Meme coins have been under bearish pressure in recent months amid waning demand caused by declining prices across the broader crypto market. These coins could be poised for even more volatility after several US Senators launched an investigation into President Trump’s upcoming meme coin conference at Mar-a-Lago. This conference could affect the price forecast on Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe Coin (PEPE).
US Senators Investigate Trump’s Meme Coin Conference
A recent statement released by several US senators, including Elizabeth Warren, Adam Schiff, and Richard Blumenthal, has called out President Trump for organizing a conference for TRUMP meme coin holders at Mar-a-Lago. The senators said that they want Congress to understand the extent to which Trump and his family were profiting from the crypto industry.
The senators noted that the conference was manipulating the price of the TRUMP meme token, which bounced slightly after the event was announced. They also highlighted the losses suffered by the token holders.
“Event organizers are promoting a conference by dangling access to President Trump to potential attendees and, in doing so, are encouraging purchases of his meme coin that will generate transaction fees for the President and his family,” they said.
Amid this development, the price of top meme coins, including DOGE, SHIB, and PEPE, is now in focus, with the forecast suggesting a potential uptick in volatility in the near future.
DOGE Price Forecast as ETF Inflows Hit 4-Month High
The DOGE price forecast amid the upcoming meme coin conference at Mar-a-Lago shows mixed signals. Demand for the token appears to have surged after inflows to the spot DOGE ETF surged to the highest level since January, according to SoSoValue data.
However, while demand for the ETF spiked, the RSI shows that spot buying pressure remains suppressed. This indicator has a neutral reading of 50, a sign that neither bulls nor bears have the upper hand. However, the bullish crossover of the 50-day SMA above the 100-day SMA suggests the bullish momentum might grow stronger.
If the crossover triggers an increase in buying pressure, DOGE price will likely surge to test resistance at the 78.6% Fib level at $0.0943 before the next leg up towards $0.10. However, if the rally fails, Dogecoin price may drop to $0.088.
SHIB Price Forecast as Burn Rate Stalls
SHIB price traded at $0.0000059 at press time with a slight 0.4% drop in 24 hours. The third-largest meme coin has been drawing a bearish forecast from analysts after data from Shibburn revealed that the burn rate has dropped to multi-month lows.
However, SHIB’s daily chart supports a bullish long-term Shiba Inu price prediction due to a symmetrical triangle pattern formation that suggests a bullish breakout could happen. At the same time, the Chaikin Money Flow (CMF) indicator shows that buying pressure is beginning to outpace selling pressure.
If SHIB breaks out of the symmetrical triangle pattern, the price may surge to the target price of $0.00000743.
PEPE Price Forecast Amid Crash to Record Lows
PEPE price has been struggling at record low prices despite the filing of a spot PEPE ETF by Canary amid low demand for a Dogecoin product. At press time, PEPE traded at $0.00000354 with a slight 0.9% gain in 24 hours. Now, a falling wedge pattern signals that a bullish reversal might happen.
If PEPE moves above the falling wedge resistance level of $0.00000375, the price could register a rally towards $0.00000725. However, for this long-term PEPE price prediction to work out, buying pressure needs to surge.
Currently, this is not the case, with the 51 RSI reading showing that the momentum remains bearish. Unless buyers step in, PEPE could continue moving sideways at record lows.
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