By USA Goldmines 
Bitcoin’s recent upclimb to the $94,000 to $97,000 price levels has boosted positive sentiments amongst altcoin proponents. Notably, there has been a renewed interest in meme coins.
Retail traders are especially eyeing meme-themed coins at this time. President Trump’s campaign for his meme coin, TRUMP, might be credited with this fresh interest in speculative assets like meme coins.
Notably, heightened campaign activity has sent the memecoin soaring by 54% in a single day, while social volume continues to rise.
Meanwhile, leading memecoins Dogecoin (DOGE) and Shiba Inu (SHIB) are both struggling to find stability as the broader market bleeds. However, the market outlook for Ethereum, Solana, Cardano, and XRP is still incredibly bullish. If Doge closes April above $0.20, the asset could revisit its previous all-time high at $0.74, according to a prominent analyst.
A key pattern, the Accumulation Cylinder, has been spotted on Doge’s chart. The pattern typically signals key buying opportunities and hints that a price pump might be underway.
“We don’t know what the catalyst will be, but something interesting is coming. Add here the BTC Dominance topping out, and we have a perfect recipe for a pump,” the analyst asserted.
While Shiba Inu’s price has declined alongside its trading volume, May has historically been a bullish month for the memecoin. If the asset mirrors its previous performance in the new month, a recovery may be recorded in the near term.
At the time of this report, Dogecoin (DOGE) and Shiba Inu (SHIB) are trading at $0.18 and $0.00001367, respectively.
Interestingly, keywords such as “altcoin” and “alt season” have been trending on social media, hinting that positive sentiments for altcoin season have increased. Meanwhile, market players may have to wait to reap profits, particularly when market hype subsides.
As Santiment noted, “History has shown that the most opportune entries into any sort of altcoin cycle are when the crowd is showing complete disinterest in altcoins.”
This articles is written by : Nermeen Nabil Khear Abdelmalak
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