Many of them are in the consolidation and accumulation range, which is positive. Moreover, it seems unlikely that meme coins will remain at these values for long. However, the news has not resulted in a SHIB pump like most had hoped for, although that momentum may still occur in the coming weeks. One thing to consider is how Robinhood listed Shiba Inu – after months of community members trying to make this happen – confirming hard work does pay off. Future Outlook Remains IndecisiveĮven at the current deficits and lack of bullish momentum, many remain hopeful for meme coins like DOGE, SHIB, ELON, etc. Something will need to change for fans of meme coins, but that change will not materialize overnight. Neither of these projects has a market cap of over $11 million, making it relatively easy to manipulate the price. Today’s biggest Gaines are 1-UP, DogeGF, Catbonk, Boss, and DogeFi. Momentum does not come from the top markets by market cap. Interestingly, the overall market cap of all meme tokens is up by 7.6% today. However, individuals will always look to accumulate when prices remain low. That may signal people got fed up with meme coins for the time being. Its weekly performance is a break-even, yet the daily momentum is exceptionally bearish for SHIB. The one meme coin performing somewhat decently is Shiba Inu, even if that currency is down by over 15% from its value two dips ago.
Overcoming those discrepancies needs to happen soon, yet the daily price momentum isn’t bullish enough. Baby Doge Coin, Catechin, and The Doge MFT lost over 20% in seven days. However, they are also the assets that lost the most value this past week. Meme coins could, in theory, see a tremendous push in the coming days.
A bullish BTC and ETH spell often trickle down to alternative currencies, although that outcome is not a given. The prices are going up once again, which has many people hopeful. The bearish conditions of the past week made no sense whatsoever, hinting at mass-market manipulation by several whales and big traders. It is good to see the crypto markets again go in the green. As a result, making up the weekly loss of between 13% and 23% will be a steep challenge. Primarily meme coins need a substantial push, yet investors and speculators have seemingly cooled off on these assets. When crypto markets turn bullish again, many people have high expectations for altcoins.
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