DOGE – Weekly
Not a big fan of doge, as it’s a bit outdated, but we can’t have a meme post without the OG.
Standing on #9th place on the crypto list, with an ~18 billion market cap, we shouldn’t see much of a move coming in, at most it could double the price, creating a double top or rejecting from 0.7-0.8 fibonacci level. Right now it’s on the 4th wave, and if the support from 0.1$ will hold, we will probably continue with the next impulse.
If it’s a corrective wave, we should see a rejection and most likely not make another top.
SHIB – Weekly
Also people’s favorite from previous bullmarket, Shib managed to take a position in top 20, with a capitalization of 10 billion market cap. With such high market cap, at best we could see a 3-4x from the current prices in the top of the bullmarket.
Shib has almost the same graph as DOGE and probably as other meme coins, as they’ve moved together over the past months, therefore the analysis holds for this as well.
Currently at a support level, we need to see the price consolidating around it, and since we have an imbalance on the left side that hasn’t been resolved yet, we can still see the price going lower.
A fakeout below the support, followed by a quick recovery (and hopefully ending with a bullish engulfing candle or big volumes) would be interpreted as bullish.
MEME – Daily
Meme is currently on rank 146, with close to 400k market cap, having some place to grow from here. Although other meme coins have benefited from a growth in March, MEME hasn’t seen as much interest.
MEME has lost the current support and is at the end of the corrective wave, but we do have other targets lower. We see a bit of consolidation below the resistance (previous support) which means we may push further and break it, but we don’t have such confirmation yet.
It can also be a flag made on a corrective B-wave, pushing us lower, or we can go towards the FVG created on the move lower. Right now these are just possible scenarios, so we’ll need to see what the price will do.
Personally, I would like to see some buy volumes to confirm that there’s some interest on this coin.
WIF – Daily
WIF is another new coin that entered top 50, with close to 2 billion market cap.
The price action looks better than the other ones, currently at the support level.
On a lower timeframe, we can’t be bullish until we break the trendling and the old support at 2.5$.
BOME – Daily
BOME is close to enter top 100 with a 600k market cap, and it has some place to grow from here.
Similarly to WIF, it’s at the end of the correction.
What i dont like about this are these massive red candles, implying that there’s some on-going selling pressure. Combined that with low volume, we don’t see much interest for this coin.
The trend will change once we move past 0.011$, and I will be careful to not keep any meme coins if they lose their support.
On a smaller timeframe (4h), we may see the price going towards the last imbalance created, or push the price below the equal lows to grab more liquidity.
