Bitcoin (BTC) has recently been leading the crypto market surge. Yet, there are indicators that a so-called āaltcoin seasonā might be on the horizon. Bitcoin has approached its record high from 2021, reaching $64,000 this week, triggered by robust investments into spot Bitcoin ETFs and registering a 50% increase in February. Additionally, the remarkable rally in meme coins last week could be seen as an early harbinger of the altcoin seasonās arrival. Thereās a growing hope that the prices of SHIB, PEPE, DOGE, and Axmint could potentially skyrocket, achieving a 10x increase in the upcoming weeks.
Last week, well-known dog-inspired cryptocurrencies Dogecoin (DOGE) and Shiba Inu (SHIB) saw substantial gains in value, with increases ranging between 40% and 50%. Concurrently, Axmint also witnessed a notable price surge during the same time frame.
Shiba Inu (SHIB) Price Analysis
SHIB price is attempting to continue its upward momentum, although the RSI indicating an overbought condition implies that sellers are strongly defending the resistance lines.
Should the price retreat from its present position yet find support at the 20-day EMA, it would indicate ongoing bullish sentiment, potentially triggering a retest of $0.000025. If the SHIB price holds above this level, we might see a skyrocketing trend toward $0.000033.
Pepe Price Analysis
Pepe coin price has been pumping hard in recent weeks as it recorded gains of over 500%. Pepeās price jump over the $0.000005 resistance marked the commencement of the next phase in its upward trajectory.
The trend of moving averages surging signifies that the market is predominantly controlled by the bulls, though the RSI reaching into the overbought territory hints at a potential minor pullback. If the price remains above its recently achieved ATH, we might see a 10x rally in PEPEās price in March.
Dogecoin (DOGE) Price Analysis
The bulls managed to protect the breakout level of $0.12, but were unable to push Dogecoin past the $0.14 resistance level, signaling weak buyer interest at higher prices. Consequently, the bears might attempt to take control by driving the price below the moving averages. For a bullish trend to be confirmed, the bulls need to push and sustain the price above $0.15-$0.17. Achieving this could lead the meme coin to record a 10x surge in the coming weeks.
Axmint Price Analysis
While all the memecoin Performing well in the market, The AXM token has witnessed an extraordinary surge in value, hitting a new all-time high (ATH) of $0.39 this week, with a 24-hour low of $0.36. This surge marks a remarkable increase from its previous trading price of $0.25 as of February 1, 2024. Investors and enthusiasts have been captivated by the tokenās remarkable performance, which demonstrates a staggering quarterly rise of 212%.
