As the bullish trend in the altcoins market gains momentum, the meme coins are making a comeback. Amidst the recovery, the bull run in the top meme coins like the DOGE and SHIB is presenting long side opportunities.
As the community-driven coins are quick to pick pace, the upside potential is lucrative for the sideline traders. Will the bull run in the DOGE and SHIB prices lead to a 2x surge this month?
As DOGE Clings At $0.12, Will This Meme Coin Skyrocket?
Following the bearish reversal from the $0.22 mark, the DOGE price action creates a resistance trendline and a lower-high trend. With the downfall testing the $0.125 high demand zone, the reversal chances may soon take a bounce back.
Currently, the DOGE price trades at $0.1252 with an intraday gain of 2.71%. Further, the price action reveals a break under the 61.80% Fibonacci level, warning of a crash under the $0.10 psychological mark.
However, the intraday gain and a lower price rejection offer a potential bullish reversal opportunity. Despite the bearish backdrop, the meme coin offers an upside potential of 20% to reach $0.1486.
Will SHIB Price Revert Negative Cycle For 30% Upside?
Following the bull run in early March, the SHIB price trend fails to sustain the uptrend momentum. The lack of zeal leads to a falling channel in the daily chart and drops the Shiba Inu price by 48% in the last 100 days.
Currently, the SHIB price action reveals a lower low formation with the $0.000020 psychological mark breakdown. Further, the meme coin trades at $0.0000188 with an intraday gain of 4.37%, creating a bullish candle above $0.000018.
A potential retest of $0.000020 could increase the chances of an uptrend if it surfaces above the psychological mark. In such a case, an early reversal in the negative cycle can retest the overhead resistance trendline near $0.00002470.
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