With the cryptocurrency market reclaiming the $3 Trillion milestone, the memecoin category has experienced a meteoric surge over the past few days.

The cryptocurrency market has experienced a bullish uptrend, with memecoins leading the surge. Top memecoins, including Shiba Inu (SHIB) and Dogwifhat (WIF), have doubled in value over the past few days.

Here's a closer look at the memecoin market and the price movements of SHIB and WIF.

Shiba Inu (SHIB) price today has surged by 8.56% with a trading volume of $3.43B. Moreover, SHIB price has soared 39.14% in the past week and has a YTD return of 152.36%.

From the price chart, we can observe a continuous surge in the memecoin price. However, the RSI continues hovering in the overbought range in the 1D time frame.

Moreover, the second largest memecoin began the year trading at $0.000008 and surged to attain an all-time high of $0.0000884 on October 24. Notably, the meme coin has surged over 100x from its January lows.

If the bulls regain momentum, the Shiba Inu price will retest its upper resistance level of $0.0000380 this month. However, if the bears overpowered the bulls, this could result in the meme coin retesting its lower support level of $0.0000170.

Dogwifhat (WIF) price today has surged past the $4 mark with an intraday surge of ~49%. Moreover, the WIF price has soared 80.41% in the past week and 1,661.23% this year.

From the price chart, we can observe a continuous bullish trend in the memecoin price. Moreover, the EMA 50/200-day experiences a strong bullish rise in the WIF price chart.

Furthermore, the MACD indicator shows a constant rise in its green histogram with its averages recording a similar price trend. This indicates that the price may continue gaining value this week.

Maintaining the price above its support level of $4 could set the stage for the Dogwifhat price to retest its ATH of $4.850 during the upcoming time. In contrast, a bearish reversal could drag the price toward its support level of $3.

FAQs

How much does Dogwifhat need to surge to attain a new ATH?

With an ATH of $4.85, the Dogwifhat price requires a jump of ~13% to achieve a new all-time high.

Where could Shiba Inu price head next if bullish?

If the bullish sentiment sustains, the Shiba Inu price may head toward its upper high of $0.0000380.

Is the meme coin market a good investment right now?

The meme coin market is extremely volatile at this point, making it a high-risk investment.

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