Have Memecoins Lost the Plot—What to Expect from DOGE, SHIB, & PEPE in November 2024?

The post Have Memecoins Lost the Plot—What to Expect from DOGE, SHIB, & PEPE in November 2024? appeared first on Coinpedia Fintech News

The crypto markets are trying hard to validate a decent upswing before the end of the month. Meanwhile, the memecoins have also displayed a tendency to close the monthly trade on a bullish note as the most dominant one, Dogecoin is manifesting extreme strength. Besides, Shiba Inu and Pepe prices are failing to generate the required momentum which may have helped them to follow the DOGE price rally. Now that the trade is approaching the monthly close here is what to expect next. 

Dogecoin (DOGE) Price Analysis

• Dogecoin price is trying to validate a parabolic recovery by rising above the crucial 200-day MA 

• The price has surged to reach the upper bands of Bollinger while the possibility of a huge explosion remains pretty high

• The RSI is incremental which supports a bullish narrative and hence a rise to $0.15 may lead the levels to reach $0.169 in a short while

• As the volume has not remained within the required range, the price is believed to remain consolidated above the gains at around $0.17 for a while and later trigger a breakout to the 2024 highs above $0.2

Shiba Inu (SHIB) Price Analysis

• The Shiba Inu price has been maintaining a consolidated ascending trend within a rising parallel channel 

• The token appears to have slightly lost track but the bulls are trying hard to revive a rise beyond the average bands of the channel

• The RSI has triggered a bullish rebound while the MACD displays a drop in the selling pressure, being within the positive range

• Hence, the SHIB price is believed to maintain a steep ascending trend and eventually test the upper resistance of the channel at around $0.00002 in a short while from now

Pepe (PEPE) Price Analysis

• The Pepe price appears to have entered a danger zone as the selling pressure has escalated to some extent

• After breaking out from the rising wedge, the PEPE price experienced a small pullback of nearly 15% 

• Although the bulls have managed to trigger a rebound, the levels remain consolidated below the crucial range around $0.00000925

• MACD suggest an accumulation of selling pressure over the token and hence a drop to $0.000008 could be imminent in the coming days