DOGE, PEPE, FLOKI Price Prediction as Crypto Market Sees Memecoin Euphoria

Crypto Price Prediction: February witnessed one of the most remarkable monthly market cap gains in the history of cryptocurrency, sparking a shift in discussions towards price-related topics, with a significant focus on Bitcoin, AI tokens, and $PEPE. As per the crypto analytics for Santiment, this surge in interest and investment has brought about speculations that the markets might experience a period of stabilization or flattening after such explosive growth.

🗣️ Following an explosive February full of some of the biggest monthly market cap gains in #crypto‘s history, discussions have increasingly moved toward price-related topics. Mainly, #Bitcoin, #AI tokens, & $PEPE. Markets can flatten for a bit as a result. https://t.co/tGVlwfH9qD pic.twitter.com/K9qYlXa2zr

— Santiment (@santimentfeed) March 1, 2024

The cryptocurrency market has taken a halt from its aggressive recovery in mid-week as Bitcoin price tops at $64000. While the new overhead supply has impacted the majority of the major coins, the Memecoin sectors have witnessed a massive inflow uplifting the popular assets, like Dogecoin (DOGE), Shiba Inu(SHIB), Pepe Coin(PEPE), Floki, etc.

Also Read: Crypto Prices Today: Bitcoin At 62K, Ethereum Above $3400 As SHIB & PEPE Surge Over 50%

Bullish Momentum Builds for Dogecoin as Open Interest Doubles

Amid the broader crypto market rally, the Dogecoin price gave a decisive breakout from the symmetrical triangle pattern, on February 28th. This breakout projects a clear sign that buyers are starting to dominate the market for this asset.

According to data from Coinglass, Dogecoin Futures Open Interest witnessed a remarkable increase in just two weeks. The OI value soared from $533 million to an astounding $1.2 billion, marking a 125% increase that reflects growing investor enthusiasm and commitment to Dogecoin.

Currently, the DOGE is trading at $0.143, after testing the resistance at $0.15. This level has introduced some selling pressure, potentially leading to a slight retracement to the support level at $0.135. 

However, if Dogecoin maintains its momentum beyond this breakout, it’s poised to reach a target of $0.18, as predicted by the symmetrical triangle pattern.

Also Read: Dogecoin Price Prediction As $DOGE Exits From 22-Month Accumulation

Bullish Pattern Signal a Major Trend Reversal In Pepe Coin

Since late February, Pepe, the meme coin inspired by the frog theme, has embarked on an upright rally, bouncing back from a low of $0.00000115. This upward trajectory has resulted in an impressive 280% increase in its price, now trading at $0.00000435. 

Analyzing the daily chart reveals that this rally is forming a classic bullish reversal pattern known as a rounding bottom. This pattern signifies a prolonged period of accumulation, marking a smooth transition from a bearish to a bullish trend.

With the Pepe coin price achieving an 11.53% gain today, it is teasing a critical breakout point at the $0.00000448 neckline resistance. Should this breakout occur, it could significantly boost buying momentum, setting the stage for Pepe to reach a potential price target of $0.00000836.

Also Read: Pepe Coin 17% Rally Sparks Bullish Excitement, Time To Buy Dog-Themed Meme Coins?

Key Support Levels to Watch If Floki Price Enters New Correction

Within a month, the Floki coin witnessed parabolic growth with its price rallying from $0.000027 to $0.000117, registering 338% growth. This upward trajectory gave a decisive breakout from the resistance trendline of a symmetrical triangle pattern, signaling the end of a long accumulation phase.

However, the Floki price experienced a fresh supply pressure at $0.000131 evidenced by the long wick rejection in the daily chart. This resistance may trigger a minor pullback as a massive price hike is often followed by such retracement to recuperate exhausted bullish momentum.

The anticipated correction may find suitable support at $0.000107 and $0.0000992, offering traders a new dip opportunity.

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Sahil is a dedicated full-time trader with over three years of experience in the financial markets. Armed with a strong grasp of technical analysis, he keeps a vigilant eye on the daily price movements of top assets and indices. Drawn by his fascination with financial instruments, Sahil enthusiastically embraced the emerging realm of cryptocurrency, where he continues to explore opportunities driven by his passion for trading

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.