The post Which Memecoin Will Outperform In Q4 2023? DOGE, SHIB, Or Floki? appeared first on Coinpedia Fintech News

Despite the market gaining Momentum and taking steps towards stability, the Meme coin verse has traded in a consolidated range for a while, indicating a weak price action for these coins. Moreover, the lack of price momentum could further alarm investor’s disinterest in the category as the coins are highly volatile in nature.

On the other hand, this could also be the silence before the possibility of a massive pump in the coming time. This further makes us question whether this is the right time to invest in memecoins?

Dogecoin Price Analysis:

The category leader has been trading in the range between $0.0600 and $0.06400 for almost a month now, indicating a weak bullpower in the market.

If the bulls manage to gain power and push the price above $0.06148, then the memecoin will start trading under a bullish influence and continue to rise. Further, if the market manages to hold the price above the level, the coin will prepare to test the upper resistance of $0.06219.

On the contrary, if the bears overpower the bulls and a trend reversal occurs, the price will lose momentum and test its support level of $0.06055. Moreover, if the price fails to gain momentum, the coin will soon test the support zone of $0.0590.

Shiba Inu Coin Price Analysis:

Following the footsteps of the leader, Dogecoin, Shiba Inu continued to trade in a consolidated range of 0.00000712 and $0.00000742 for almost a month. The coin is currently testing its support level, but the bulls are managing to hold the price strong.

If the market gains momentum and breaks out of the resistance level at $0.00000742, then the coin will gain momentum and continue to rise. Further, if the memecoin manages to hold that level, then the price will make a run and test its upper resistance of $0.00000774.

On the flip side, if the bulls fail to hold the price above the support level, then the price will lose momentum and prepare itself to test the lower support of $0.0000686 soon.

Floki Coin Price Analysis:

The price was seen trading in a consolidated range for a brief period, after which the price gained momentum, jumped in value, and broke out of multiple resistance levels. Following the Golden Crossover, the price experienced a trend reversal, resulting in the Memecoin losing all its gains from the pump.

The coin has steadily risen after testing its support zone at $0.00001733 and is presently trading between the range of $0.00001806 and $0.00001898.

If the bulls manage to gain power and break out of the resistance level at $0.00001898, then the price will continue to gain and test its upper resistance at $0.00001971.

On the contrary, if the bears continue dominating the market, the price will fall below the support level of $0.00001806. Moreover, if the market fails to hold the price at that level, then the price will further fall and test its lower support level of $0.00001715.

Conclusion:

Overall, the memecoin category has been performing poorly as the bulls are unable to gain momentum in the market. But, the category is predicted to undergo massive price action in the coming time as the coins breaking new ATH is inevitable.