A massive upswing was experienced by Dogecoin on April 3rd, while other meme coins followed a bullish path. This sudden growth sparked a place in the game of meme coins.
The Shiba Inu currency price has been consolidating over the last three weeks, ranging from $0.0000106 to $0.0000102. With the increased FUD in the market, the coin price displays higher price rejection candles at $0.0000106 resistance, suggesting that the sellers are still defending the higher level and a strong chance of a sideways trend continuation. The rising RSI slope, on the other hand, indicates that the gathering is steadily increasing, encouraging purchasers to break through the $0.0000106 limit. A possible bullish breakout from the aforementioned support will unleash the accumulated bullish momentum, causing prices to rise 20% to $0.000014.
One might wonder if April 2023 is a good month to invest in meme coins.
We can’t give a precise answer as “Yes” or “No’, apart from the analysis and number mentioned above, we like to leave you with something more to think about.
Brayan Hernandez, co-founder of trading and investment platform Structure. Fi. said,
“Meme coins are designed like any other cryptocurrency, like Bitcoin or Ethereum. The difference is their existence tends to be centred around a viral moment or funny idea, and their value depends largely on how much momentum that concept can generate.”
Bitcoin: Fell in March, rose in April
Crypto investors have happily left behind March, a month that was historically one of the worst for Bitcoin (BTC).
The Bitcoin price has risen nearly 500% since the start of the current bull run in October, reaching a record-setting level of slightly more than $60.000 per Bitcoin this month, but it has ceased breaking new territory with the frequency that it did in January and early February. Before the Bitcoin price restarts its last rebound, coin holders are experiencing a brief consolidation period designed to test price stability at higher levels.
Though the lengthy consolidation represents market volatility, the BTC price did not fall below $36500, suggesting that purchasers are still protecting their recently reclaimed levels.
Now, with past Bitcoin price data indicating that March losses are frequently companies by an April rally, bitcoin traders and buyers are feeling optimistic.
The new branch of inflation and labour market data, as well as ongoing liquidity concerns in the financial sector, will be the primary focus for the crypto investors for April.
Big Eye Coin: Cuteness of a Cat, the Strength of a Lion
Crypto has had a turbulent week with banks leading to cryptocurrency failing and legislation coming. However, there are positive developments in the crypto world as Big Eyes Coin prepares to debut following its outstanding presale and Bitcoin reaches $26.000 in value. The cat team has raised £33 million in the Big Eyes Coin presale. The Big Eyes have revealed that the meme coin’s presale is coming to a close on June 3rd and that it will be soon available on the Uniswap network.
The token is the newest to jump on the meme coin trend, and it has expanded its cat-themed environment. Big Eyes Coin is causing a stir among buyers, who are being given the possibility of purchasing Loot crates containing a random amount of the Big Eyes coins.
As always, the altcoin’s aim is to give back to the community, with 5% being stored in an openly accessible wallet. Tokens in that container will be given to charitable organisations and environmental protection organisations.
Follow Big Eyes Coins’ Official Pages:
Presale: https://buy.bigeyes.space/
Website: https://bigeyes.space/
Telegram: https://t.me/BIGEYESOFFICIAL
