Bitcoin Rally Resonates in Memecoin Markets: What Are the Next Moves of Pepe Coin (PEPE), Dogecoin (DOGE) and Shiba Inu (SHIB)?

On Oct 31, 2023

The latest surge in Bitcoin has thrown memecoins back into the spotlight, with Pepe Coin (PEPE) taking the lead, rocketing up by almost 60% and hitting its highest mark since the summer. Dogecoin (DOGE) and Shiba Inu (SHIB) are riding the wave too, both clocking in noticeable gains.

Amidst this landscape, ScapesMania (MANIA) stands as a nascent project, distinguished by its innovative gaming ecosystem and the inclusion of DAO governance. With its enticing presale incentives and a promising framework, MANIA has garnered attention, defying the conventional memecoin narrative.

As the crypto world gets swept up in this resurgence of activity, it’s clear that while there’s excitement in the air, the volatility of the market is still very much a reality.

Promising Picks Amid Market Upswing:

Scapesmania (MANIA) is piquing interest for their potential to offer something more steady in the ever-shifting landscape of cryptocurrency;
Pepe Coin (PEPE) has its holders in a precarious position, with many awaiting a significant market shift to recoup losses;
Dogecoin (DOGE) hints at potential undervaluation, suggesting a possible rebound if market conditions remain favorable;
Shiba Inu (SHIB) now teeters on a delicate balance, with its future hinging on the community’s strength and market dynamics.

While some are facing an uncertain future, the trajectory of a presale project is far easier to predict. ScapesMania (MANIA) is a well-balanced, meticulously designed project that acts as a gaming ecosystem. Through DAO governance, backers will be able to influence and benefit from a multi-billion-dollar industry. A wide range of features paired with the best technology, a professional team, and a long-term, highly ambitious vision can make ScapesMania the next big thing in crypto. Presale discounts and stage bonuses only add to the project’s appeal.

Presale is Live Now – Join Now for a Chance to Benefit with MANIA

Backed by an award-winning developer crew, ScapesMania stands for transparency: every member’s social media profile is public. The project can achieve this not just by bringing big innovation to the game, but by putting its community front and center. Driving customer engagement and making sure that everyone benefits through great tokenomics and generous rewards is what makes ScapesMania the project with a bright future ahead.

Presale is Live, Learn More About Major Benefits

Pepe Coin (PEPE): Investors Await Market Shift – What to Expect

Pepe Coin (PEPE) has recently taken the crypto stage by storm, experiencing a remarkable surge in value over the past week. Currently, the coin is trading in a critical zone, nestled between $0.0000007977 and $0.0000014244.

Source: TradingView

Despite these impressive gains, a deeper dive into the data shows that many PEPE holders are still in the red, awaiting a significant market shift to recoup their losses. Traders are on the edge of their seats, eagerly watching for what move Pepe Coin (PEPE) will make next.

On the bullish side, the on-chain metrics of PEPE are painting an intriguing picture. The substantial increase in active addresses and new participants flocking to the network between October 19 and October 25 showcases a burgeoning interest and could act as a catalyst for further price increases.

Source: IntoTheBlock

If the current momentum continues and Pepe Coin (PEPE) breaks through $0.0000014244, targeting the subsequent resistance at $0.0000017034 becomes a plausible scenario. Additionally, the potential involvement of whales could also work in favor of the bulls. If they are indeed accumulating and decide to hold, it could provide the necessary support to propel PEPE to new heights.

Source: IntoTheBlock

The bearish scenario for Pepe Coin (PEPE) could see a retraction from its current position, potentially finding support back at $0.0000007977 or even dropping lower to test $0.00000045. The market’s volatility, coupled with the majority of holders being in a loss position, could trigger a sell-off, putting downward pressure on the price. The presence of whales in the PEPE ecosystem could also play a significant role: if they decide to offload their holdings, it could send the price tumbling.

Dogecoin (DOGE) has been traversing a volatile path recently, currently finding itself trading between $0.0676 and $0.0703, all while casting speculative glances towards $0.0731. The 3-10 day MACD oscillator shows signs of stalling at $0.0734, indicating a potential loss of momentum in the upward movement. The recent dip in price to just below $0.068, representing a 3% loss in 24 hours, echoes the larger market’s minor setback. Despite this, DOGE has managed a 14% return in a fortnight, though it’s crucial to acknowledge the over 40% loss it has suffered over the last year, positioning the altcoin as oversold and potentially undervalued.

Source: TradingView

From a bullish perspective, the indicators suggest that Dogecoin (DOGE) could be gearing up for a rebound, especially if the broader market continues on an upward trajectory in the coming weeks. The fact that DOGE is holding above its 1-month low of $0.0576 and has seen a fortnight of gains could attract buyers looking to ‘buy the dip.’ If the asset manages to break through the immediate resistance at $0.0703, it could set its sights at $0.0717, and potentially target the third level resistance at $0.0731, a point underscored by the 1-month high of $0.0745.

However, if bearish pressures prevail and Dogecoin (DOGE) loses its footing above the current support level of $0.0676, it could test the waters down at the second support point at $0.0661, and possibly dip even lower to the third support point at $0.0648. Such a scenario would require close monitoring of the 9-day and 40-day moving averages, as price crossings at $0.0659 and $0.0619, respectively, could provide additional insights into the strength of bearish momentum.

Shiba Inu (SHIB) has been the center of attention recently, almost showcasing a 10% increase in value over the past week and hitting its highest price point since August.

Source: CoinMarketCap

As of the current market scenario, SHIB is trading between $0.0000078 and $0.0000082. This precarious position has left the token dancing on a thin line, caught in a tug-of-war between the promise of a rally and the threat of a retreat.

Looking at the bullish scenario, if Shiba Inu (SHIB) manages to break through the first resistance point, it could aim for the 0.0000083 level, the second resistance point. A sustained positive momentum could even take it towards challenging the $0.0000086 level and potentially retest the 13-week high at $0.0000113.

Source: TradingView

But if SHIB faces selling pressure and breaks below $0.0000078, it might target the next support point at $0.0000075, and further downside could see it testing $0.0000074. Technical indicators such as the MACD oscillator stalling and price movements around various moving average points introduce elements of uncertainty, indicating that traders should be prepared for potential volatility. In such a scenario, the long-term sustainability and fundamental strength of Shiba Inu, backed by its robust community and active participation in token burns, become crucial in preventing a significant downtrend.

In the swirling world of memecoins, Pepe Coin (PEPE) leads with a dramatic surge, while Dogecoin (DOGE) and Shiba Inu (SHIB) also enjoy noticeable upticks driven by the bullish trend of Bitcoin.

However, the story isn’t uniformly rosy: many PEPE holders anxiously await market shifts to reclaim losses, DOGE navigates a volatile path hinting at potential undervaluation, and SHIB, after a stellar week, now finds itself at a critical juncture, its trajectory intertwined with market dynamics and its strong community.

The memecoin spotlight shines brightly, but inherent market volatility means traders should proceed with cautious optimism. The stage is set, the players are in motion, and the crypto community watches with bated breath as these tokens dance on the edge of prosperity and uncertainty.

Disclaimer: This is a sponsored article and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.