Big memecoin bounce from $PEPE, $WIF, and $TRUMP

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As an experienced analyst, I’ve seen my fair share of market volatility, especially in the world of memecoins. The recent bounce in Bitcoin (BTC) has brought a renewed energy to the memecoin space, with $PEPE, $WIF, and $TRUMP leading the charge.

Following Bitcoin‘s (BTC) dip to $58,400 on Monday, a rebound occurred on Tuesday. Consequently, memecoins have gained momentum. Notable gainers include $PEPE, $WIF, and $TRUMP.

As a crypto investor, I’ve noticed that although Bitcoin’s ($BTC) recent price surge might not last, the memecoins are currently profiting from the limelight. For now, they’re thriving in the Bitcoin-driven market conditions.

$PEPE continues bullish uptrend

For those new to the memecoin market, Pepe ($PEPE) is currently the largest memecoin in terms of market capitalization, surpassing many other options besides Dogecoin and Shiba Inu. So, if you’re a novice trader exploring this sector, $PEPE should definitely be on your radar.

Observing the larger timeframe weekly chart of $PEPE, the stock is currently experiencing an uptrend and appears to be rebounding from the 0.382 Fibonacci level. A strong bounce from this point would be a bullish sign for $PEPE, potentially propelling it towards the 1.618 Fibonacci target at 0.000022.

$WIF surges 30% in 48 hours

The memecoin, Doge with a Fedora ($WIF), has emerged as a remarkable achievement for newcomers in the memecoin market. Despite reaching a peak of $4, the value of $WIF has experienced a significant decline. However, there’s been a noteworthy surge of 30% over the past two days, allowing it to reclaim the 0.786 Fibonacci level. A breach above the descending trendline could potentially propel the price back up towards $2.50.

$TRUMP best performing memecoin in last two days

As a researcher studying the memecoin market, I’ve observed that among the three coins discussed in this article, $TRUMP has exhibited the most significant growth over the past 48 hours. Following a low point of $6.50 just two days ago, $TRUMP has experienced a surge, rising by approximately 40% to its current price of $9.

Trade with extreme caution

As a researcher studying memecoins and their relationship with Bitcoin (BTC), I cannot overlook the fact that the performance of these assets heavily depends on BTC’s price trend. The recent BTC bounce should be approached with great caution, as it could merely be a test of the previous resistance level at $61,500. In this scenario, be prepared for potential downside corrections in BTC and subsequent dips throughout the altcoin market.

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2024-06-25 16:19