In the crypto market, memecoins have emerged as a unique and interesting sector, attracting the attention of investors and enthusiasts alike. Originally born from internet humor and cultural references, these digital assets have transcended their comedic origins and become serious competitors in the market. Investors have become increasingly interested in memecoins for various reasons.
The appeal of high-risk, high-reward investments, the excitement of being part of a vibrant and passionate community, celebrity endorsements, and social media influence have sustained the potential for these coins to become mainstream.
In order to determine the future potential of meme coins, we have compiled for you the best three meme coins that can be purchased in 2024 in terms of market volume and predictions about the course of these coins.
Dogecoin price prediction
Over the last year and a half, Dogecoin price action has been contained within a symmetrical triangle formation marked by two converging trend lines. This formation led to a sideways movement, keeping DOGE in a limited range. Despite a sluggish price movement, this consolidation phase highlighted a period ripe for investor accumulation.
Amid the current recovery sentiment in the crypto market, Dogecoin price witnessed its latest reversal from the lower trend line in mid-October. This reversal increased the Dogecoin price from $0.056 to $0.077, a significant increase of 36 percent. If the buying momentum continues, this memecoin is poised for an additional gain of around 14 percent in the coming weeks, meaning it could challenge the dual resistance level at $0.11 and the upper trendline of the ongoing formation.
A possible break through this barrier would be an early signal of a trend reversal, which could extend its recovery beyond the $0.18 mark.
Pepe price prediction
Pepe coin price has shown a significant recovery recently, rising from a low of $0.00000061 to $0.00000145, an impressive increase of 141 percent. This upward move has become particularly notable as it reveals the formation of a bullish reversal pattern known as the head and shoulders on the daily chart. Typically observed at market bottoms, this formation often heralds an early sign that the trend will reverse.
At the time of reporting, Pepe coin price is trading at $0.0000012 and is experiencing a slight pullback due to resistance at the $0.00000145 neckline. However, this pattern showed that buyers could soon overcome this resistance level and potentially trigger increased buying activity.
If buyers successfully overcome this neckline resistance, a post-breakout rally could push the meme coin’s price nearly 60 percent higher, potentially reaching $0.00000233. Such a rally would not only surpass the previous high of $0.0000019 but also challenge the Dow Theory of a downtrend, showing early signs of a broader recovery for this frog-themed meme coin.
Shiba Inu price prediction
Over the last 16 months, the Shiba Inu coin has experienced a consistent downtrend marked by a falling wedge formation. This formation, characterized by converging trend lines, kept the price movement within a limited range. Amidst a broader market recovery, SHIB price witnessed a notable increase, rising from around $0.0000066 to a recent peak of $0.00000964, marking a growth of 45 percent.
Following this rise, memecoin has now gone through a three-day correction phase, causing its market cap to drop to $0.0000023. This pullback is critical to regroup and gain strength for the next bounce. With sustained buying, Shiba Inu coin price aims to challenge the upper trend line of the falling wedge formation, which will reach $0.00001137, representing a potential upside of 38 percent.
A successful bullish breakout from this upper trend line would signal a significant trend reversal and potentially set the Shiba Inu price up for an aggressive recovery to $0.0000018.
840
