Best Memecoins to Buy Today, February 18 – DOGE, SHIB, SPX

Highlights:

• Dogecoin’s price might break out soon if it surpasses resistance, targeting higher gains.
• Shiba Inu shows signs of reversing the trend, with a possible 400% price surge ahead.
• SPX6900 is gaining traction, with support holding strong and the price likely to test new highs.

Cryptocurrency prices have extended their losses today, as the total market capitalization declines by 0.60% to $2.35 trillion. Bitcoin has dropped below the $68K level, while most of the leading altcoins display negative trends. The memecoin sector mirrors the same trend, with a market valuation of $32 billion and a 24-hour trading volume of $2.70 billion. However, the fear and greed index has remained in “extreme fear” at 12 levels. In the section below, let’s examine the best memecoins to buy today.

Best Memecoins to Buy Today

1. Dogecoin (DOGE)

Dogecoin is up by 1.50% over the past 24 hours as bullish momentum gears up in the market. Currently, the price is hovering around $0.1000 with a market capitalization of $17 billion. Despite the bullish resurgence, its trading volume has declined by 20% to $890 million.

Dogecoin Price Chart: CoinMarketCap

Dogecoin’s recent price movement shows a classic cup and handle pattern, as per analyst Trader Tardigrade’s analysis. Dogecoin formed a clear cup pattern, dropping to a low of about $0.08 before surging to $0.11. DOGE is currently building the handle and consolidating around the resistance level.

A breakout might happen when the price surpasses the handle’s resistance. This trend is frequently an indicator of further positive movement, whereby the memecoin might set new highs soon.

2. Shiba Inu (SHIB)

Shiba Inu is exchanging hands around $0.000006461, with a decline of 0.50% on the daily chart. The memecoin has traded in a tight range between $0.000006436 and $0.000006580. Additionally, its market capitalization has dropped to $3.8 billion.

Shiba Inu Price Chart: CoinMarketCap

Market analyst Javon Marks has noted that Shiba Inu is currently showing signals of a potential trend reversal. He indicated a notable trend on the Relative Strength Index (RSI), whereby the price is making lower lows, while the RSI registers higher lows. This divergence implies that selling pressure might be weakening, indicating a potential shift in market momentum.

The analyst predicts that should the trend continue, SHIB might surge by more than 400%, rallying to $0.000035. This upward movement would signify a significant recovery, potentially making it one of the best memecoins to buy today.

3. SPX6900 (SPX)

SPX6900 has continued its upward journey with a surge of 10% over the last 24 hours to trade at $0.3610. This latest rally extends the weekly gain to 27% despite the monthly decline of 30%. Moreover, the memecoin’s daily trading volume has surged by 90% to $20 million.

SPX Price Chart: CoinMarketCap

The memecoin could be on the verge of a major price movement as the price bounced off successfully from the key support around $0.2203. Currently, the price is trading below the immediate resistance at $0.4066. Should the current trend hold, SPX could breach this level to challenge the next resistance around the $0.7537 region.

SPX Price Chart: TradingView

Moreover, technical indicators support this upward price movement. The 14-day RSI has reached the neutral zone at 51 levels, suggesting a further journey toward the overbought region, which could see the price continue to set new highs. Meanwhile, the MACD line is climbing further above the signal line, indicating increased buying pressure.

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