The memecoin market has successfully regained momentum

The memecoin market has successfully maintained its momentum by adding 10% over the past 24 hours with a trading volume of $20.44 billion, a change of +116.84%. As investors evaluate the present market sentiments, many are curious about the future prospects of the top memecoins.

Moreover, questions like “Is this the right time to invest in memecoins?” has taken over the internet by storm. Are you one of many looking for the same? Scroll down to find out more about Dogecoin, Shiba Inu, Pepe memecoins.

DOGE Memecoin Records Multi-Month High

The Dogecoin price has added approximately 8% in 24 hours with a trading volume of $2.70 billion, a change of +65.84%. Furthermore, it has surged 13.84% over the past week and 27.99% in the last 30 days. With a market capitalization of $30.59 billion, it has a market dominance of 0.9399%.

The cross EMA 50/200-day is on the path of experiencing a positive crossover in the 1D time frame. Moreover, the MACD indicator records a similar action with its averages displaying a constant rise. This highlights a bullish outlook for the largest memecoin in the market.

If the market maintains the Dogecoin price above its support of $0.20, this could push the price of this memecoin toward its upper resistance level of $0.243. On the flip side, a bearish action could result in it dropping toward its low of $0.164.

Shiba Inu Price on the Verge of Major Breakout

Following in the footsteps, the Shiba Inu price has added 7.63% in 24 hours with a trading volume of $657.27 million. Adding to this, it has jumped 12.94% in seven days and 26.34% in 30 days. With a trading value of $0.00001505 and a market capitalization of $8.88 billion, it has secured the 15th position.

The Relative Strength Index (RSI) is hovering close to the overbought range and is on the verge of a breakout. Furthermore, the SMA indicator records a bullish crossover in the SHIB memecoin price chart. This suggests a positive outlook for the second largest meme-based crypto.

Breaking out of its resistance level could push the SHIB price toward its upper high of $0.000020. However, if the bears regain dominance, the price of Shiba Inu could plunge toward its $0.00001025 mark.

Pepe Price Adds over 43% in Seven Days!

The Pepe coin price has outperformed top tokens by jumping 15.65% in 24 hours. Furthermore, it has jumped 42.76% this week and 77.87% over the past month. With a market cap of $5.21 billion and a trading value of $0.00001231, it has a market dominance of 0.1591%.

The Moving Average Convergence Divergence (MACD) witnesses a sharp rise in the green histogram with its averages recording a bullish uptrend. On the other hand, the cross EMA 50/200-day experiences a positive convergence. Considering the market sentiments, the Pepe memecoin may record a continuous bullish action next week.

A sustained bullish action could result in the Pepe coin price breaching out of its resistance level of $0.0000140 and heading toward its $0.0000170. Conversely, a strong bearish reversal may result in it plunging toward its lower support of $0.0875.