While the crypto industry is experiencing a comeback in value meme coin ‘s began to gain significant price movements in their values. Meme coins have always been the center of attention of the industry as they attract the attention of a large number of investors due to their nature and price fluctuations.
Despite November ending on a positive note, major coins struggled to gain momentum in the market. Bears and bulls constantly struggled for power throughout November. This has resulted in top tokens showing huge price fluctuations.
The top meme coins recorded constant price fluctuations, causing them to witness multiple pump-and-dump situations throughout the month of November. Category leader dogecoin While its price made the highest gain, gaining approximately 20%, it was followed by the Shiba Inu price, which had difficulty exceeding 5% throughout the whole month.
On the other hand, the most popular memecoin of the year pepe coin Its price has lost over 3% over the past month, indicating that investor interest in this coin has waned.
The technical indicator MACD displays a rising red histogram, indicating that the top coins are currently witnessing a higher selling pressure in the market. Additionally, the averages show a convergence in the downtrend (averaging across each token) and indicate that the meme coin category is likely to face a correction in the coming days.
In conclusion
Koinfinans.com As we reported, increasing whale activity and the entry of new investors into the market are an indication that this payment system is increasingly adopted by the world. Additionally, the meme category has exhibited significant price volatility over the past month.
Overall, the Meme coin category has recorded a significant bullish sentiment in the market as major coins have gained significant value in their respective prices. The category is predicted to undergo major price movement in the coming year as these coins are bound to record a new ATH.