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Over the last few weeks, the cryptocurrency market has been riddled with bearish pressure, causing declines in the meme coin space. However, top meme coins, Dogecoin (DOGE) and Shiba Inu (SHIB) are beginning to recover from recent market fluctuation. In a more exciting trend, Kangamoon, a new P2E meme coin has emerged as the hottest new prospect in the meme coin space.
After more than seven weeks of trading on a descending trendline, Dogecoin (DOGE) has finally found a support level. Rebounding at the critical $0.0600 support level and forming a bottom, the leading meme coin now appears to be pulling a recovery.
Forming a double bottom at this level on the weekly timeframe, the Dogecoin price has increased to the $0.06200 price level. This increase briefly saw DOGE overtake Cardano as the seventh-largest cryptocurrency ranked by market cap.
Despite the recovery, the indicators of DOGE are still looking weak and oversold. For there to be a bull market, there has to be a major event to push the Dogecoin price higher. If this happens, DOGE could return to $0.070 in the next month, before looking to reclaim the $0.080 price level.
Shiba Inu, often referred to as the "Dogecoin killer," is another meme coin showing remarkable signs of recovery. Following its bounce at the $0.00000700 support level, the Shiba Inu coin has begun gaining momentum, increasing to the $0.000007300 level.
Amidst this bullish showing, SHIB bulls expect more price gains and have been accumulating the token. In September, Shiba Inu whales increased their purchase of SHIB, adding more than $50 million worth of the meme coin to their addresses.
These crypto whales expect the price of Shiba Inu to trade above $0.00001000 in the coming weeks. For this to happen, the crypto must first reclaim the $0.00000800 support level. If the Shiba Inu price reaches this level, it could then look to break above the $0.0000100 resistance.
The meme coin space became popular for being driven by hype and community support. However, Kangamoon (KANG), a new meme coin has been generating buzz for different reasons – its utility.
While Kangamoon is a meme coin like Dogecoin and Shiba Inu, it boasts of utility that others lack. Kangamoon infuses an active play-to-earn ecosystem to allow gaming enthusiasts to monetize their gaming time. In the exciting virtual world of Kangamoon, players will take on the role of Kangamoon, a spirited kangaroo with a passion for boxing.
In the game, players will be able to build their characters and unique abilities, to train their fighters for fights and tournaments to receive rewards. This hybrid ecosystem will give meme coin enthusiasts an opportunity to interact with like-minded gamers.
Because of the exciting opportunity this new community-driven cryptocurrency offers, crypto experts have predicted that the early stages will yield up to 20x ROI this year. Early investors have a great opportunity to stack Kangamoon's utility token, KANG, while it trades for only $0.005 per token.
Website: https://Kangamoon.com/
Join Our Telegram Community: https://t.me/Kangamoonofficial
