Bitcoin has reclaimed the $61,000 level, leading to a strong bullish recovery in the crypto market. The Memecoin category has seen a significant increase of $2.17 Billion in market cap, contributing to 3.38% of the total inflow over the past day.
Are you considering investing in memecoins but worried about their volatile nature? In this article, we delve into market sentiments, price analysis, and potential short-lived price targets for the top 4 meme coins that could dominate the upcoming crypto bull rally.
Brett (Based) (BRETT) Price Action
Despite a bearish sentiment for the past month, the Brett price has surged over 20% in the last 24 hours. With a 24-hour trading volume of $94.037 Million and a market cap of $895.59 Million, this meme coin now holds the 69th position in the global crypto list.
The MACD technical indicator has remained flat in its 1D time frame, but there is a bullish convergence in the BRETT price chart, indicating a mixed sentiment in the market.
If the Brett memecoin price stays above its support level, the bulls may push it towards the resistance level of $0.12285. Conversely, a bearish scenario could see the coin drop to its low of $0.07395.
Dogwifhat (WIF) Price Action
With a 14.98% surge in the past day and a trading volume of $401.144 Million, the Dogwifhat price has shown a bullish recovery. Despite a 37.69% correction in the last month, long-term investors have seen a YTD gain of 930.15%.
The RSI indicator shows a bullish rise in the WIF price chart, signaling increased buying pressure. However, the EMA 50/200-day suggests a potential Death Cross, introducing uncertainty in the future price movement.
If the bulls regain control, the WIF price could target its resistance level of $2.10. Conversely, a bearish scenario might lead to a retest of the support at $1.240.
Floki (FLOKI) Price Action
Floki has continued its bullish trend with a 10.89% increase in the past day and 3.27% over the week. With a yearly surge of 247.09%, it now holds the 56th position with a market capitalization of $1.207 Billion.
The Simple Moving Average (SMA) is close to a bullish crossover in the 1D time frame, indicating increased buying pressure. Additionally, the MACD shows a continuous rise in the green histogram, with a positive average crossover.
If the bulls maintain momentum, the Floki price could surpass its resistance level of $0.000155 and move towards $0.00021435. On the other hand, a trend reversal might bring the price down to the crucial support level of $0.00010190.
Pepe (PEPE) Price Action
Pepe has seen an 8.17% increase in valuation over the past day, with a 24-hour volume of $736.58 Million. Despite a bearish trend since its ATH, the Pepe memecoin has dropped over 53.00% in the last 3 months.
The Relative Strength Index (RSI) has shown a bullish rise in Pepe’s price action, indicating a bullish sentiment. The SMA indicator also suggests a positive outlook for the Pepe memecoin this week.
Keeping the price above the $0.00000880 support level could lead Pepe to test its high of $0.00001150. Conversely, a bearish scenario might see the PEPE coin price retest the important support level of $0.00000625 in the near future.
