Meme cryptocurrencies, including DOGE and its closest competitor SHIB, along with Solana-based tokens BONK and WIF, are experiencing a resurgence after a prolonged decline. These tokens have shown positive trends, accompanying Bitcoin’s recovery.
DOGE has pleased investors with a rise of over 2% in the last 24 hours following a period of decline. However, due to the weak market structure, it may be premature to consider a mid-term bullish trend. If bulls can push the price above the critical resistance area of $0.08, traders might see DOGE settle in a sideways trading zone between $0.080 and $0.085.
Meanwhile, SHIB has seen a smaller increase of 1.58%, underperforming expectations. SHIB’s price movement has mirrored DOGE’s, suggesting a consolidation phase after its recent drop. In the coming days, SHIB is likely to consolidate between $0.00000860 and $0.00000940.
BONK has outperformed both DOGE and SHIB with a 6.87% increase in price. Despite a sharp fall previously, BONK’s 4-hour chart indicates a recovery, with potential movement towards the $0.000012 region if the upward trend continues.
WIF, another Solana-based meme coin, became the star of the segment with a 50% surge, marking it as the biggest gainer. Despite its impressive performance, WIF is still far from its recent peak, indicating it has a long way to go. Over the next few days, it might move sideways between $0.30 and $0.35.