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The post <a href="https://coinpedia.org/price-analysis/are-meme-coins-back-doge-and-shib-prep-a-breakout-rally/" rel="noopener noreferrer nofollow">Are Meme Coins Back? DOGE and SHIB Prep A Breakout Rally</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a>
A week after the tumultuous price movement in Bitcoin and altcoins, hope for a bullish revival surfaces. With Bitcoin hanging near $59K, meme coins experience a shift in underlying sentiments as DOGE and SHIB prepare for a bull cycle. Will this upcycle lead to a 2x breakout run in August?
<h2 class="wp-block-heading" id="h-upcycle-for-a-breakout-in-doge-price-nbsp">Upcycle For a Breakout in DOGE Price&nbsp;</h2>
Trading under the high bearish influence, Dogecoin forms a falling wedge pattern. Following the crash last week, concluding the 30% negative cycle of 10 straight bearish candles, DOGE hits the support trendline.
<figure class="wp-block-image"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXfkOM3GzMpBa8LuoQdc9fa3o03h-Pd1o-rOCZgjaWffSRjpBj863ZrX9RPyNkj-QTdnil0rDfDeSDm1HsAm3tY1wJnbh1fCYBOdhH5xKAehGzyaecn232XmLnvdQ5Ex1wYOfQ6HlnfAPYJJZUn0whtr_XnQ?key=vD0pUlSpDt8Gwf5SYelmPA" alt="">
</figure>
<a href="https://www.tradingview.com/x/Y13mHLuc/" rel="noopener noreferrer nofollow">TradingView</a>
With a lower price rejection and a 12.46% jump on Thursday, DOGE prepares for a bull cycle. Currently, the meme coin trades at $0.10460 with an intraday pullback of 3.07%. Further, the bullish trend in action accounts for a price jump of 29.74% from the low formed at $0.08049 on Black Monday.&nbsp;
As per the Pivot standard, the bull cycle is ready to face overhead resistance at $0.12 and the overhead trendline. Further, the bullish crossover in the MACD and signal lines bolsters the possibility of a breakout run. Optimistically, the uptrend in the meme coin can result in a price jump of $0.20.
<h2 class="wp-block-heading" id="h-will-shib-meme-coin-hit-0-000030">Will SHIB Meme Coin Hit $0.000030?</h2>
Similar to Dogecoin, the second biggest meme coin forms a falling wedge pattern under increased bearish influence. With the bull cycle struggling to gain momentum, the SHIB token price consolidates below $0.000015.&nbsp;
<figure class="wp-block-image"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXcySCF6-sl6OEkqC45xHqqF7K1KQh1nel66_Qw1h8vNOWF2zsGN_LVZAlt3RKewU4VbFKRHDKq12FPh73MnnE_IG-RS7CMXkOyzla_Oyt3h5BcUJxw33C6SPKGerK2eKAW021jd5xL6SYQFMm4Xbqw72oqh?key=vD0pUlSpDt8Gwf5SYelmPA" alt="">
</figure>
<a href="https://www.tradingview.com/x/YrMlFEjK/" rel="noopener noreferrer nofollow">TradingView</a>
The underlying shift in sentiment is visible in SHIB, with a bullish crossover in the MACD and signal lines. Further, the ongoing recovery run from the low of $0.00001078 accounts for a 27.90% rise. A potential breakout run in the Shiba Inu meme coin could break above the overhead trendline.&nbsp;
As per the Pivot Point Standard, the bullish trend in the meme coin is likely to reach the $0.000023 or $0.000030 mark in the coming days.&nbsp;

Are Meme Coins Back? DOGE and SHIB Prep A Breakout Rally

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