Memecoin Madness: Dogecoin, Shiba Inu, Floki - Buy the Dip!
During mid-April, the crypto market faced a notable Memecoin Madness. As a result, many main cryptocurrencies have a considerable price correction across the board. However, this reiteration phase provides an advantageous chance to purchase some popular memecoins at a discount.
It became a top meme cryptocurrency here with a bullish setup. Shortly, this setup can encourage this sustained recovery.
Key Takeaways:
- Mid-April dip in crypto market = chance to buy popular memecoins at discount.
- Dogecoin = moving sideways under a symmetrical triangle pattern. Recent recovery prompts active trader response. Price reversal could be 50% higher if buyers defend the pattern. Breakout from resistance may lead to a $0.2 bull run.
- Shiba Inu = descending triangle formation, narrow range. Potential breakdown may escalate the price to 80% higher under favorable conditions.
- Floki = sideways trend over the past two months, ranging between $0.000045 and $0.00002746. Support level = strong accumulation zone. Breakout above $0.000045 could lead to a 140% high.
- Twitter users @Crypto88888, @CRYPT0411, and @johnmorganFL made announcements about the falling and bullish setup of memecoins.
CryptosOnline.com took to Twitter and made an announcement about the falling of the top three memecoins to buy, i.e., Dogecoin, Shiba Inu, and Floki.
DOGE:
Under symmetrical triangle pattern influence, the dogecoin price has been moving in a sidelong strength over the past ten months. The recent recovery from this pattern converging tradeline prompts the traders actively respond to this pattern. This will also have a significant impact on the future price.
On the other hand, the DOGE price falls to the pattern’s support due to the ongoing selling pressure in the market to refill the bullish momentum. If buyers defend this pattern, the price reversal is around 50% higher to retest the overhead resistance trendline.
Moreover, the potential breakout from the pattern’s resistance will prompt the early sign of trend reversal. Completing this pattern leads to a bull run of $ 0.2 psychological barrier under the bullish condition.
Crypto411 took to Twitter and made an announcement that the market faced a notable downturn during mid-April. It results in considerable price correction across the board for various cryptocurrencies.
SHIB:
Shiba Inu price shows the descending triangle formation in the daily time frame chart. After reverting to the downsloping trendline, the coin price introduced a bear cycle within this triangle amongst the recent correction.
The meme coin stock is currently in the narrow range of $ 0.000011862 to $0.0000097. The seller may drive the price another 23.6% with sustained selling to revisit $ 0.0000078 neckline support.
If the prices break the lower neckline, this pattern results in a prevailing downfall. However, the rising momentum indicator indicates a rise in underlying pressure. The coin has the opportunity to violate the trend line.
The potential breakdown may escalate the Shiba Inu price 80% high to beat the $0.00001815 mark under favorable conditions.
John Morgan took to Twitter and made an announcement about the top Meme cryptocurrency with a strong bullish setup to encourage a sustained recovery shortly.
FLOKI:
The Floki Price has followed a sideways trend over the past two months. The Floki price ranges between $0.000045 and $0.00002746. The coin price has fallen consecutively for the past four days and approached the bottom range.
Moreover, this support level acts as a strong accumulation zone. The buyer bounces back the prices with strong bullish momentum. Anyhow, the safer trader can wait for a breakout above $0.000045 for additional confirmation of the uptrend. To hit $ 0.000086, the breakout leads the Floki price to a 140% high as per the trend-based Fibonacci extension.