With the increasing Bitcoin price, meme coins such as Dogecoin and Shiba Inu are gearing up to become top performers once again. Despite recent corrections in their price charts, there seems to be an opportunity to buy at a dip.

The market speculates on the possibility of a reversal in the meme coins. Analyzing the technical charts of these cryptocurrencies can help identify the best buying spot.

Is DOGE Worth Purchasing Below $0.18?

After experiencing a tough week, DOGE lost 20% of its market value. This led to a significant bearish engulfing candle, undoing the 24% growth from the previous week.

In the daily chart, the downtrend falls within a rising channel pattern as the supply trendline starts to show resistance. The breach of the $0.18 support level signals a potential further decline.

Despite these challenges, bullish indicators like the rising 50-day EMA and a support trendline provide hope for a positive reversal. Based on the daily chart, it may be worthwhile to consider buying DOGE below $0.17 for a possible increase to $0.30 by the end of the month.

Will SHIB Breakout Bullishly?

Following a path similar to Dogecoin, Shiba Inu saw a 12.52% drop this week. Despite the inability to sustain above $0.000030, the meme coin now forms a triangle pattern in the daily chart due to decreasing volatility.

The current trend suggests a bullish flag formation, especially as SHIB price rests close to the baseline. If the uptrend can withstand selling pressure and break through the resistance trendline, the meme coin is poised for a surge.

According to the price chart, SHIB could reach the $0.00005401 level by the month's end.