For the previous few days, the price of meme coins has been growing in a mind-blowing manner. The likes of Shiba Inu (SHIB), Pepe (PEPE), Dogecoin (DOGE), and dogwifhat (WIF) respect considered their values climb by astounding figures.
While these four respect led the market’s bullish wave, their performance differed. As an illustration, SHIB’s price has elevated by 126.12% in the last seven days. DOGE, on the assorted hand, jumped by 64.23%. PEPE’s performance was better with a 204.18% amplify, primarily based on CoinMarketCap. Lastly, WIF’s price elevated by 422.67%, making it essentially the most straightforward meme coin of the lot.
Shiba Inu (SHIB) vs. Pepe (PEPE)
Coin Model checked out the SHIB/USD and PEPE/USD price movement on the 4-hour timeframe. In accordance with our evaluation, both meme coins shared a same structure. It is a ways on the total worthy to pronounce that PEPE and SHIB broke out of consolidating round the identical interval however with a puny bit disagreement.
While PEPE was ready to attach it on February 25. SHIB had to wait three days later to pump. Furthermore, the Supertrend indicator flashed a aquire signal for SHIB, indicating that the price skill remains a bullish one.
However, SHIB’s price movement gave the impact to be retracing as the Relative Energy (RSI) showed that the token had become overbought. It was a same case with PEPE whose price also dropped.
At present, SHIB’s rally might decelerate. From a bearish level of view, the rice might per chance drip to $0.000018 as merchants might book profits in the arrival days. PEPE also faced the identical destiny with signs that it might maybe most likely most likely well tumble below $0.0000040.
However, a bullish return might per chance procure out referring to the costs style grand better. In a extremely bullish case, SHIB might per chance rise to $0.000030 while PEPE might rally toward $0.000060.
Dogecoin (DOGE) vs. dogwifhat (WIF)
DOGE price at press time slipped from $0.15 to $0.13. WIF’s price also dropped from $1.70. But no longer like, SHIB and PEPE, DOGE and WIF’s price movement were varied. For WIF, its astounding rise supposed that bulls had kept bears out of the image for a while.
However, Dogecoin bulls, no topic being in regulate, still had bears lurking in the nook. Utilizing the Fibonacci retracement indicator, Coin Model noticed that DOGE’s price might pull assist. As an illustration, the 0.382 Fib level was round $0.12, indicating that the meme coin might per chance expertise a 7.69% drawdown.
This skill decline was also evident in the Superior Oscillator (AO). At press time, the AO displayed red bars, indicating a which which it is most likely you’ll accept as true with downward momentum. If this decline results in a Dogecoin’s price decline, WIF might per chance simply additionally be affected. However, it was unlikely for WIF to drop below $1 in the short term.
Disclaimer: The certainty supplied listed here is for informational and tutorial functions fully. The article does now no longer constitute monetary advice or advice of any form. Coin Model is now no longer to blame for any losses incurred because the utilization of state, products, or products and services mentioned. Readers are told to exercise caution before taking any movement connected to the firm.
