The memecoin market surges, with top tokens experiencing significant gains. Last week saw a remarkable 22.95% jump, boosting the market cap from $46.01 billion to $56.59 billion. Leading the charge were Neiro Ethereum, Official Trump, Dogwifhat, Floki, and PEPE. Established players like Doge and SHIB also saw impressive growth, exceeding 15% each.

Are you interested in the memecoin market and considering further investment? This analysis explores short-term price predictions for Dogecoin and Shiba Inu.

Dogecoin Reaches New Monthly High!

Dogecoin reached a new monthly high, surpassing $0.18. Intraday trading volume increased by 3.08% to $1.66 billion, marking the fourth consecutive day of positive momentum. This represents a 3.89% increase.

Source: TradingView (DOGE/USDT)

The Moving Average Convergence Divergence (MACD) shows a steady rise on the daily timeframe, with both the 12-day and 26-day Exponential Moving Averages (EMAs) trending upward. The Relative Strength Index (RSI) is approaching overbought territory, suggesting further positive movement for Dogecoin.

Maintaining its position above $0.18 could propel Dogecoin towards $0.20 next week. However, a shift in sentiment could pull it down to $0.165.

Shiba Inu Retests $0.000014!

Shiba Inu, with a market cap of $8.31 billion, experienced a 15%+ increase this week, signaling a strong bullish reversal. Its market dominance rose to 0.27%.

Source: TradingView (SHIB/USDT)

The RSI has retested its average trendline near the neutral point and sharply increased towards overbought levels. The MACD shows a similar trend, indicating continued momentum.

A bullish market could push SHIB past its resistance level of $0.000015, potentially reaching $0.000020. Conversely, a bearish turn could drop it to its support level of $0.00001025.

Conclusion:

Following a brief bearish period, the memecoin market is recovering strongly, with leading coins experiencing double-digit gains. The current market sentiment suggests continued momentum next week.

Also Read: Shiba Inu Records Bullish Reversal! SHIB Eyes $0.000015 Next?

Disclaimer: This analysis does not constitute financial advice. The Crypto Times does not endorse Dogecoin ($DOGE) or Shiba Inu ($SHIB). These tokens were selected based on market and social sentiment. Always conduct thorough research ("DYOR") before investing in cryptocurrencies due to their inherent volatility.