After Bitcoin halving, crypto meme coin The sector witnessed a significant rise with a significant increase of over 6%. Prominent meme coins such as Dogecoin, Dogewifhat and Shiba Inu have made significant gains in the last 24 hours, marking a pivotal moment for investors and traders alike.
Meme Coin Performance After Halving
Today, on April 20, 2024, these meme coins showed remarkable momentum after a week of persistent struggle. However, investors and traders have been predicting that the crypto meme industry and other related industries may experience upward momentum following the completion of the Bitcoin Halving, and this is exactly what is happening.
If we look at the performance of these meme coins, dogwifhat (WIF) gained massive upward momentum of over 12%. It is currently trading around $2.9. DOGE, the world’s largest meme coin, experienced a tremendous upward momentum of 6%. It is currently trading near the $0.15 level. Additionally, the recently launched Solana-based meme coin Book Of Meme (BOME) also experienced major upward momentum of over 13%.
DOGE and SHIB Technical Analysis
Despite the tremendous upward momentum in the cryptocurrency industry, the weekly time frame DOGE The coin is trading near a key support level. However, this halving event could help DOGE reach a 52-week high. SHIB on the daily time frame appears to be in an upward trend and has the potential to rise approximately 10% more in the next 24 hours. The biggest reason behind the expectation is a breakout of a consolidation zone. In the weekly time frame, SHIB is on the rise and may increase by more than 50%.
However, in the last few days, crypto whales and institutions have been trading on DOGE, WIF, SHIB and many others have accumulated these meme coins greatly. This huge price increase in meme coins highlights investor interest after the Bitcoin halving event.
Apart from the cryptocurrency industry, the overall cryptocurrency market has also increased by around 3%, and the world’s largest cryptocurrencies such as Bitcoin and Ethereum have also experienced good upward momentum, with upside momentum of 0.5% and 0.2%. Other cryptocurrencies such as Solana (SOL), Binance Coin (BNB), and Ripple (XRP) have also experienced good upward momentum in the last 24 hours.
