Shiba Inu ($SHIB) leads the latest memecoin surge

by

As a seasoned analyst with years of experience under my belt, I must say that the current surge in the cryptocurrency market, particularly among memecoins, is nothing short of intriguing. Having witnessed the rollercoaster ride of Bitcoin and other major cryptos, I’ve learned to keep an open mind when it comes to these lesser-known assets.

As Bitcoin ($BTC) continues its upward trend again, certain alternative coins (altcoins) are experiencing a surge. It’s worth keeping an eye on the meme coin sector, where Shiba Inu ($SHIB), Dogecoin ($DOGE), and Brett ($BRETT) are among the frontrunners driving this movement.

$SHIB continues to take out the highs

On a daily basis, SHIB appears to be performing well. It’s surged past an upward trendline and has so far cleared all previous highs except for the most recent one at 0.0000407 cents. If it manages to break through the current resistance level of 0.0000305 cents and maintains itself above this point, a push towards the recent high at 0.0000407 cents could commence.

$DOGE building continuation pattern

For the weekly chart of DOGE, we observe an upward trend reminiscent of scaling a mountain over recent weeks. Additionally, it’s worth noting that the price reached and was subsequently repelled at the appealing 0.618 Fibonacci level.

It seems the Dogecoin price could potentially be forming a flag or another consolidation pattern right now. Such patterns often require patience as they unfold, but if it does, there might be a point where resistance is broken and the journey towards its all-time high of $0.74 may commence.

$BRETT lays down price structure on top of support

Brett appears well-positioned on the daily chart. It’s striking how it touched the 0.5 Fibonacci level, only to be turned away. However, the pattern suggests that the structure is forming above a newly established support at $0.19. Anticipate consolidation above this support before another upward move. The upcoming price objectives can be found in the chart.

Read More

2024-12-04 16:11