As Dogecoin and Shiba Inu remain complacent amid the stir generated by the ongoing German and Mt.Gox Bitcoin sell-offs, one crypto expert foresees a meme coin surge on the horizon.
This comes as both Dogecoin and Shiba Inu have seen losses today, falling 0.43% and 0.52% respectively.
However, while Dogecoin has done little to recoup its losses since last Thursday, posting a 3.07% loss, Shiba Inu seems to be making headway at a 6.42% gain.
However, this small victory does not account for its losses over the past month, Dogecoin is down 22.80% while Shiba Inu is 25.62%.
But recent price action may be about to change.
Crypto Expert Sees Meme Coins Making “New Highs” – Are Dogecoin and Shiba Inu the play?
Reputable Crypto expert Andrew Kang shared a bullish outlook on meme coins in a July 7th X thread, highlighting their potential to make “new highs.”
Throughout the posts, Kang shared an overall bearish view of the crypto space at large, citing his belief that “ 98%+ of altcoins topped for the cycle.”
However, he remains optimistic that a “handful of coins” may make some new highs in the last quarter of 2024 to the first quarter of 2025. Specifically, he cited meme coins as the most likely candidates:
The most common mistake you see in crypto markets is buying too early when the trend has inflected from up to down
Corrections from big market structure breaks are always deeper and longer than most expect
You do not buy when a few people are bearish 10% off BTC highs. Some… https://t.co/8vLwKXBa4G
— Andrew Kang (@Rewkang) July 7, 2024
However, he urged traders to be “selective” in their meme coin investments, given the plethora of coins available.
Given this prospect, a closer look at the Dogecoin and Shiba Inu charts may suggest that they are not the play to make.
Looking at the bigger picture, the 1-day scale reveals that Dogecoin’s 30DMA, in a strong downtrend, has breached below the 200DMA earlier this week.
Significantly, this is the first time the 30DMA has crossed below the 200DMA’s strong uptrend since last November. The recent bearish market sentiment has overpowered the wider uptrend.
It appears that Shiba Inu has too lost its footing.
This crossover, especially while the 200 DMA has maintained a bullish uptrend, is significant. It highlights the potential of a reversal, we may very well be in bearish territory – the prospect of a new all-time high seems slim.
A warning heeded by other experts, who note that Dogecoin and Shiba Inu have seen much of their attention “sucked out” by other meme coins, reflected in their recent disappointing price action.
Therefore “selective” traders may do well to consider their options. More significantly, one meme coin seems to be capturing a lot of mindshare recently.
Traders Are Looking To This New Meme Coin
The meme coin landscape has evolved. The best meme coin opportunities now leverage real utility alongside a strong community.
As the leading hype-based coins reach multi-billion dollar market caps, their biggest gains are behind them, and traders know it.
Therefore, it is no surprise that Pepe Unchained ($PEPU) is on their radar.
Pepe Unchained is a meme coin that transcends conventional utility. It addresses two of the most significant pain points in the current crypto landscape – transaction speeds and fees.
This liberated evolution of Pepe operates on its own Layer 2 chain, freeing itself from Ethereum’s shackles, offering lower fees and 100x faster transaction speeds.
It’s not just a meme coin, it’s a memechain! Something that may be credited to its instant success, raising over $3 million in its presale so far.
Another chain broken!
Pepe officially hits $3M! Thank you for the incredible support. The journey is just beginning. pic.twitter.com/yySoWoXaCa
— Pepe Unchained (@pepe_unchained) July 10, 2024
This confidence can also be attributed to Pepe Unchained’s commitment to transparency. It has undergone two audits and features its own block explorer, allowing users to track all transactions on its unique chain.
At a temporary fixed presale price of $0.0082596, those who act quickly stand to benefit the most. Investors are currently earning an impressive 593% APY. This presents a valuable passive income opportunity, even amidst recent market volatility.
Join the Pepe Unchained community on X and Telegram to stay up to date on the latest announcements.
Buy $PEPU Now
The post Crypto Expert Forecasts Meme Coin Surge: Will Shiba Inu and Dogecoin Price Hit New Highs? appeared first on Cryptonews.
