Will Meme Coins Like PEPE, FLOKI and BONK Give A 2x Surge?
The post Will Meme Coins Like PEPE, FLOKI and BONK Give A 2x Surge? appeared first on Coinpedia Fintech News
As the crypto market bounces back, with the Bitcoin price surpassing the $65,000 barrier overnight, the meme coins seem slightly under the weather. Under a healthy correction, they are awaiting their next massive jump.
The meme coins could skyrocket soon, with the altcoins siphoning additional bullish momentum from the recovering market. However, the low-cap coins project better chances of a quick and bigger jump in the coming weeks. So, let’s have a closer look and check out the price analysis of some high-potential altcoins.
PEPE Price Retest Preps Another Spree
One of the best-performing meme coins in 2024, PEPE price action shows a falling wedge breakout rally completing a rounding bottom reversal. The uptrend exceeds the $0.000010 psychological mark but showcases retest in action.
With the VI lines in a positive alignment and the uptrend in ADX, the DMI indicator shows a bullish trend in action. The underlying demand for the PEPE meme coin shows a high likelihood of a price jump.
In case of a bullish trend, the PEPE price could reach the $0.000019 mark. On the flip side, a drop under $0.000010 could test the $0.00000925 support.
Uptrend In Floki Eyes $0.00042
With a bull run in motion, the FLOKI price action shows a falling wedge rally gaining momentum with a double bottom. As the meme coin exceeds the neckline at $0.00019, the resistance at $0.00021 leads to a retest of the bullish breakout.
Currently, the FLOKI price consolidates within two crucial Fibonacci levels and awaits a surge in buying pressure. A bullish trend will pump the meme coin to the 1.618 Fibonacci level at $0.00040. However, a slip under $0.00019 will nullify the breakout and dump it to $0.00016.
Solana’s Meme Coin Preps Double Bottom
The biggest meme coin in the Solana ecosystem, the BONK price action displays a wedge pattern breakout. Further, similar to Floki, it attempts a double bottom reversal for additional momentum.
As the meme coin takes support at the 50D EMA and the 38.20% Fibonacci level, the uptrend chances are improving. However, the lack of RSI divergence questions the uptrend.
Considering that the broader market will improve, the BONK price could surpass the neckline at $0.000028. In such a case, the breakout rally could reach the $0.00003786 mark.
Filed under: Bitcoin - @ May 17, 2024 11:25 am