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A massive growth recently recorded in the new meme cryptocurrency, PEPE, brought the investors’ attention back to Memecoins and their potential to offer remarkable returns on investment. Thus, if you have missed the Pepecoin rally, here are some of the top meme coins showing a bullish setup to encourage a sustained bull run.
Dogecoin(DOGE)
Source- Tradingview
By the press time, the Dogecoin price currently trades at the $0.0783 mark and is down 89.39% from its All-Time High of $0.737. However, the weekly chart shows the prevailing downtrend has turned sideways and reflects the exhausted bullish momentum.
Moreover, this sideways trend shows the formation of a symmetrical triangle pattern, offering an excellent chart pattern to kickstart a bullish recovery. A potential bullish breakout from the pattern’s resistance trendline will offer buyers a significant launchpad and signal an early sign of trend reversal.
A predetermined target for this pattern could be around $0.025, but with sustained buying, the Dogecoin price prediction states , the price may continue to chase the ATH mark.
Shiba Inu(SHIB)
Source- Tradingview
Similar to Dogecoin, the Shiba Inu coin price reveals the formation of a symmetrical triangle pattern. The coin price rebounded twice from both the converging trendline of this pattern indicating the traders respect this pattern and may follow its potential target.
As of now Shib price trades at the $0.0000099 mark and 88.85% down from its ATH of $0.00008845. A weekly candle closing above the trendline will be the key signal for trend reversal and may drive this memecoin above the $0.000025 mark.
If the bullish trend remains intact, the Shiba price could revisit the ATH peak.
Floki(FLOKI)
Source- Tradingview
The Floki coin price is the weekly time that shows a texted book example of a famous bullish reversal pattern called cup and handle. This memecoin is 90.85% down from the $0.0003437 All time high and is currently trading at $0.0000315 and forms the handle portion of the pattern.
This pattern is usually spotted at market bottoms and is used to find multi-bagger assets. In theory, a bullish breakout from the pattern’s neckline gives 5 to 6 times the distance between the neckline and the cup bottom as the target. Thus, if Floki price coins breach the pattern neckline resistance, the buyers are more likely to drive a sustained recovery to rechallenge the ATH ceiling.
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