Top 3 meme coins Dogecoin, Shiba Inu and Pepe: Rally continues
The prices of the top 3 meme coins by market capitalization, Dogecoin (DOGE), Shiba Inu (SHIB) and Pepe (PEPE), extend their gains on Friday after a rally on Thursday. The technical outlook for the three coins hints at further gains ahead as they all broke above bullish technical patterns.
Dogecoin price broke above the falling wedge pattern (drawn by connecting multiple high and low levels with a trendline from early March) on Thursday. As of Friday, it continues to trade higher, around $0.123, the highest level since the beginning of August.
Crypto traders turn greedy, Uniswap leads, XRP lags top 20 altcoins in last 24 hours
The CoinDesk20 Index measures the performance of the 20 largest cryptocurrencies by market capitalization from the CoinDesk Market Index (CMI). In the last 24 hours, the altcoins in the top 20 yielded gains for holders with Uniswap (UNI) leading at 8% and XRP, Aptos (APT) lagging at 0.99% and -0.10% respectively.
As altcoin performance improves, the Crypto Fear & Greed Index used to measure the sentiment among traders on a scale of 0 to 100, flashed “greed” after nearly a month of fear and neutral readings.
Uniswap is poised for a rally on triangle breakout and positive on-chain metrics
Uniswap (UNI) trades around $7 on Friday after rallying 8.5% and breaking above the ascending triangle pattern on Thursday. This bullish breakout is further supported by UNI’s daily active addresses, which have reached a new all-time high and Exchange Flow Balance, which shows a negative spike, all hinting at an upcoming rally.
Uniswap price broke and closed above the ascending triangle formation on Thursday and rallied 8.5%. This pattern was created by drawing two trendlines from August 2, connecting swing points on the daily chart between two higher lows and multiple equal highs. This technical pattern breakout favors the bulls, and the target is generally obtained by measuring the distance between the first daily high and the first daily low to the breakout point. At the time of writing on Friday, it trades slightly higher, around $7.38.
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