A prominent analyst has shared an optimistic forecast for MEW, a memecoin on the Solana blockchain, sparking interest among traders alongside trends in Dogecoin and Shiba Inu.

How Will MEW Perform Soon?

The analyst, known by the name Bluntz, informed his 283,800 social media followers of MEW’s recent trading pattern, which resembles a symmetrical triangle. This suggests a possible imminent price increase. Should MEW break through its current resistance, it could potentially reach a price point of $0.011, indicating a bullish trend ahead.

Is Dogecoin a Smart Investment?

Bluntz cautioned against disregarding Dogecoin, calling it a significant player in the crypto arena, despite the rise of numerous new meme coins. He pointed out that DOGE has the potential for dramatic price increases, especially in correlation with Bitcoin’s performance, highlighting its historical ability to surge up to 30 times within weeks during high market activity. Bluntz also noted that Shiba Inu has recently surpassed a resistance level, which may signal the end of its downtrend, thus improving its chances for growth in early 2024. He mentioned that for those who missed out on DOGE, SHIB or FLOKI could present viable investment opportunities.

Current Cryptocurrency Prices

MEW currently trades at $0.00904. Dogecoin is priced at $0.145, up by over 7% in the past day. Shiba Inu is trading at $0.000019. Traders are encouraged to stay vigilant regarding market fluctuations and technical indicators. The analyst’s predictions, while positive, should be tempered with caution as market dynamics can shift rapidly.

Although there are positive forecasts for MEW and other memecoins, traders should exercise caution and consider the rapidly changing market conditions.