Next Memecoins to Explode, January 7 – PEPE, SHIB, BONK

Highlights:

• PEPE, SHIB, and BONK are leading the pack as the next memecoins to explode, each showing renewed bullish signs.
• Shiba Inu’s wedge breakout and strong RSI hint at more upside if momentum keeps building.
• BONK’s breakout from a long downtrend could mark the start of a fresh rally phase.

The crypto market registered a brief decline over the past 24 hours, with Bitcoin halting its upward momentum. This was due to profit-taking after almost seven days of gains, which is a natural and anticipated occurrence. Similarly, the memecoin sector has also submerged in red as the market cap and trading volume declined to $46 and $6.80 billion following its recent boom. In this article, we will discuss the next memecoins to explode, such as PEPE, Shiba Inu, and Bonk.

Next Memecoins to Explode

1. PEPE

The frog-themed memecoin, PEPE, has been on a robust bullish ride since the start of the memecoin craze. This bullish momentum has seen the memecoin surge by over 60% on the weekly chart. As of this writing, PEPE is exchanging hands at around $0.000006745, with a market cap of $2.80 billion.

PEPE has been on the upswing since bouncing off a major resistance line around the $0.00000070 area. This is a sign of possible bullish continuation if the momentum keeps building, according to chart analyst NFTDavie. PEPE is currently targeting a range of $0.00001000.

The chart shows a downward wedge breakout, typical of sharp upside moves, aligning with the current price movement. If follow-through buying holds, PEPE could remove another zero, positioning it in the list of the next memecoins to explode.

2. Shiba Inu (SHIB)

Shiba Inu is down by more than 1% over the past 24 hours following the broad market decline. Despite this latest setback, the memecoin is up by 27% and 6% on the weekly and monthly charts, respectively. Moreover, its market cap and trading volume have decreased to $5.30 billion and $210 million, respectively.

Shiba Inu recently broke out of the falling wedge formation on the daily chart. This breakout was after a steady decline that had convergence support and resistance levels, creating a bullish reversal pattern. The price bounced from $0.00000680 and reached a high close to $0.000010 before slightly declining.

The Relative Strength Index (RSI) is slightly below the overbought area around 64 levels, indicating growing buying pressure. Meanwhile, MACD has crossed the signal line, indicating upward movement. Should this breakout and the bullish momentum continue to hold, the next possible target is around $0.000013. 

3. BONK

The Solana-based memecoin, BONK, also caught the spotlight recently, after surging by 56% on the weekly chart. Currently, the price is hovering around $0.00001205 after facing stiff resistance at the $0.00001300 region. Meanwhile, its market cap has surged above the $1 billion mark.

BONK has emerged as one of the next memecoins to explode following a significant shift observed on the weekly chart. Crypto analyst Team Lambo noted that the memecoin has escaped the trend channel of decline after several months of decline. The chart shows several falling channels with consecutive relief rallies, which indicates a repetition pattern.

The most recent breakout might be an indication of a reversal in the trend to the upside, particularly with the formation of bullish candles. The analyst has set a price target of $0.00002800, up from the current levels, reflecting an approximate increase of around 139%.