Meme coins are experiencing a price increase once more. Might this signal that faith is being restored in the crypto market?
Meme coins serve as a warning signal in the crypto world, indicating that market conditions are stable. With Bitcoin securely advancing within its bull flag and altcoins expected to follow suit, this recent meme coin price surge might be an indication that individual investors have grown confident enough to re-enter the market.
Dog Wif Hat $WIF
When it comes to the memecoins, Dog Wif Hat (WIF) is fast becoming the crowd favourite. The $WIF price has just broken out of the down trend, which has been in force for more than three weeks now. As can be seen in the chart above, $WIF has just retested the trend line (also support) and should it hold, the price will likely climb higher from this perfect entry. Targets are at the all-time high of $4.86, and the 1.618 fibonacci at $6.65.
Pepe $PEPE
The price of $PEPE has made a noteworthy upward move since mid-March, breaking free from its previous downward trend. This breakout indicates that the resistance level at $0.00000763 may now be transformed into support. If this holds, we can expect the price to reach around $0.0000109 based on the measured move of the channel. An even more optimistic projection would place the next target at $0.00001515, which aligns with the 1.618 Fibonacci level.
Jeo Boden $BODEN
As the November elections approach, the performances of Jeo Boden (BODEN) and Trump (MAGA) are sure to keep us engaged. The BODEN price, which had previously surged with confidence, has retreated and is now hovering within its triangle chart pattern. There’s still a possibility that the price could burst out of this pattern before the day ends. The support level for the price sits at around $0.6150, while the bottom of the triangle could also provide some cushion. If the breakout occurs, the target would be around $0.906, and an ambitious goal might be $1.49.
Trump $MAGA
Among the four memcoins listed here, Trump Coin (MAGA) has experienced the most prolonged price decrease, resulting in a substantial 70% reduction. Currently, the coin is attempting to break through resistance at $5.58. If successful, potential upward momentum could lead to targets of $6.94, $9.00, and $10.45 in the near term.
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2024-04-24 18:12