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 properties have transcended their comedic origins and become serious competitors in the market. Investors’ interest in memecoins has increased due to various reasons.
The appeal of high-risk, high-reward investing, the excitement of being part of a vibrant and passionate community, celebrity endorsements, and social media influence have maintained the potential for these coins to become mainstream.
To determine the future potential of meme coins, we have compiled for you the three best meme coins that can be bought in 2024 in terms of market volume and predictions about the course of these coins.
dogecoin price prediction
Over the past year and a half, Dogecoin price action has been contained within a symmetrical triangle formation marked by two converging trend lines. This formation gave rise to a sideways movement, keeping DOGE in a tight range. Despite sluggish price action, this consolidation phase highlighted a suitable period for investor accumulation.
Amid the current corrective sentiment in the crypto market, Dogecoin price saw its latest reversal from the lower trend line in mid-October. This reversal pushed the price of Dogecoin from $0.056 to $0.077, a significant increase of 36 percent. If the buying momentum continues, this memecoin is poised for additional gains of about 14 percent in the coming weeks, meaning it could challenge the dual resistance level at $0.11 and the upper trend line of the ongoing formation.
Breaking this barrier would be an early signal of a trend reversal, which could extend its recovery beyond the $0.18 mark.
pepe price prediction
The price of Pepe Coin has recently undergone a significant correction, 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 a Head and Shoulders on the daily charts. Typically seen at market lows, this formation often provides an early signal that the trend will reverse.
At the time of reporting, Pepe Coin price is trading at $0.0000012 and experiencing a slight decline 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, the rally following the breakout could push the price of the meme coin by nearly 60 percent, 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 correction for this frog-themed meme coin.
shiba inu price prediction
Over the past 16 months, the Shiba Inu coin has experienced a steady decline, marked by a falling wedge structure. This formation, characterized by converging trend lines, kept the price movement within a limited range. Amidst the broader market correction, SHIB saw a significant increase in price, rising from around $0.0000066 to a recent peak of $0.00000964, representing an increase of 45 percent.
Following this surge, Memecoin has now gone through a three-day correction phase, causing its market cap to drop to $0.0000023. This pullback is important to regroup and gain strength for the next surge. With continued buying, the Shiba Inu coin price aims to challenge the upper trend line of the falling wedge structure, reaching $0.00001137, which represents a potential increase of 38 percent.
A successful bullish breakout from this upper trend line would signal a significant trend reversal and potentially set Shiba Inu price up for an aggressive recovery to $0.0000018.