Cryptocurrencies Price Prediction: Dogecoin, Monero & Zcash — Asian Wrap 09 October

Meme coins retreat as Dogecoin, Shiba Inu, and Pepe face renewed bearish pressure

Meme coins, such as Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe (PEPE), are losing ground as the broader cryptocurrency market faces selling pressure. Dogecoin risks further losses within a symmetrical triangle pattern while Shiba Inu and Pepe approach a key support level. The broader cryptocurrency market sentiment directly dictates the demand for meme coins, bolstering their speculative nature. The retail interest for DOGE and SHIB remains steady while PEPE struggles to keep up.

Monero Price Forecast: XMR extends gains, bulls target four-month highs

Monero (XMR) is trading in green at around $333 as of Thursday's writing, having rallied more than 4% the previous day. The derivatives data further support the bullish outlook as Open Interest (OI) and bullish bets continue to rise. Meanwhile, technical analysis suggests further gains, targeting levels above $357. Futures OI in Monero at exchanges rose from $39.84 million on October 1 to $58.61 million on October 5, the highest level since the end of May and currently steadies around $55.72. Rising OI represents new or additional money entering the market and new buying, which could fuel the current XMR price rally.

Top Crypto Gainers: Zcash, Mantle outshine market turbulence, Pudgy Penguins ranks third

Zcash (ZEC) and Mantle (MNT) record double-digit gains in the last 24 hours, outperforming the broader cryptocurrency market. Pudgy Penguins (PENGU) ranks third among the best-performing cryptocurrencies over the same period, with a nearly 7% rise on Wednesday. Technically, ZEC and MNT are in a strong uptrend, hinting at further gains, while PENGU stalls within a falling channel pattern.