Meme Coin Watch: SHIB, DOGE, PEPE Up While BONE Faces Headwinds

• If SHIB can maintain its support at $0.0000070, it could look to target levels above $0.00001.
• Similarly, if DOGE remains above $0.06, it could move towards the next resistance around $0.06344.
• Both PEPE and BONE are challenging key resistance levels after they recently rebounded from major support levels.

Over the past 24 hours, most of the popular meme coins such as Shiba Inu (SHIB), Dogecoin (DOGE), and Pepe (PEPE) saw their prices rise, but Bone ShibaSwap (BONE) experienced a price decline despite its success over the past week. However, all 4 tokens still have the potential to see their prices rise in the coming days if things go well.

Shiba Inu (SHIB)

Since mid-April of this year, Shiba Inu (SHIB) has been experiencing a volatile journey in the cryptocurrency market, with its price fluctuating between the lower end at $0.0000068 and the upper end at $0.0000076. At press time, the meme coin was worth about $0.00000725 after its price experienced a slight 0.50% increase in the past 24 hours of trading.

However, SHIB’s price was still in the red by more than 10%, which highlights the current pessimistic sentiment prevailing around the meme token. If a bearish breakout for SHIB ends up happening, the cryptocurrency’s price might aim for the June low, which stands at $0.000006.

On the flip side, should Bitcoin (BTC) undergo a rally surpassing $27K, it could serve as the trigger for an unforeseen bullish upswing for SHIB. Additionally, should SHIB successfully maintain its support at $0.0000070, it has the potential to trigger a shift in sentiment and possibly facilitate a price rebound, targeting levels above $0.00001.

Dogecoin (DOGE)

The price of Dogecoin (DOGE) also only recorded a slight 0.21% uptick in its price throughout the past day, which left it trading hands at $0.06068 at press time. The price of the meme coin did, however, fall by more than 2% throughout the past week.

The price of $0.06 holds significance for the leading meme coin as it serves as a psychological milestone for both investors and traders. Whenever DOGE has experienced a decline to this level, it has consistently demonstrated the ability to recover, creating a sense of reliability around this price point.

The fact that DOGE’s volume has remained relatively stable could highlight the strength of the $0.06 support level. The token’s capacity to sustain this price level also has the potential to act as a catalyst leading to an upward price move for DOGE to the next resistance around $0.06344.

Pepe (PEPE)

Pepe (PEPE) was able to score a spot on CoinMarketCap’s trading list after its price was able to climb by more than 4% in the past 24 hours. As a result, the token was worth about $0.0000007377 at press time.

In addition to this, PEPE’s price managed to increase by 17.48% in the past seven days. However, the meme cryptocurrency suffered losses of 11.92% in the past month.

PEPE’s price rebounded off of the key support level at $0.0000005830 on 22 September 2023. Since then, it has been in a positive sequence that has lasted for multiple days. Subsequently, the meme coin’s price was attempting to break above the barrier at $0.0000007520 at press time.

If it is able to break above this significant mark, then it may continue to rise to the next major resistance level at $0.0000009809 in the following few days. Conversely, PEPE failing to close a daily candle above $0.0000007520 within the next 48 hours could result in its price retracing back down to the aforementioned $0.0000005830 support.

Bone ShibaSwap (BONE)

Out of all the more popular meme coins, Bone ShibaSwap (BONE) was one of the few that saw its price decline over the past 24 hours. At press time, BONE was worth $0.8667 after its price slipped 3.62%. However, its success earlier in the week was still evident in the fact that its weekly performance remained in the green by more than 7%.

Meanwhile, BONE followed somewhat the same trend as PEPE over the past week. Similarly, it had rebounded off of the key support at $0.7675 during this period and has been in a positive sequence ever since. However, BONE was able to break above a key resistance level over the past 48 hours, but has since pulled back to trade back below it.

Through the course of the previous 2 days, BONE was able to overcome the $0.9065 mark, but sellers forced its price back down. Nonetheless, the meme coin’s price could still rise to $1.0215 in the next week if it is able to close a daily candle above $0.9065. Conversely, failure to close above this level in the next 72 hours could lead to BONE falling to $0.7675.

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