Memecoins
The best meme coins to buy for a 100% increase next month
With the altcoin sector experiencing a huge bullish wave, meme coins are leading the bullish trend. As the best performing sector in 2024, the demand for meme coins is constantly increasing, followed by RWA and AI tokens.
Amid the bull run in these communities and hype-driven coins, top names like DOGE and SHIB suggest a turnaround rally. Furthermore, the relatively new token BRETT is expected to see a massive rally that will bring huge gains.
As the bull market is on the brink, will major meme coins be at the forefront? So, let’s take a closer look at the DOGE, SHIB and BRETT price charts to answer these questions.
Biggest meme coin in a falling wedge
After reaching a yearly high of $0.22, the largest meme coin by market capitalization, Dogecoin, undergoes a correction phase. On a pullback, DOGE price falls from the $0.22 52W high to the descending support trend line at $0.1175.
The downtrend of DOGE price forms a descending wedge pattern and the negative cycle within it breaks below the 200D EMA. However, the meme coin maintained a dominant position above the psychological threshold of $0.10.
Currently, the meme coin is trading at $0.12548 after an overnight jump of 6.05%.
On the technical front, the DOGE price recovery translates into a bullish crossover of the MACD and signal lines. It also delays the looming death cross on the daily chart.
If the bull cycle in the descending wedge gains momentum, the meme coin could reach the 50D EMA at $0.14, triggering a bullish breakout. A breakout rally can lead to a bullish run towards $0.18 or $0.22.
Fall channel for Shiba Inu
On a slippery slope, Shiba Inu token reveals a descending channel on the daily chart. Furthermore, after the formation of the 52W high at $0.00004567, the declining meme coin breaks below the 200D EMA, threatening a death cross on the daily chart.
However, the negative cycle on the daily chart finds initial support at $0.000017 before testing the support trend line. With an early reversal, the meme coin anticipates a comeback. Furthermore, the bullish crossover in the MACD and signal lines strengthens the possibility of a bullish trend.
As the trend momentum increases, the bullish cycle may reach the $0.000025 mark. This will increase the possibility of a channel breakout for a bullish run to $0.000035.
BRETT Breakout Run Eyes 50% Increase
Maintaining a long-term bullish trend, BRETT price action forms a solid support trend line. In the 4-hour chart, the uptrend shows the breakdown of the triangle pattern when it breaks above the short-term resistance trend line.
With the recent bounce from the supporting trend line, the meme coins price increased by 25% and well above $0.15. However, a potential retest of $0.15419 is the next possible move before a price jump.
According to the trend-based Fibonacci levels, BRETT price can reach the $0.23318 mark next month.