All the hype aside, here’s where the mainstream memecoin stands from a technical point of view. Major-cap memecoins have carried on trading sideways during the United States mid-term elections. With the Democrats snatching the majority at the Senate, it appears that Shiba Inu (SHIB) was among the altcoins that have softly rebounded, erasing Monday’s deficit, but still trading below several moving-average based thresholds.