Any other “piece of cake” for SHIB, DOGE, ELON?

SHIB and ELON were among the top performers in October 2021. Strictly speaking, it’s especially strange that these assets only show up during the current bull run. They’re like the 2017 ICOs but at their peak and investors keep coming back for more. However, the bubble can burst at any time, just like it did in 2017.

This article analyzes how much profit can be expected from these coin memes as the market nears the near end of the bull cycle.

Bet on coin memes

Source: TradingView

DOGE is currently at its peak with a market cap of $ 34 billion, but hasn’t created the same sense of upward pressure since it crashed in May. On the other hand, SHIB and ELON performed strongly during the month. 10. Both increased 815% and 4102%, respectively, compared to DOGE’s 38% gain.

November is a time of collective adjustment. SHIB is down 21%, DOGE by 6% and ELON by 18%. As the price continues to rise over the long term, these tokens should bounce back, but could be a big difference.

Source: Santiment

DOGE is no longer a trend tool. Its community is not entirely active, while Shiba Inu currently has the largest say. SHIB is so popular that its official Twitter account currently has more followers than ETH. On-chain indicators also suggest that investment opportunities remain optimistic. SHIB’s 30-day MVRV ratio is currently below zero, which means the price could reverse in the short term.

Source: Santiment

The conditions are more difficult for ELON. With the price peaking in the last week of October, profit-taking has declined and the first-time investor could be sold out. Its 30 day MVRV is higher than the SHIB, which means it can be adjusted on the graph.

How Much Money Do Memes Make?

Investing in the above assets is also risky. However, the sheer importance of the positive mood attached to SHIB is commendable. Social volume has tripled from DOGE’s bullish high. Ideally, SHIB investors can still have x2 capital from now on and the upward momentum is expected to continue until the end of December.

DOGE and ELON are currently not showing any strong momentum in the chain, so many are wondering what will happen next.

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Minh Anh

According to AMBCrypto

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