Memecoin Mania Reconkning: FLOKI, BONK, and SHIB Follow the DOGE Price Rally

The post Memecoin Mania Reconkning: FLOKI, BONK, and SHIB Follow the DOGE Price Rally appeared first on Coinpedia Fintech News

Ever since the Bitcoin price displayed some strength, the crypto markets have become more hopeful of a strong rally ahead of the quarterly close. With this, the memecoins and the AI tokens have jumped to the forefront, leading the top performers for the day. All of it started with the Dogecoin price rally, which surged above $0.22. Following this, other memecoins like Floki, Bonk, and Shiba Inu have also soared with remarkable numbers. 

Floki (FLOKI) 

• After trading within a narrow range for more than a year, the Floki price has triggered a massive upswing since the beginning of the month

• Although the price failed to surpass the ascending trend line in the first attempt, the recent recovery from 0.5 FIB levels has raised hopes to reach 1 FIB above $0.0003 

• The RSI appears to be bullish and the latest bullish divergence substantiates the bullish claims

• Therefore, now that the price has triggered an 8% jump in the past 24 hours, the momentum is expected to remain elevated and record a double-digit gain soon

Bonk (BONK) 

• The BONK price has been extremely bullish since the last few weeks of 2023, which has resulted in an iconic rally of over 6000% from its lows

• The price triggered a rebound before marking the lows, but the technicals have not yet turned bullish as DMI heads towards the lows

• Therefore, this is a bearish indication, suggesting the price could experience a minor pullback to $0.000025

• However, this could be only for a short time frame, as a significant influx of liquidity could trigger a strong rebound to the key resistance zone around $0.000035, beyond which the hunt for new highs may begin.

Shiba Inu (SHIB) 

• The Shiba Inu price has been under a deep bearish influence throughout 2022 and 2023 and initiated a strong bullish action at the beginning of 2024

• The latest rebound has caused the price to rise back towards the upper resistance zone, flashing the possibility of initiating a fresh bull run

• The Gaussian channel has turned bullish, which means the bulls have outpowered the bearish dominance over the rally

• Besides, the RSI remains within the upper threshold, hence, a rise above $0.00004 appears to be imminent but if bulls maintain strength, the rally could head towards the higher targets.