Popular memecoin projects Shiba Inu ( SHIB) and Pepe ( PEPE), marked the day with their rises.
Cryptocurrency market today beware started. Although there were increases in many altcoins, these were small-scale. However, two of them stood out. PEPEand SHIB became one of the highest risers of the day with their rise.
popular two memecoin rose in parallel. Coinglass data pointed to an increase in interest on the SHIB side with futures reaching $101 million. This situation also paved the way for the rise of SHIB. PEPE, which did not fall behind the rise of SHIB, 5 percentMade more than 1,000 upward moves.
PEPE and SHIB chart analysis
SHIBwith its interest in futures Highest since Feb. witnessed the inflow of money. The increase in long positions and the buying appetite, SHIB’s day-to-day 10 per cent It enabled him to experience a rise close to . In addition, SHIB managed to attract attention with its market value of $ 6.4 billion. SHIB has seen an average gain of 60 percent since mid-June. The project, which exhibited a bull run, made one wonder about the memecoin frenzy. However, there is not yet a memecoin frenzy like in the past months in the market.
SHIBLooking at the graph, $0.000011 level seen as an important resistance point. If SHIB breaks through this point, then its next target 0.00001185 dollars will be level. This level is known as the April level. On the SHIB side, the increase in selling pressure and the subsequent correction 0.0001049 dollar level as a support function. Breaking this support SHIBfor 0.00000947 dollarscan start ringing the bells.
Situation PEPE is similar on the other hand. A possible sequel is that Memecoins exhibit parallel movements in the rise and fall. of SHIBexperience the rise to PEPE can increase interest. However, in a reverse decline, pressure may also arise on the PEPE side.
As weak resistance point in front of PEPE 0.00000136 dollars level appears. With the break of this point, PEPE can strengthen its upside movement. At another point of resistance, 0.00000152 dollars level is critical. If this level, which is a strong resistance point, is passed, 0.00000169 dollars You can come nose to nose with it. On the other hand, looking at the bearish scenarios, PEPE’s 0.00000123 dollars level of support is critical. Breaking this support can accelerate the retracement and PEPE $0.000000105can test.
