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February 22, 2024
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Dogecoin (DOGE) and Shiba Inu (SHIB), The Top Two Meme Coins Prepare For A Breakout Run!

The post Dogecoin (DOGE) and Shiba Inu (SHIB), The Top Two Meme Coins Prepare For A Breakout Run! appeared first on Coinpedia Fintech News

With the altcoins preparing for a bull run this February, the total crypto market cap, excluding Bitcoin, has reached $783 billion. Signaling a 7.5% growth in the last two weeks, the altcoins share a mutual sentiment with the price action teasing breakout events in multiple coins. As the investors gain confidence, the highly volatile meme coin space is preparing to take off. Let’s have a closer look at the two biggest meme coins in the crypto market. 

Will The Meme Coin DOGE Price Reach $0.10?

Source- TradingView

With the constant support from the 200D EMA, the DOGE price trend is ready to surpass the overhead resistance trendline. Eventually concluding the pullback phase, the meme coin eyes a bull run to reclaim the $0.10 mark. 

Currently, the meme coin trades at $0.0805 following the overnight jump of 1.65% to form a bullish engulfing candle. With this increase in buying pressure, the altcoin prepares for a breakout run. Further, the rising bullish divergence in the RSI line supports the possibility of a jump in Dogecoin prices. 

Will SHIB Price Sustain Momentum To Touch $0.000012?

Breaking above the falling wedge, the SHIB price trend displays a successful retest of the broken trendline. With a 2.26% jump overnight and an intraday growth of 1.77%, the meme coin is consecutively making a second green candle. Thus, the post-retest reversal is gaining momentum. 

Source- TradingView

Therefore, the Shiba Inu price trend is ready for a bullish spiral, and the 50D EMA breakout will signal an entry spot for sideline traders. Optimistically, the altcoin can reach the $0.000012 mark this month. 

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