Memecoins Turn Super Bullish! Top 5 Tokens To Dominate Market?

2 months ago 21

The post Memecoins Turn Super Bullish! Top 5 Tokens To Dominate Market? appeared first on Coinpedia Fintech News

As the price of Bitcoin (BTC) retests its important resistance level of $60,000, the crypto market has regained momentum over the past few hours. Moreover, the market has recorded a jump of 1.97% within the past day and is currently valued at $2.09 Trillion.

Following this, top memecoins recorded a similar price action by breaking out of their important resistance levels. With this, meme investors are curious about the short-term prospects of memecoins amid rising uncertainty.

Scroll down as, in this article, we have covered the price action and potential monthly price targets of Dogecoin, Shiba Inu, Pepe, Dogwifhat, and Bonk memecoins.

Dogecoin (DOGE)

With a jump of ~5% within the past day, the Dogecoin price has held its value above the $0.1 mark. Moreover, with a trading volume of $663.713 Million, it has recorded a 24-hour High of $0.1083. Further, it has added 17.24% over the past week and has a YTD return of 19.64%.

The MACD indicator shows a bullish rise in its averages, indicating an increase in the buying pressure. Moreover, the chart displays a constant rise in the green histogram. This suggests that the memecoin leader, Dogecoin price may continue gaining value in the coming time.

If the bulls break out of the resistance trendline of the symmetric triangle pattern, the DOGE price could head toward its upper high of $0.12730. However, a bearish setback could pull the price toward its support level of $0.101 this month.

Also read, Shiba Inu Price Prediction 2024 – 2030

Shiba Inu (SHIB)

Following in the footsteps of DOGE memecoin, the second largest memecoin by market cap, SHIB price has added 4.68% with a trading volume of $159.58 Million. With a Year-to-Date return of +35.16%, it has secured the 13th position with a market cap of $8.23 Billion.

The Relative Strength Index (RSI) has surpassed its neutral point in the 1D time frame. Further, the average trendline constant acts as a support to the SHIB price chart. This suggests a strong bullish sentiment for the Shiba Inu memecoin in the market.

A bullish reversal could push the SHIB price toward its high of $0.0000170. Further, if the market continues gaining momentum, it may head toward its upper high of $0.00002350. Conversely, if the bears gain momentum, this memecoin may retest its low of $0.00001175.

Pepe (PEPE)

The second most successful Ethereum-based memecoin, the Pepe price has surged ~18% within the past week with a high of $0.00007947. Moreover, it has rewarded its long-term investors with a YTD return of +456.65%. Notably, it is presently trading at a discount of 53.92% from its ATH.

The EMA 50/200-day is on the verge of recording a Death Cross in the 1D time frame. However, the 50-day shows a potential bullish reversal. This indicates a high possibility of a bullish rebound in the coming time.

If the bulls continue gaining momentum, the PEPE price may break out of its resistance level and head toward its high of $0.00001150. On the flip side, a bearish action could pull the pepe coin price toward its crucial support level of $0.00000625.

Also read, PEPE Price Prediction 2024 – 2030

Dogwifhat (WIF)

By recording a 10X surge this year, the WIF price has taken over the memecoin world by storm. Reportedly, this crypto token has added 4.83% within the past 24 hours with a volume of $252.28 Million, and 10.23% over the past week.

The Simple Moving Average (SMA) constantly supports the WIF price chart in the 1D time frame. Furthermore, the RSI indicator records a similar price action. This suggests a positive outlook for the Dogwifhat token this month.

An increased bullish action could result in this Solana-based memecoin heading toward its resistance level of $2.10. On the contrary, if the bears regain momentum, the Dogwifhat price may retest its support trendline of $1.240 in the coming time.

Bonk (BONK)

The BONK memecoin has defied the market sentiments by adding ~3% within the past day and 11.83% over the past week. Despite recording a correction of 8.29% during the past 30 days it has surged 31.06% this year.

The technical indicators EMA 50/200-day and MACD record a strong bullish recovery in their respective price charts. This suggests a potential reversal for the memecoin in the crypto market.

With the rising volatility, the BONK price may head toward its resistance level of $0.00002125. Maintaining the price at that level could set the stage for it to test its upper high of $0.0000270. Negatively, a weak price action could pull its value toward its low of $0.0000150.

Also read, Bonk Price Prediction 2024 – 2030

Read Entire Article