The recent upward movement in the price of Bitcoin (BTC) has also helped to boost the entire cryptocurrency market and, with it, cryptoactives considered ‘memes’ are also seeing their prices rise by more than 2 digits in the last few days.
Thus, according to Smart Contracter analyst, some cryptocurrency memes are like sleeping giants who are just waiting for the right moment to wake up and bring big gains to your investors.
According to him, with Bitcoin reaching US$ 45,000 again and Ethereum (ETH) over $3,000 altcoin time is coming and with it, the cryptoactive memes must also initiate a lightning high.
In the case of Dogecoin (DOGE) the analyst believes that the cryptocurrency will break its downtrend and quickly rise to $0.41.
“Woof woof, DOGE ironically looking prepared and breaking the key downtrend, the meme [temporada] is back? Looking like one of the slow engines, but not for long. [na minha opinião]. ”
FX Street analyst Akash Girimath also agrees that Dogecoin’s price is poised for a possible hike. According to him, Investors should note that Dogecoin price will likely increase 20% to mark the supply zone, ranging from $0.25 to $0.290.
“In some cases, this increase may retest the resistance level of $0.273, which would constitute a 30% high of $0.213,” he said.
SafeMoon and Shiba Inu
In the case of Safemoon, the FX Street analyst indicates that the token is consolidating into a bullish pattern and, according to him, investors can expect this bullish trend to continue.
He points out that the SafeMoon price has been setting higher and lower lows since May 20th. By connecting these wobble points using trendlines, a descending wedge pattern forms.
“This bullish setting predicts a 77% high, determined by measuring the distance between the first bullish and bearish swing. Adding this distance to the breaking point at $0.00000212 reveals a goal of $0.00000377.” said.
According to him, for this increase to occur, cryptomeda must first break the US$ 0.00000264 mark and sustain this price at the daily close.
In the case of Shiba Inu, he points out that the token meme has witnessed a massive expansion after consolidating for about two weeks and, according to him, although this increase was exponential, it has more room to rise.
“Investors can expect a short-term consolidation or a small pullback before the SHIB hits its intended target,” he noted.
He points out that in the future, traders can expect two things, a decisive close of the 12-hour candlestick above $0.00000870 that leads to further gains in short-term futures or a small pullback to $0.00000759 followed by a restart. of the second race.
“Anyway, market participants need to understand that the Shiba Inu price is far from its intended target. The 62% Fibonacci retracement level at $0.00000954 and the 70% Fibonacci retracement level at $ 0.0000101 are two crucial barriers that bulls need to overcome,” he says.
Coming out of the cryptocurrency memes, trader Smart Contracter highlights that he is optimistic with the indexing protocol The Graph (GRT) that after being in an accumulation phase it would be ready to start a bullish movement
In addition, the investor said that he is turning the profits from CryptoPunks, which are some of the first non-fungible tokens (NFTs), or digital art, coined in the Ethereum blockchain.
Smart Contracter says he is using the proceeds from NFT to buy Meebits, a new NFT project that he says has the same upside potential.
“I just sold a punk for +50% what I paid at the beginning of the month, and I’m going to use those profits to buy some Meebits. Larvalabs NFTs are the only ones I made money with, so [provavelmente] I’ll stay with them”, concluded.
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