Crypto influencer Davinci Jeremie noted that during the last bull cycle, Dogecoin (DOGE) reached a market cap of $88.8 billion, while SHIB peaked at $40 billion<\/a>. The bull run will take the market cap of meme coins to a trillion dollars.<\/p>\n Last cycle we saw $DOGE<\/a> coin hit $88.8 billion market cap & $SHIB<\/a> hit $40 billion.<\/p>\n I think we\u2019ll see memes as an asset class hit close to $1 trillion market cap this cycle<\/p>\n \u2014 Davinci Jeremie (@Davincij15) October 17, 2024<\/a><\/p><\/blockquote>\n Currently, the market capitalization of meme coins has surged to $58 billion, although still behind other up-and-coming crypto sectors such as AI-based tokens and real-world asset cryptos, but still a solid amount nonetheless.<\/p>\n On the bullish side, investors would have a pretty good chance of significant profits upon its break from resistance levels into $0.000028, with the current momentum at their side, there is hope that the rest of the meme coins might also witness good performance, too.<\/p>\n It might have ended its global trend reversal and gone off a prior downtrend but do not count it out yet since during the late parts of September 2024, SHIB<\/a> saw a huge spike as it recorded an all-time high at $0.00002135.<\/p>\n This peak successfully broke two strong resistance levels which can only mean good for the coin and other meme coins. From the technical analysis from PS Trade, there is a high resistance point that is at $0.00002052 where around 83.75 trillion tokens are kept at this price level.<\/p>\n $SHIB<\/a> \u2014 PS trade (@PStrade2) October 16, 2024<\/a><\/p><\/blockquote>\n PS Trade said the global downward trend reversal structure is complete even if the price of SHIBUSDT is still not increasing very strongly on the three-day period. For this coin, he said their aim is therefore 100% increase.<\/p>\n It was found that by the end of September, a double local top had been formed in two successive days above its high made in the middle of July. However, the strongest resistance band lies between $0.000018 and $0.000020 since 439.16 trillion tokens are dispersed across 45,620 wallets. If the bullish trend of SHIB continues, then it might test the next major hurdle at $0.000028.<\/p>\n\n
The Current Status Of Meme Coins<\/strong><\/h2>\n
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\nAlthough the price of #SHIBUSDT<\/a> is still not rising very confidently on the 3-day timeframe, the global downward trend reversal structure is complete. Therefore, our target for this cryptocurrency is 100% growth. pic.twitter.com\/DhOcxx3j1T<\/a><\/p>\n![\"\"](\"https:\/\/www.shenyangcang.com\/wp-content\/uploads\/2024\/10\/A_b04c87.png?resize=1024%2C485\")
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