Cryptocurrency Specialist Predicts Rise in Meme Coins: Are Shiba Inu and Dogecoin Set to Reach New Peaks?

As Dogecoin and Shiba Inu remain unperturbed amidst the turmoil caused by the ongoing German and Mt.Gox Bitcoin sell-offs, a cryptocurrency analyst anticipates a potential surge in meme coins.

Currently, both Dogecoin and Shiba Inu have experienced declines today, with losses of 0.43% and 0.52% respectively.

Despite Dogecoin’s struggle to recover from its losses since last Thursday, which recorded a 3.07% drop, Shiba Inu appears to be making progress with a 6.42% increase.

Nonetheless, this minor gain does not offset its losses over the past month, with Dogecoin down 22.80% and Shiba Inu down 25.62%.

However, recent price movements may indicate a shift is imminent.

Crypto Expert Predicts Meme Coins Could Reach “New Highs” – Are Dogecoin and Shiba Inu the Right Choice?

Renowned cryptocurrency expert Andrew Kang expressed an optimistic perspective on meme coins in a July 7th X thread, emphasizing their potential to achieve “new highs.”

Throughout his posts, Kang maintained a generally pessimistic view of the broader cryptocurrency market, asserting that “98%+ of altcoins have peaked for the cycle.”

Nevertheless, he remains hopeful that a “select few coins” could reach new highs in the last quarter of 2024 to the first quarter of 2025, specifically mentioning meme coins as the most probable candidates:

The most frequent error observed in crypto markets is purchasing too early when the trend shifts from upward to downward.

Corrections following significant market structure breaks tend to be deeper and longer than most anticipate.

One should not buy when a small number of individuals are bearish 10% off BTC highs. Some… https://t.co/8vLwKXBa4G

— Andrew Kang (@Rewkang) July 7, 2024

He advised traders to be “selective” in their meme coin investments, considering the vast array of coins available.

In light of this outlook, a detailed examination of the Dogecoin and Shiba Inu charts may imply that they are not the optimal choices.

From a broader perspective, the 1-day chart indicates that Dogecoin’s 30DMA, currently in a pronounced downtrend, has fallen below the 200DMA earlier this week.

Notably, this marks the first instance of the 30DMA crossing beneath the 200DMA’s strong uptrend since last November. The prevailing bearish market sentiment has overshadowed the broader uptrend.

It seems that Shiba Inu has also lost its momentum.

This crossover, particularly while the 200 DMA has sustained a bullish uptrend, is significant. It underscores the possibility of a reversal, suggesting we may be entering bearish territory – the likelihood of a new all-time high appears minimal.

This caution is echoed by other analysts, who observe that Dogecoin and Shiba Inu have had much of their attention “drained” by other meme coins, as reflected in their recent underwhelming price performance.

Consequently, “selective” traders might benefit from evaluating their alternatives. More importantly, one meme coin seems to be gaining considerable attention recently.

Traders Are Focusing on This New Meme Coin

The meme coin landscape has transformed. The most promising meme coin opportunities now incorporate genuine utility alongside a robust community.

As the leading hype-driven coins achieve multi-billion dollar market capitalizations, their most significant gains are likely behind them, and traders are aware of this.

Thus, it is not surprising that Pepe Unchained ($PEPU) is capturing their interest.

Pepe Unchained is a meme coin that goes beyond traditional utility. It addresses two of the most pressing challenges in the current cryptocurrency environment – transaction speeds and fees.

This innovative evolution of Pepe operates on its own Layer 2 chain, liberating itself from Ethereum’s constraints, providing lower fees and transaction speeds that are 100 times faster.

It’s more than just a meme coin; it’s a memechain! This may contribute to its rapid success, having raised over $3 million in its presale thus far.

Another chain broken!

Pepe officially reaches $3M! Thank you for the tremendous support. The journey is just beginning. pic.twitter.com/yySoWoXaCa

— Pepe Unchained (@pepe_unchained) July 10, 2024

This assurance can also be linked to Pepe Unchained’s dedication to transparency. It has undergone two audits and features its own block explorer, enabling users to monitor all transactions on its unique chain.

At a temporarily fixed presale price of $0.0082596, those who act promptly stand to gain the most. Investors are currently enjoying an impressive 593% APY. This presents a significant passive income opportunity, even amid recent market fluctuations.

Join the Pepe Unchained community on X and Telegram to stay informed about the latest updates.

Buy $PEPU Now

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