- 1 The PEPE price retested the 100-day EMA and could revert gains soon.
- 2 The SHIB price hovered near its crucial support mark of $0.00001800.
- 3 WIF memecoin’s price retested the range support zone and might pull back ahead.
Many crypto traders and investors were interested in memecoins since some top-performing cryptos delivered impressive returns. Some memcoins have witnessed severe demand among investors in the past few weeks. Since the beginning of 2024, PEPE, SHIB, and WIF have gained attention and rewarded their investors.
Amidst the market’s bearish sentiments and correction in the recent sessions, the top memecoins have continued to sprint on the bullish track.
Certain memecoins showed a tremendous bull run, and investors booked their partial profit in the past sessions. Meanwhile, there is a lot of upside left, and investors still have an opportunity to grab these must-buy picks.
Could PEPE Regain Its Shine from 100-Day EMA Mark?
Following the BTC price consolidation, investors have looked cautious and booked their partial profit in the PEPE coin, which led to a slight retracement from the top.
This week, the memecoin has retested the 100-day EMA mark strong support territory and will likely initiate a pullback ahead.
At press time, the PEPE coin price traded at $0.0000106 with an intraday drop of 7.74%, reflecting profit booking in yesterday’s session. Meanwhile, the memecoin has regressed to the liquidity support zone and may showcase a rebound soon.
Source: TradingView
In his tweet, CJ highlighted:
– “Re-test of pre-breakout demand zone
– BPR
– Triple drive pending daily close
Accepting below the demand zone opens up the range marked.”
$PEPE
— CJ (@CJ900X) June 18, 2024
Must hold level for a bounce
– Re-test of pre-breakout demand zone
– BPR
– Triple drive pending daily close
Accepting below the demand zone opens up the range marked. pic.twitter.com/awTnivh6DK
Source: X
Shiba Inu (SHIB) Trades Near the 200-Day EMA Mark: Could Buyers Initiate a Trap?
The Shiba Inu (SHIB) is the vintage memecoin that looked stable around the past sessions. It regressed toward its crucial support zone of the 200-day EMA mark and will likely initiate a bounce soon.
For the past few trading sessions, it remained in the closed range and faced rejection from its 50-day EMA mark. However, the trend is neutral, and the memecoin is looking for a noteworthy bounce to flip the gains ahead.
Source: TradingView
At press time, the Shiba Inu (SHIB) price traded at $0.0000186 with an intraday drop of 8.04%, reflecting retracement in yesterday’s session. However, it has retested the 200-day EMA mark, and the bulls will likely accumulate the memecoin soon.
@Lola, in her tweet, shared, “Shiba Inu Primed for a Rebound as Burn Rate Spikes 12,842%
POV: I am still holding all my SHIB. If Shiba INU will be used as a gas on a big chain then we might not have this huge pain today IMO.”
#SHIB Shiba Inu Primed for a Rebound as Burn Rate Spikes 12,842%
— Lola (@CryptoLollla) June 18, 2024
POV : I am still holding all my $SHIB . If Shiba INU will be used as a gas on a big chain then we might not have this huge pain today IMO $SHIB #SHIBARMY https://t.co/KwmMgQjXT1
Source: X
If the SHIB price manages to settle around its 200-day EMA mark, it will regain its solidity slowly & steadily and may reflect a sharp upswing soon.
Dogwifhat (WIF) Price At Range Lows, Could It Rebound Ahead?
The Dogwifhat (WIF) price has regressed to the range of lower neckline support around $2 and is at a make-or-break zone. Recently, the memecoin has faced rejection from the 20-day EMA mark and witnessed profit booking in the last sessions.
Meanwhile, the WIF memecoin will likely get support there and will flip the gains shortly.
If the memecoin fails to hold the $2 mark, further downsides may be seen, whereas if it is settled there, it may pull back soon.
Source: TradingView
At press time, Dogwifhat (WIF) price traded at $2.02 with an intraday drop of 12.04%, reflecting retracement this week. However, it has retested the round mark support and will regain the shine soon.
An analyst, Pierre (@pierre_crypt0), shared in his tweet:
“As updated yesterday: not much to work with for bulls below Range Low and the 2.0-2.2 area (+ D1 200 EMA confluence).
As Don updated earlier, there’s a case for a long if WIF prints a deviation and reclaims 2.2-2.3 area (would need to break D1 downtrend then).
But if flipped resistance, it will need a rope more than a Sphere.”
$WIF – D1
— Pierre (@pierre_crypt0) June 18, 2024
As updated yesterday: not much to work with for bulls below Range Low and the 2.0-2.2 area (+ D1 200 EMA confluence).
As Don updated earlier, there's a case for a long if WIF prints a deviation and reclaims 2.2-2.3 area (would need to break D1 downtrend then).
But if… https://t.co/jQo9y5Pcci pic.twitter.com/ONYJztwnbN
Source: X
Conclusion
These memecoin picks have looked relatively better and might see a possible trend reversal shortly. The short-term momentum indicators have guided reversal candidates and will revert sharply from their value region ahead.
Disclaimer
This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.
