Next Memecoins to Explode, January 8 – Moo Deng, Dogecoin, Shiba Inu

Highlights:

• A sharp market decline impacted all major coins, with Bitcoin falling below $100k and altcoins plummeting.
• Memecoin sector sees increased trading activity despite a sharp market decline, signaling potential buying opportunities.
• Moo Deng, Dogecoin, and Shiba Inu show strong potential as the next memecoins to explode amid market dynamics.

The crypto market has witnessed a sharp decline, with the global market cap plunging 6.50% to $3.35 trillion. Despite the volatility, the 24-hour trading volume surged by 47% to $183 billion, indicating increased market activity. 

All the major coins have suffered the impact of the market decline as the leading asset, Bitcoin, dropped below the $100k key level. Additionally, the altcoins followed suit as Cardano, Solana, and Ethereum led the declines among the top ten altcoins by market cap. 

Following the broad market crash, the memecoin sector posted declines as well. The memecoin market cap dropped by 11% to $102 billion while the trading volume surged by 47% to $15 billion. As the bearish sentiment prevails, the market dip offers buying opportunities. Here is a look at the next memecoins to explode, such as Moo Deng, Dogecoin, and Shiba Inu. 

Next Memecoins to Explode

1. Moo Deng (MOODENG)

MOODENG has been trading on a steep descending channel, recently declining by 48% and 14% on the monthly and weekly charts, respectively. As of press time, MOODENG is trading at $0.2304, down by 18% in the past 24 hours. Its market cap and trading volume are $228 million and $99 million, respectively. 

According to crypto analyst Natalie Dormer, MOODENG shows a strong bullish setup. A breakout out of a descending wedge signals upward momentum. Buyers are accumulating around key Fibonacci retracement levels, between 0.382 and 0.618. This accumulation shows growing investor confidence in MOODENG’s potential.

#MOODENG 💰 #MOODENG
The perfect bullish setup in the market right now 🐃
Breakout of a descending wedge and accumulation at the Fibonacci levels – the next move is up!
Send it 📈
🎯1 Target: $0.49175
🎯2 Target: $0.64771
🎯3 Target: $0.80234#MOODENGUSDT
Visit… pic.twitter.com/lidJznAbpu

— Natalie Dormer (@NatalDormer) January 6, 2025

Key levels to watch include $0.49175, $0.64771, and $0.80234, aligned with the Fibonacci extensions. As the price rebounds from 0.382, MOODENG emerges as a potential next memecoin to explode.

2. Dogecoin (DOGE)

After the recent rally, which saw DOGE gain 11% on the weekly chart, the bulls lost momentum as the bears took the lead. The memecoin is trading at $0.3508, down by 11% in the past 24 hours. In addition, the market cap has dropped to $51.75 billion despite the surge in the trade volume. 

Crypto analyst Trader Tardigrade is advising against shorting or selling Dogecoin right now. DOGE is retesting the apex of the ascending triangle, which, according to his analysis, is a signal of possible bullish momentum. This pattern had previously broken out in mid-November. With the current market dynamics, Dogecoin could be set up to be the next memecoin to explode.

It's not the time to short or sell your $DOGE now 🔥#Dogecoin is retesting the apex of the Ascending Triangle 🚀 pic.twitter.com/aQuAEy0dou

— Trader Tardigrade (@TATrader_Alan) January 8, 2025

3. Shiba Inu (SHIB)

Shiba Inu is down by 10% today as the price settles at $0.00002160. The bearish sentiment has declined the memecoin 28% over the past month despite a slight recovery on the weekly chart. Moreover, its market cap has dropped to $12.75 billion while the trading volume climbed to $871 million. 

A new reward token, TREAT, was launched into Shiba Inu’s ecosystem and will go live on January 14. To incentivize users to engage with Shibarium, Shiba Inu’s layer-2 scaling solution, TREAT will be implemented. Such development could make SHIB the next memecoin to explode. 

Mark your calendars, it’s going to be legendary

Just 10 days left until $TREAT takes center stage! pic.twitter.com/oFws2veIJ9

— Treat (@treatsforShib) January 5, 2025

Additionally, 44.6 billion in SHIB tokens were burned in 2024, drastically lowering supply. Along with TREAT’s upcoming launch, these factors could propel a rally the memecoin’s price.