted these altcoins, leading to a loss of key moving averages and seller dominance.