Dogecoin, Shiba Inu, and Lunex Network (LNEX) Present Lucrative Crypto Investment Opportunities

Dogecoin displays a textbook bull flag pattern, with the initial sharp uptrend movement forming the flagpole. During its subsequent consolidation phase, Dogecoin's price has been moving in a rectangular channel with a minor upward tilt and decreasing volume.

Cryptocurrency market prices have been on a downturn for the past few months, but some coins have managed to buck the trend and post impressive gains. Three standout performers are Dogecoin (DOGE), Shiba Inu (SHIB), and Lunex Network (LNEX).

Dogecoin’s price pattern suggests a potential 70% spike. A closer look at Dogecoin's price action on the 50-day moving average (50DMA) chart reveals a classic bull flag pattern formation. This bullish technical pattern begins with a sharp uptrend movement, forming the ‘flagpole,’ followed by a consolidation phase, where DOGE’s price has been moving in a rectangular channel with a minor upward tilt and decreasing volume—a characteristic common for this pattern.

Based on traditional technical analysis approaches, applying the height of the flagpole to the token's breakout point projects a price target of $0.69 for Dogecoin. This represents an over 70% spike from Dogecoin's current level, trading above the $0.39 price level. Notably, the 50-day SMA has maintained its position above the 200-day SMA, reinforcing the bullish trend.

However, for this bullish outlook to materialize, Dogecoin's price movement has to breach the flag's upper resistance with significant volume. The broader market conditions will be crucial here, especially Bitcoin's performance. Currently, Dogecoin's price action suggests building buying pressure, with the relative strength index (RSI) at 51.

Shiba Inu’s burn rate surges by 3,600%

Shiba Inu's burn rate surged by 3,600% in the past day, with 35.6 million coins burned, according to Shibburn data. During this period, two transactions stood out, with one transaction seeing 15.5 million coins burned and the other seeing 11.1 million coins burned.

While the burn rate momentum seems to have cooled off, the eliminated tokens present a bullish outlook for Shiba Inu's price. The top meme coin's value might surge as more coins are eliminated from circulation. This is also a much-needed boost for Shiba Inu, whose price has been consolidated despite other meme coins like Dogecoin and Pepe hitting new highs.

Despite the tepid SHIB price action, which has the token hovering above the $0.000025 region, crypto analysts remain positive that Shiba Inu will record a bull run. According to Shib Spain, the meme coin is battling crucial resistance zones between $0.000026 and $0.000030. However, breaking past this resistance will lead to a significant breakout, eyeing the $0.0001. Technical indicators also point to building momentum in the price of Shiba Inu.

Lunex Network presale price surges by over 283%

Lunex Network has been attracting significant attention within the crypto market. This unique presale star has already surged by over 283%, with further gains set to come soon. What makes Lunex Network stand out is its ability to disrupt the decentralized finance (DeFi) market, which is set to hit $48 billion by 2031.

The LNEX token's long-term stability and growth potential might be amazing. The project will launch a new non-custodial trading platform that connects isolated blockchains. Here, users can trade over 50,000 crypto coins across 40+ blockchains in total privacy. Moreover, holding the LNEX token has many perks, including staking rewards and governance voting rights.

This DeFi coin is currently priced at $0.0046, which means early investors already enjoy over 283% return on investment (ROI). The project has already raised over $5.2 million in presale revenue as it eyes the $6 million target by the end of the year. A tier-1 crypto exchange listing might also push the LNEX price closer to the $1 region.