Memecoins Regains Strength as Bitcoin Recovers: WIF, FLOKI, DOGE & PEPE Price Soar
The post Memecoins Regains Strength as Bitcoin Recovers: WIF, FLOKI, DOGE & PEPE Price Soar appeared first on Coinpedia Fintech News
The crypto markets are recovering from the recent loss caused by the drastic drop in the Bitcoin price from around $64,500 to as low as $56,600. This led to a massive drop in the spot market capitalization, which found lows of around $2.13 trillion. However, the latest recovery of the BTC price back above $63,000 has induced the required strength within the markets, along with the memecoins, which have been among the top performers since the early trading hours.
dogwifhat (WIF) Price Analysis
dogwifhat has gained immense attention since the start, as the price remained under bullish influence. Despite an ongoing brawl with the Bears, the Bulls have maintained significant dominance. As a result, the WIF price has been surging for the past few days, regardless of the interim pullback faced by the major cryptos. Therefore, the WIF price, which is testing crucial resistance at $3.3, is expected to maintain a healthy upswing until $3.8, which may further pave the way to reaching $4.3.
FLOKI (FLOKI) Price Analysis
After breaking out of the consolidation and surging by over 800%, the FLOKI price was trading within a descending parallel channel. The recent rebound from the lows received immense support from the bulls as a fine breakthrough beyond the resistance occurring. A bullish start for the next day’s trade above the levels could certify a rise beyond the bearish well. This could pave the way for the FLOKI price to rise above $0.0002 in the next few days.
Dogecoin (DOGE) Price Analysis
The Dogecoin price has been defending the local support at $0.12 in times of extreme bearish trend. The price has been trading within an expanding rising channel and before reaching the lower support, the token has triggered a bullish rebound. This move has made sure that the price could rise towards the upper resistance zone between $0.169 and $0.1845. Once done, the price may maintain a healthy upswing to reach $0.2.
Pepe (PEPE) Price Analysis
Pepe’s price began the 2024 minor bull run by triggering an 850% jump in the first few days of March. The token further consolidated within a descending parallel channel, which was broken during the recent rebound. The PEPE price has pierced above the upper resistance of the channel, suggesting the revival of a fresh bullish spell. The price is believed to maintain a healthy upswing, which may enable the token to rise above $0.0001 in the coming days.
Filed under: Bitcoin - @ May 4, 2024 10:21 am