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- BONK was not overbought, signaling that the price of the token could hit $0.00002852.
- PEPE might retrace but DOGE might be set to hit $0.17 soon.
- The bullish momentum displayed on the SHIB’s 4-hour chart suggested a rise to $0.000025.
At a time when most cryptocurrencies are consolidating, meme coins are proving that this market condition is a supercycle for them. This was evident from the prices shown on CoinMarketCap.
According to the price tracking platform, Bonk’s (BONK) price increased by 6.22% in the last 24 hours. Pepe (PEPE) jumped by an incredible 20.45%. Dogecoin (DOGE) rallied by 6.86% while Shiba Inu’s (SHIB) price increased by 6.96%.
This rebound suggested that many other categories might not be able to outperform the meme section by the end of the bull market. But what are the price expectations going forward?
Bonk (BONK)
BONK’s attempt to key into the $0.00002668 resistance has been rejected as shown on the 4-hour chart. At press time, the price of the token was $0.00002405. However, bulls have kept a defense of the $0.00002196 support, ensuring that the price does not go below the region.
Furthermore, the Relative Strength Index was at a good buying level but also indicated that BONK was not overbought. This momentum, if sustained, could take BONK’s price to $0.00002852 in the short term.
BONK/USD 4-Hour Chart (Source: TradingView)
In addition, the Awesome Oscillator (AO) was positive, indicating increasing upward momentum for the token. If the AO reading, increases, the BONK’s price might follow, and a rise to the target mentioned above could be validated.
Pepe (PEPE)
PEPE’s increase in the last 24 hours ensured that the token hit a new all-time high of $0.000011. As of this writing, the price had retraced a bit to $0.000010. The slight reversal could be linked to the momentum shown by the token.
For instance, the RSI was at an overbought point, meaning traders might soon start to take profits. If this is the case, the price of PEPE might drop to $0.0000009943. In a highly bearish situation, the price of the token might slide to $0.0000077.
PEPE/USD 4-Hour Chart (Source: TradingView)
But that might seem unlikely in the short term. As it stands, the Supertrend did not indicate a sell signal on the chart, suggesting that the bearish thesis could be invalidated, and PEPE might hit $0.000012.
Dogecoin (DOGE)
The price of DOGE was $0.15 at press time. A look at the Exponential Moving Average (EMA) suggested that the coin could trade higher. One of the reasons is due to the golden cross formed on the 4-hour chart.
At press time, the 9 EMA (blue) had flipped the 20 EMA (yellow), indicating a bullish trend. The last time a golden cross appeared was in the first week of May.
Days after this pattern, the price of Dogecoin jumped to $0.17. Going by that outcome, it is likely that DOGE could produce a similar performance. Hence, a possible rise to $0.17 could be next in the short term.
DOGE/USD 4-Hour Chart (Source: TradingView)
Shiba Inu (SHIB)
With solid support at $0.000021, SHIB was able to rise past the $0.000023 resistance. Following this pattern, the next target for SHIB could be a rise to $0.000025. This was indicated by the Moving Average Convergence Divergence (MACD).
SHIB/USD 4-Hour Chart (Source: TradingView)
At press time, the MACD was positive, suggesting bullish momentum for SHIB. Beyond that, the 12 EMA (blue) had risen past the 26 EMA (orange) while reinforcing the bullish prediction. If bulls sustain this momentum over the coming days, a rise to $0.000030 could be possible.
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