While we cannot exclude some memes like DOGE, PEPE, SHIB to experience some bullish price action in September 2024, chart analysis suggests that it will be both contained and short-lived.
In this article, we look at the 3 leading meme coins by market cap:
- DOGE
- SHIB
- PEPE
Interestingly, the message of their charts is consistent: meme season is not here.
Even though we may see some bullish price action in September of 2024, it will be contained and short lived is the logic conclusion.
Meme coin PEPE – chart message
PEPE – While not the largest meme coin in terms of market cap, it certainly became the most popular meme coin lately.
As explained in our Pepe (PEPE) price prediction, PEPE is consolidating between two bullish Fibonacci levels: the 38.2% and 50% Fibonacci levels.
The chart says it all – the dominant chart pattern is likely going to morph into a bullish pattern, but the time for a big move higher is not here.
Therefore, it is impossible for PEPE to move much higher in September of 2024.
Is this bad news?
NO, not at all, on the contrary in fact. A bullish reversal needs to be complete. The longer it takes to complete a bullish reversal, the stronger it gets. Therefore, meme enthusiasts should be happy if the reversal is going to take many more months to complete.
That’s because a longer reversal will ultimately give more upside.
The 10x moves, as shown on the PEPE chart, tend to occur in a matter of 10 days.
Meme coin DOGE – chart message
Similar to PEPE, we see a bullish reversal developing on the DOGE chart.
The reversal is not complete, on the contrary, several more months are need for DOGE to move to higher targets like 0.256 and ultimately 0.66.
“It ain’t gonna happen in September of 2024.”
According to our Dogecoin (DOGE) prediction, DOGE will consolidate in a rather narrow range in September of 2024. This range will coincide with the 2024 range which is $0.0799 to $0.18.
Again, that’s not a bad thing, it’s a good thing, because the longer the bullish reversal the higher the upside potential.
Meme coin SHIB – chart message
SHIB has the most outspoken bullish pattern among the 3 meme coins discussed in this article.
The W-structure that is developing on this chart as a long term pattern is so blatantly clear.
As said in our latest Shiba Inu (SHIB) prediction, the trading range wil be narrow in 2024. Higher targets are possible in 2025 though.
Therefore, we are not bullish (nor bearish) for September 2024, we are very bullish for 2025!
Conclusions – meme season is not here
Meme season is not here, not yet.
September 2024 might give us some bullish price action, however it will be contained.
The big pumps (10x and more) will not happen in September of 2024.
However, positioning with a careful buy the dip strategy is likely the best approach for meme enthusiasts in September of 2024.
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