Shiba’s Reversal Hints A New All-Time High in These Meme Coins!
The post Shiba’s Reversal Hints A New All-Time High in These Meme Coins! appeared first on Coinpedia Fintech News
A fresh breeze of bullish recovery is visible within the top, and trending meme coins as Bitcoin resurfaces above $63,000. With the WIF and FLOKI token price surge leading the segment, the second biggest meme coin, Shiba Inu, teases a trend reversal.
Will the broader market reversal fuel the next moonshot rally in meme coins in July? Should you consider buying these top meme coins before the bull run begins? Let’s take a closer look at the price charts for a detailed analysis.
WIF Price Reversal With Channel Break Eyes $5
With a bullish reversal, the WIF price undermines the breakdown of the crucial demand zone at the $2 psychological mark. Further, the meme coin has jumped by almost 50% in the last seven days.
Further, the bullish reversal marks the end of the correction phase within a falling channel pattern. As the meme coin gains momentum, the Fibonacci levels hint at an extended uptrend if the buyers surpass the 50% level at $2.43.
Considering the bullish momentum sustained with the broader market uptrend, the WIF price might create a new all-time high in July. Surpassing the $4.58 mark, the $5 psychological milestone seems a suitable target.
FLOKI Meme Coin Delays Trend Reversal From 200D EMA
Fllowing the massive drop in the market price, the FLOKI token undergoes an accumulation phase at the 200D EMA. This marks a sideways shift after the downfall at a crucial support teasing a ptoential comeback rally.
However, the anticipated double bottom reversal is delayed with minor recovery candles near the $0.00015 mark. As per the trend-based Fibonacci levels, the meme coin trades below the 23.60% level with a looming death cross between the 50D and 200D EMA.
Nevertheless, a potential bullish turnaround with a boost from the crypto market recovery can pump the FLOKI price. The uptrend can find $0.00030 or $0.00040 as potential targets in July. However, a bullish breakout of the all-time high can catalyse the bull run to the psychological mark of $0.00050.
Will The Second Biggest Meme Coin Jump 108% In July?
With a declining trend at play, the short-term sentiment is filled with a bearish dominant view for Shiba Inu. However, with a market cap of $10 Billion, it stands as the second biggest meme coin.
The downfall forms a falling channel pattern and warns of a death cross with the declining 50D EMA. Currently, the SHIB price avoids a downcycle to the declining trendline and forms an accumulation range at the $0.00001600 mark.
With an early reversal in the negative cycle, the bull run in Shiba Inu can result in a breakout rally. In such a case, the meme coin surpasses the 52W high of $0.00003584 and potentially hits the $0.000050 mark this month.
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