Meme Coin Prices Explode: DOGE, WIF, FLOKI Lead the Rally

Meme coins are definitely the main story in this bull run. After March mania when many memes were going through the roof, it looks like the fever is back now.

Meme coins, a cryptocurrency subcategory known for its viral nature and often Shiba Inu-themed branding, are surging in value following Donald Trump's victory in the US presidential elections last Tuesday.

As Bitcoin and Ethereum prices recovered nicely at over $80k and $3.1k respectively, meme coins like DOGE, WIF, FLOKI, and MEW are among the top crypto gainers today.

DOGE’s Historical Patterns Suggest Potential Breakout

The DOGE price jumped from $0.15 to over $0.28 during this period. According to popular crypto analyst Ali, this could be just the beginning of a larger move.

Looking at historical patterns, DOGE typically consolidates for extended periods – around 1,000 to 1,200 days – before making significant upward breakouts.

Closely tracking the DOGE price action on the 1-day chart, the analyst observes that previous consolidation phases lasted 38 bars (approximately 1,155 days) and 36 bars (1,096 days), each followed by parabolic price movements.

The current pattern, highlighted by a descending triangle formation, shows a 42-bar consolidation (roughly 1,280 days), suggesting a potential breakout cycle similar to previous trends.

Moreover, the key support level at $0.04909 has served as a strong base for previous uptrends. Based on Fibonacci extension levels and historical patterns, Ali suggests potential targets between $3.95 and $23.26, although such predictions should be viewed cautiously.

Other memes like WIF, FLOKI, and MEW are also surging. The WIF price pumped over 20% and is now trading above $3, though still below its all-time high of around $4.7.

FLOKI and MEW haven’t been left behind, surging over 15% and over 30% respectively since the election results.

Traders are now hoping that this bull run will continue as memes lead the way.