The crypto markets are plunging with a decent margin, indicating the swelling dominance of the bears over the bulls. In the meantime, the popular meme-coins, Dogecoin (DOGE) and Shiba INU (SHIB) have slashed their volatility, maybe to accumulate strength & rise high in the following breakout.
A popular analyst MMB Trader believes both the meme-coins are due for a massive upswing of nearly 120%. Read on!
Dogecoin (DOGE)
The Dogecoin price is not displaying any significant possibilities as it swings within a very narrow region. However, the analyst believes that the ‘pump’ has not ended and soon the price may trigger a notable upswing of at least 60% from the support levels at $0.8134. Rebounding from these levels, the DOGE price is believed to rise notably to hit its first target of $0.1.
After withstanding minor bearish actions, the price may further head towards the next target, stationed at $0.14, 71% distinct from the current levels.
Shiba INU (SHIB)
Shiba INU’s price has undergone a massive upswing since the beginning of 2023 and has risen by nearly 100% to reach $0.00001575 from the lows around $0.00000778. Woefully, the price further underwent a 25% drop of which the token has recovered 5% to trade at $0.00001272 at the moment.
However, the analyst believes the Shiba Inu price has a high potential and the current pullback could be temporary and short-lived. He believes that the price may easily continue from here or from the pivotal levels at $0.00001324. After withstanding some bearish action from these levels, the SHIB price is believed to rise towards the upper target at $0.00001670.
Beyond these levels, a heavy pump is expected that may uplift the Shiba Inu price beyond $0.00002 very soon.
Source: https://coinpedia.org/price-analysis/memecoin-mania-dogecoin-and-shiba-inu-predicted-to-soar-120/