🌎 Meme Coins Shiba Inu and Pepe Surge

Meme Coins Shiba Inu and Pepe Surge, But Can They Hit $1 by 2025?

Shiba Inu and Pepe, two of the largest meme coins in the crypto industry, have seen significant growth, boasting a combined market capitalization of nearly $30 billion. Shiba Inu has surged over 17,000% from its all-time low, elevating its valuation to more than $18 billion, while Pepe has risen by over 3,700% from its lowest level in 2023.

Altcoin Season Index and Crypto Fear and Greed Index

The altcoin season index has climbed to 83, and the crypto fear and greed index has moved to 85, indicating a bull run in the crypto market. This has sparked speculation about whether these meme coins could hit $1 by 2025.

Shiba Inu Price Analysis

For Shiba Inu to reach $1, its price needs to rise by 3,225,805% from its current trading price of $0.000030. While such growth is not impossible in the crypto world, it is highly unlikely to happen anytime soon.

However, technical analysis suggests that Shiba Inu has more upside in the coming months. The daily chart shows that the coin has found some resistance at the 38.2% Fibonacci Retracement level, which is also the weak, stop, & reverse point of the Murrey Math Lines. This means that it has some more upside to get to the ultimate resistance point at $0.0000357.

The bigger picture is that the coin has formed a cup and handle pattern, which has now moved to the upper side, explaining why it is consolidating. By measuring the depth of the cup, it means that Shiba Inu price will rise and cross the year-to-date high of $0.000045 and then hit $0.00005486.

Pepe Price Analysis

Like Shiba Inu, Pepe has a long way to get to $1, needing to rise by over 4 million percent to reach that milestone. However, Pepe has formed bullish patterns that could push its price higher in the short term.

The token is currently developing a bullish pennant pattern, often associated with upward momentum. Pepe also completed a break and retest at the support level of $0.00001723, which aligns with the upper side of a cup and handle pattern. Additionally, the token formed a golden cross pattern in September, signaling potential bullish momentum.

By measuring the depth of the cup pattern, Pepe’s price could climb to $0.00002877 during this bull cycle.

Tips for Investors

While the idea of Shiba Inu and Pepe reaching $1 by 2025 may seem unrealistic, their current growth and technical analysis suggest that they have more upside in the coming months. Investors should keep an eye on these meme coins and consider the following:

Conduct thorough research and analysis before investing in any cryptocurrency.
Consider the market trends and technical analysis before making investment decisions.
Never invest more than you can afford to lose.
Diversify your portfolio to minimize risk.