Dogecoin Eyes $1, Shiba Inu Tests Support, Pepe Rallies: What’s Next?

• Dogecoin developers plan smart contract integration, potentially boosting demand and price towards $1.
• Shiba Inu stabilizes at $0.00002548, with potential for reversal after consolidation between support and resistance levels.
• Pepe shows mixed signals, with recent 30% sell-off and trend exhaustion, while traders watch for further movements.

Dogecoin (DOGE) is drawing attention with predictions of a significant price surge. Prominent cryptocurrency analyst Mags expressed optimism, stating that DOGE is poised to reach $1 and beyond.

This positive sentiment coincides with Dogecoin developers considering the integration of smart contract features on MyDogeWallet, as highlighted by analyst Bm2k. Planned upgrades include the introduction of Doginals and DRC-20 features, set for implementation on the wallet’s browser extension.

WW @binance @MyDogeOfficial #doge #drc20 #doginals pic.twitter.com/pzDQClth5e

— $Bm2k (@bm2kdrc20)
June 12, 2024

This move could potentially generate new demand for Dogecoin, benefiting the meme coin community by enhancing its ecosystem functionality. The proposed features aim to make Dogecoin more versatile and attractive to a broader range of users and developers.

Shiba Inu (SHIB) also remains in focus among traders. Mags highlighted the critical support level at $0.00002548 and resistance at $0.00003200. SHIB has repeatedly tested the resistance without a breakout, indicating strong selling pressure. However, the price has stabilized at the support level, suggesting a potential reversal or pause in the downtrend. Post-April 2023, the price of SHIB has been consolidating within these levels, indicating a possible setup for future movement.

Meanwhile, another meme coin, Pepe (PEPE), has seen mixed reactions. Mags remains bullish, describing the situation as “primed for another leg up,” while analyst Hov offers a more cautious outlook. According to Hov, PEPE recently experienced a 30% sell-off and is showing signs of trend exhaustion. Despite the possibility of one more high, a deeper movement beyond a specific invalidation level could signal a top, leading to a cycle level 2 correction.

$PEPE

Since our last update/warning PEPE sold off for over 30%

I mentioned that we’re close enough to target to aggressively trail your stop

We got roughly 9% away from our target, which puts the trade at roughly 338% from our entry level

So where does that leave us?

The… pic.twitter.com/X1BjGCEgEn

— Hov (@SenseiHov)
June 10, 2024

In recent trading, the price of Dogecoin stands at $0.1391, reflecting a 1.26% decline over the past 24 hours and a 14.68% decrease over the past week.

Pepe, on the other hand, is priced at $0.00001288, marking a 9.70% increase in the last 24 hours but an 11.48% drop over the past week. Shiba Inu’s price is currently $0.00002195, showing a 2.32% decline in the last 24 hours and a 15.12% decrease over the past week.

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