On April 3rd, the Billionaire Elon Musk changed the Twitter logo from Bluebird to Dogecoin causing a significant impact on the memecoins market. While Dogecoin showcased a massive upsurge the other meme coins followed a bullish path. This sudden growth allowed the memecoin to regain lost ground and resume the prior rally.

Dogecoin(DOGE)

Source- Tradingview

On April 3rd, the Dogecoin price witnessed a massive inflow as investors saw the Bluebird Twitter logo switch to DOGE for a brief period. As a result, this memecoin showcased a massive rally of 21% and breached the resistance trendline of a five-month long bullish pattern candle falling wedge.

This breakout is an early sign of trend reversal which may drive the DOGE price to potential targets of $0.11. However, the coin price currently trades at the $0.096 mark and the long-wick rejection attached to the daily candle indicates the short-term trader is excited.

With sustained selling, Dogecoin could tumble 12.7% and revisit the breached trendline to check price suitability at a higher price.     

Also Read: Here’s Why Elon Musk Changed Twitter’s Logo To That Of Dogecoin (DOGE)             

Shiba Inu(SHIB)

Source- Tradingview

Over the last three weeks, the Shiba Inu coin price has remained in a consolidation phase stretched from $0.0000106 to $0.0000102. With the increasing FUD in the market, the coin price shows higher price rejection candles at $0.0000106 resistance indicating the sellers continue to defend the higher level and a strong possibility for a sideways trend continuation.

However, the rising RSI slope reflects the accumulation force is gradually rising which encourages buyers to breach the $0.0000106 barrier. A potential bullish breakout from the aforementioned resistance will release the build-up bullish momentum and push the prices 20% higher to hit the $0.000014 mark.

Floki(FLOKI)

Source- Tradingview 

Under the influence of a descending trendline, Floki coin price witnessed a steady correction over the five weeks. However, with the ripple effect of the Dogecoin price skyrocketing, the Floki price breached the aforementioned resistance on April 3rd.

This bullish breakout may signal the resumption of prior recovery and offer a long entry opportunity to traders. If the coin price shows sustainability above the breached trendline, the buyers may drive a recovery rally 72% higher to rechallenge the $0.00006 neckline resistance of the long-coming cup and handle pattern.