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Memecoins gain strength as the markets turn bullish after Bitcoin displayed the possibility of achieving $70,000 anytime from now. Besides, the Ethereum price is strongly heading towards $3500, which raises the possibility of hitting $4000 in a short while from now. As a result, the memecoins have also become aware of an upcoming price action, which flutters a bullish flag. The popular ones like DOGE and SHIB displayed bullish divergence after remaining stagnant for a long time, while Pepe is on the verge of beginning a fresh bullish spell.
Dogecoin (DOGE) Price Analysis
Dogecoin has risen over the psychological barrier in the past few days and also completed a retracement, which has opened the doors for a finely ascending trend ahead. The price has secured levels above $0.13, which suggests the token is preparing to reach $0.15. However, a small barrier may hinder the progress of the rally, but the bulls appear to be poised to maintain a strong ascending trend ahead.
Shiba Inu (SHIB) Price Analysis
The current trade set-up suggests the price may experience more loss in the coming days as the DMI is about to trigger a bearish crossover. Besides, the Bollinger bands are again contracting after experiencing some relaxation. Hence, the SHIB price is believed to maintain a horizontal consolidation until the volume regains some momentum. Until then, no major price action may be expected instead of minor swings below $0.000018.
Pepe (PEPE) Price Analysis
The recent bearish action has caused the price to drop below the ascending trend line and is failing to reclaim the levels within the ascending triangle. Moreover, the MACD is turning bearish as the levels are about to undergo a bearish crossover, which may trigger a fresh bearish trend. Therefore, if the bulls fail to reclaim the levels above the trend line, then the bears may drag the levels back to $0.00001. Otherwise, a successful rise may place the PEPE price at its apex, which may further initiate a fresh ascending trend.