Top Meme Coins Enter A Bull Run: DOGE, SHIB, and BONK Price Analysis

The post Top Meme Coins Enter A Bull Run: DOGE, SHIB, and BONK Price Analysis appeared first on Coinpedia Fintech News

With the Bitcoin price touching the peak of $52,000 after almost two years of blackout, the markets are moving like a bullet train from Japan. Amidst such recovery, the meme coins are the exciting sector with breakout opportunities. 

Further, known for their sharp, volatile jumps, the top meme coins are closely followed by investors ready to catch the breakout run. With the potential for triple-digit jumps in a matter of weeks, let’s have a look at the Top Meme Coins, which are Dogecoin (DOGE), Shiba Inu (SHIB), and Bonk (BONK).

1. Dogecoin (DOGE)

Source – TradingView

With a bullish breakout of a resistance trendline, the DOGE price trend is ready for a bullish reversal. The spike in trading volume supports the breakout event projecting a sharper move for for Dogecoin. 

Moreover, the DOGE price jumps almost 11% in the last two weeks, resulting in bullish engulfing candles. Further, the price jump exceeds the 38.20% Fib level, teasing an uptrend continuation. 

Currently, the DOGE price trades at $0.08630 with an intraday move of 0.95% jump. Despite the higher price rejection in the daily candle, the weekly momentum could push the DOGE price higher to $0.10 this month. 

2. Shiba Inu (SHIB)

Source – Tradingview

Being the second biggest meme coin per market cap, the SHIB price signals a positive sign in the weekly chart. Hampering the continuation of Lower high formations, the Shiba Inu projects a potential breakout trend for a bullish reversal. 

With a cup and handle pattern breakout, the SHIB price challenges the psychological neckline at $0.000010. Approaching the upper line of Bollinger bands, the 10% jump in the last ten days signals a seismic shift in underlying sentiments. 

Considering the buyers sustain the momentum, the SUIB price can start a new run above $0.000010. Further, the bounce back from the 50-week EMA adds brownie points to the bullish side. 

Optimistically, the Shiba Inu price jump can scale to $0.000015 in the coming weeks and ignite a new higher high formation.

3. BONK

Source- TradingView

Finding a solid ground at 61.80% Fibonacci retracement level, the BONK price concludes the pullback phase. With the bullish reversal cracking the overhead resistance trendline and the 50-day EMA, the meme coin is ready for a bull run. 

Challenging and stretching the upper band of Bollinger bands, the uptrend approaches the 38.20% Fibonacci level. Coinciding with the psychological mark of $0.000015, the uptrend is up against a solid line of supply. 

Further, the double bottom breakout signals a trend reversal for the meme coin. Considering the buyers manage to surpass the 38.20% Fib level, the BONK price can shoot up to the previous peak at $0.000025.  

In conclusion, the Top Meme Coins are ready to skyrocket with a breakout rally and teases a sharp jump in the coming weeks.