Memecoins
Dogecoin and other dog-based meme coins Bullish outlook for June
Most dog-based meme coins, including Dogecoin, have had a good rally this May after undergoing a correction in early April. But this is just the beginning, as the cryptocurrency summer is about to hit the cryptocurrency market, causing… altcoins are mobilizing this June. The excitement is real, with many predicting the dominance of dog-meme coins in June.
In this blog, we take a look at Dogecoin and the rest of the Dog meme coins bullish outlook for June.
Dogecoin price will rise to $1 this June
Dogecoin, the most preferred Dog themed meme coin, it’s all set for a 700% price rally, according to Mags, a cryptocurrency trader. In a recent post on
Mag’s latest bullish prediction for Dogecoin came true when the price increased 170x, and now the prediction is for 7x gains. He also revealed that he has started picking DOGE to make 7X if the charts follow his analysis. If the prediction comes true, DOGE will trade around $1.17, currently at $0.1671.
$DOGE I’m about to go parabolic…
In the last cycle, I shared Dogecoin before it surged 170x.
I’ve been accumulating Dogecoin for the past few months and my bags are full.
I expect a 7x return this cycle. See you at $1+ 🫡 pic.twitter.com/OeXdDMpJDZ
— Mags (@thescalpingpro) May 25, 2024
Many similar predictions favor the rise in prices of Dogecoin and dog-meme coins for the next month. Ali, a famous cryptocurrency analyst, also spoke about the same. According to him, the price will rise closer to the $1 mark. Furthermore, Captain Toblerone talked about a price increase of 1300%, pushing the DOGE price to $1.50 with a previous drop to $0.108.
Read also: Dogecoin ETF (DOGE) hype triggers mixed growth metrics
Finally, whale activity also indicated the same. Data from IntoTheBlock revealed an increase in whale accumulation with a 2.64% increase in large transactions. This increased involvement of whales pushes the cryptocurrency bullish, and the same could happen for whales Dogecoin price. It started growing with a 28% increase in trading volume.
Bullish outlook for all dog-based meme coins
The effect of Dogecoin price will be visible in the case of the rest of the dog-based meme coins such as Shiba Inu, Floki Inu, dogwifhat BONK and many more. Furthermore, their price charts indicate bullish sentiments for the next few days.
Shiba Inu
Shiba Inu, also represented by the Dogecoin killer, has made a name for himself in the cryptocurrency market with substantial gains over the years. Just recently, it came to attention that a Shiba Inu dealer he turned $2,700 into $1.1 million in 3.5 years, justifying how patience is the key.
Whales are also active in the Shiba Inu case as large Shiba Inu transactions increased 290% from $1.3 trillion to $3.57 trillion in SHIB tokens. Additionally, transaction volume increased from $29.93 million to $92.04 million. This finally raised the issue SHIB price to $0.00002607 before MT Gox’s Bitcoin transaction instability took over, bringing the value down to $0.00002541. However, bullish sentiments for SHIB will aid price recovery and earnings over time.
FLOKI
FLOKI is already bullish with gains of 11% in the last 24 hours due to the Perpetual futures trading on Coinbase for this meme coin on May 30th. Now, FLOKI price it is only 12% away from its all-time high with a current value of $0.0003019, which is a two-and-a-half-year high. With this, FLOKI price is expected to reach $0.00058 in June.
BONK
BONK’s 12% price rise brought it closer to its ATH record of $0.00004704, set just three months ago. After a week from the correction, the VERY GOOD price it finally turned bullish this month. At the time of writing, it is trading at $0.00004163, after a 64% increase. Analysts believe that Bonk price will rise to $0.00008321 in the next few days if the trend continues.
With this note and a similar prediction for its other Dogecoin brethren, June is officially the bullish month for these meme coins. Even though there are days left until the start of the month, technical indicators have already revealed the best investment option for June.
Keep reading Best Cryptocurrencies to Buy Under $2 to Make Millions