Shiba

Pepe

Shiba Inu

Despite top cryptocurrencies continuing to struggle, meme coins like Shiba Inu (SHIB) and Pepe (PEPE) experienced massive upside momentum on April 17, 2024. However, this massive price surge in SHIB and PEPE may cause a breakout of the consolidation zone, which these coins have been experiencing for the last few days. SHIB and PEPE lead the crypto meme industry 
At the current time, the overall crypto-meme sector is down by nearly 13%, but SHIB and PEPE experienced a massive over 6% upside momentum. Besides SHIB and PEPE, other top meme coins like DOGE, WIF, BONK, and BOME also experienced massive price surges in the last 24 hours. Additionally, in the last 24 hours, investors, as well as traders, have shown their strong interest in the meme coin industry as trading volume has jumped by nearly 74%, and currently, it stands near $10.9 billion. 
According to expert technical analysis, in this confusing crypto market, SHIB on the daily time frame is consolidating in a tight range near its strong support. If SHIB gives a breakout in the upcoming days, then there is a high possibility that it could surge by more than 80%. Besides the consolidation, SHIB is also forming a bullish flag and pole price action pattern.&nbsp; PEPE technical analysis and key levels 
Whereas, PEPE after the breakdown of the symmetrical triangle pattern nearly fell 20%, and for the last 4 days, it has been consolidated near its support level. If the sentiment remains negative, then there is a high probability that PEPE may fall 30%. Whereas, if PEPE in the coming days gives a breakout of this current consolidation zone, then there is a high chance that it could surge more than 20%. 
Currently, an on-chain analytic firm IntotheBlock made a post on X (previously Twitter) that despite a massive price fall in PEPE at the current time, nearly 69% of PEPE holdings are in profits. Whereas, 27% of PEPE holders are experiencing losses, and 4% are there at breakeven. 
As the crypto industry is heading toward the Bitcoin Halving event, there is an expectation that the overall cryptocurrency market may surge significantly. However, with the current negative sentiment and <a href="https://news.todayq.com/new-bitcoin-price-prediction-analyst-says-120k-possible/">mixed analyst views</a> for this upcoming Bitcoin halving event, there is no clear indication of where the cryptocurrency market go, especially Bitcoin.

Shiba Inu, PEPE jumps while BTC, ETH struggles to keep up

Todayq News

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