The meme coin market has reached an impressive $116 billion, with leaders Dogecoin (DOGE) and PEPE at the forefront. Both assets are demonstrating significant growth, sparking interest among investors. As we continue our price action analysis, let's take a closer look at these meme coin prospects.
PEPE Price Targets
The daily chart shows a breakout from a descending channel for PEPE, with two consecutive bullish engulfing candles. The price has surpassed the 38.20% Fibonacci level, marking a more than 200% increase. The coin trades at $0.000024 with a 17.79% daily gain, reaching a new high of $0.00002567. Sentiments have improved following listings on Coinbase and Robinhood, with PEPE's potential for growth remaining high. The target level is $0.00000104.
Dogecoin Price Goals
Dogecoin is experiencing a price increase similar to PEPE. In recent weeks, DOGE's price has risen by 253%, starting at $0.111 and surpassing the 78.60% Fibonacci level at $0.3468. The coin is trading at $0.39368 with a 41.65% weekly gain. In the near term, DOGE might reach the $1 level and possibly $2.38.
FAQs
Q: What are the upside targets for Dogecoin? A: Based on Fibonacci levels, the targets for Dogecoin are $1 and possibly $2.38.
Q: What support levels and patterns are aiding PEPE’s bullish rally? A: The PEPE rally started with a 'morning star' pattern near $0.00000718, leading to a descending channel breakout.
Q: What is driving PEPE's current price surge? A: The surge is driven by the breakout from the descending channel and a positive crossover in the MACD.
Meme coins like Dogecoin and PEPE are gaining prominence in the crypto world, potentially signaling an upcoming bullish trend across the broader market. Whether they can set the pace for the industry remains to be seen.
