Despite the ongoing altcoin season, Bitcoin has taken a breather while momentum builds behind meme coins primed for their characteristic volatile rallies. However, the action seems slower versus past cycles – presenting a window for savvy investors to position ahead of the real mania.
With the Bitcoin halving now 8,757 blocks away, the last leg before prices historically skyrocketed, we’re firmly in the “pre-halving” rally. The top meme cryptos like Dogecoin (DOGE), Shiba Inu (SHIB), and Floki Inu (FLOKI) look poised for major jumps as the bull run keeps accelerating into 2024.
Also read: Ethereum Surges Towards $3,000: Can ETH Hit $5,000 Next?
Dogecoin (DOGE)
The original meme coin, Dogecoin, is currently trading around $0.08619 following a minor pullback candle. DOGE is currently 88.2% down from its all-time high and indeed has a long way to go.
With 2024 looking bullish for the cryptocurrency market, the OG meme coin is likely to accelerate and pump higher.
Shiba Inu (SHIB)
As the second-largest meme crypto, SHIB flashed a positive signal by breaking its own falling wedge pattern and reclaiming the 50-day EMA, avoiding a dreaded death cross downturn in the process. With trading activity resurfacing at recent recovery highs, current prices offer an opportunistic entry spot before the next explosion higher.
Now back in an official uptrend with its 200-day EMA sloping upwards, Shiba Inu seems poised to retest its psychological $0.00001 level soon. From there, technical projections call for a concerted rally reaching as high as $0.000015 if momentum holds up.
Also read: Cardano (ADA) Could Hit $1; Here’s The Timeline
Floki Inu (FLOKI)
Source: StormGain
Showing high momentum, FLOKI has been posting outsized gains relative to its peers after breaking out of a symmetrical triangle pattern. The meme coin also managed to flip previous resistance levels into support during this move.
A bullish outlook opens the door for Floki Inu to massively outperform Dogecoin and Shiba Inu in February, with price targets upgraded to $0.000042 if current growth rates persist on surging volumes.
So while meme mania has been relatively subdued recently, technicals and historicals suggest this calm offers the perfect backdrop to position for when real FOMO kicks back into high gear later this year. Targeting the top altcoins in this category with accelerating traction seems like a strong bet to capitalize on the next parabolic spike.
Credit: Source link