Some memecoins kicked off April with growth after their plunge during the recent market downturn.
PEPE and SHIB Show Renewed Strength
In 2024, the memecoin asset classes posted significant gains. The current trend among DOGE, PEPE, and SHIB suggests a rediscovery of their upward path. Over the last 48 hours, DOGE price soared past a critical resistance level of $0.170. PEPE registered a 6.23% rebound, followed by a 3.3% drawdown. PEPE's technical indicators suggest potential for more gains if support is found above resistance levels. SHIB showed a 27% trading volume increase despite a 4.22% price drop.
DOGE Rebounds Despite Musk's Statement
New developments could affect price trajectories. SHIB may see a sustained rally after its developer Shytoshi Kusama hinted at bullish projects. A message by Japanese enthusiast KURO sparked interest in SHIB. DOGE was affected by Elon Musk's statement denying plans to use Dogecoin in government projects despite community speculations.
What's Next for the Memecoin Market?
DOGE's rally has slowed, and without support, it could slip to $0.1632. The same projection applies to PEPE and SHIB, which also need support to maintain growth.
The memecoin market has seen both positive and negative sentiments, and future developments depend on community support and overall market trends.
