Meme Coins With a Potential Surge: Dogecoin (DOGE), Samoyedcoin (SAMO), Apecoin (APE), and Shiba Inu (SHIB)

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For the first time in 17 months, the market is witnessing a net capital inflow, breaking the prolonged trend of capital outflows. This change is largely driven by the surge in stablecoins which have seen a positive 90-day net change. This influx of capital, coupled with Bitcoin’s rise to over $35,000 and the anticipation of U.S. regulators approving a cryptocurrency ETF, is contributing to a renewed optimism in the market. In this rejuvenated environment, prominent cryptocurrencies such as Dogecoin (DOGE), Samoyedcoin (SAMO), ApeCoin (APE), Shiba Inu (SHIB), and the emerging ScapesMania, are poised to potentially benefit from these market dynamics.

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Dogecoin (DOGE): Riding the Market Optimism

Dogecoin (DOGE) has been experiencing a mix of consolidation and resilience in the market. According to a recent analysis on FX Empire, Dogecoin (DOGE) price is currently trading around $0.074, marking a 10% decrease from its peak of $0.082 last week.

The current market dynamics show that Dogecoin (DOGE) traders have placed orders to purchase 750 million Dogecoin (DOGE) at the current prices, indicating a strong buying momentum. This is a significant number compared to the amount listed for sale by bearish traders. The bullish dominance in the Dogecoin (DOGE) spot markets suggests a potential for price recovery and stability.

The Global In/Out of the Money data indicates a strong support buy-wall around the $0.07 area, which could be crucial for triggering a Dogecoin (DOGE) price rebound. However, if the bears gain the upper hand, the price could tumble towards $0.06. On the flip side, surpassing the $0.1 mark could face resistance from holders who bought at $0.081.

Samoyedcoin (SAMO): A Fresh Take on Meme Coins

Solana’s unique contribution to the meme coin sector is Samoyedcoin (SAMO). Drawing inspiration from Dogecoin and pivotal figures in cryptocurrency, Samoyedcoin (SAMO) aspires towards community ownership and entertainment value. By targeting an audience broader than just technologically advanced coins – it endeavours to proliferate Solana’s ecosystem.

Currently, Samoyedcoin (SAMO) price ranges between $0.00346 and $0.00604. The 10-Days Moving Average is at $0.00712, and the 100-Days Moving Average is at $0.00371. This indicates a fluctuating yet promising trend for SAMO. The support level is at $0.00187, with resistance levels at $0.00704 and $0.00963, outlining the potential price movement boundaries.

Should Samoyedcoin (SAMO) continue to captivate interest through its NFT collection and community engagement, an upward trajectory in price could manifest – potentially testing resistance levels.

ApeCoin (APE): A Rocky Road Ahead?

ApeCoin (APE) is currently facing a challenging market situation, as indicated by bearish on-chain metrics. According to an FXStreet analysis, the supply of ApeCoin (APE) on exchanges has nearly doubled in the past six months, reaching 50.65 million. 

Despite a 40% gain over the past month, the number of active addresses for ApeCoin (APE) has dropped, signaling a potential correction. The amount of ApeCoin (APE) tokens available on exchange platforms has significantly risen, suggesting holders are preparing to sell and potentially intensifying selling pressure, thus contributing to a downward trend in pricing.

The upcoming ApeCoin (APE) token unlock event on November 17 could be pivotal. With 15.6 million Apecoin (APE), worth $22.93 million, set to enter circulation, this could lead to a significant correction as the market absorbs the influx of new tokens. While there might be a temporary climb in ApeCoin (APE) price leading up to the unlock event, a correction is likely when over 15 million tokens flood the crypto exchanges.

Shiba Inu (SHIB): Gaining Momentum with High-Profile Support

The recent surge in attention surrounding Shiba Inu (SHIB) can be attributed to its affiliation with acclaimed Filipino boxing champion Manny Pacquiao. The Manny Pacquiao Foundation is utilizing Shiba Inu (SHIB) network, Shibarium, for fundraising activities. 

Currently, Shiba Inu (SHIB) price fluctuates between $0.00000688 and $0.00000845. The 10-Days Moving Average is at $0.00000857, and the 100-Days Moving Average is at $0.00000786. The support levels are at $0.00000442 and $0.00000599, with resistance levels at $0.00000913 and $0.00001070 indicating a possible upward movement.

The involvement of a high-profile figure like Manny Pacquiao and the use of Shibarium for charitable purposes could positively impact Shiba Inu (SHIB) market perception. This, combined with the current price trends, suggests a potential for Shiba Inu (SHIB) to test its resistance levels in the near future. However, as with all cryptocurrencies, market volatility and external factors could influence its trajectory.

Conclusion

A diverse array of cryptocurrencies, including meme coins such as Dogecoin (DOGE), Samoyedcoin (SAMO), ApeCoin (APE) and Shiba Inu (SHIB) – along with the emerging token ScapesMania; are potentially poised to benefit from the current crypto market’s renewed optimism: an unprecedented net capital inflow in 17 months. Each digital asset – characterised uniquely and backed by its own community – confronts both opportunities and challenges amidst this evolving landscape. The market pivots on stablecoins’ influence and Bitcoin’s ascension: a shift that not only enriches established meme coins but also cultivates fertile ground for innovative newcomers, exemplified by ScapesMania.

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