Memecoins
DOG, FLOKI, WIF Trigger Bull Run Ahead Meme Coins
With Bitcoin momentarily surpassing $70,000, improving overall market sentiment pushes altcoins towards a rally overnight. In the midst of the market rally, meme coins are the torchbearers of the bull run.
With DOG, FLOKI, and WIF at the top of the performance chart, the bullish trend is gaining momentum in these community-driven small-cap coins. Will the bull run in these coins continue this month with a huge leap? Let’s examine the price chart and technical analysis of DOG, FLOKI and WIF to learn more.
DOG Eyes $0.010 milestone this week
With a reversal of the rounded bottom on the daily chart, the DOG price trend has shown a huge jump in recent weeks. The meme coin’s uptrend represents a 341% price increase over the past three weeks.
With a market capitalization approaching $1 billion, the meme coin is heading towards the psychological milestone of $0.010. According to the trend-based Fibonacci retracement levels, the uptrend of DOG price is ready to challenge the 1.618 level.
A bullish rally above the $0.010 mark can reach the $0.015 mark for a 50% price jump.
Meme Coin Rally Drives FLOKI Bullish Trend
As the meme coin rally continues, FLOKI price action supports the rounded bottom pattern on the daily chart. The bullish continuation pattern shows a neckline at the $0.00030 level.
Currently, the meme coin is showing an overnight jump of 10% to restore the bullish tone. This reassures the continuation of the uptrend and strengthens the possibility of a breakout rally.
Like trend-based Fibonacci levels, a bullish conclusion of the continuation pattern can point to the $0.00042 level.
WIF bulls struggle near 50% Fibonacci
After the bearish reversal from the $4 mark, the WIF price resonates near the $3.35 mark. However, with a solid trend line support, the meme coin has a moving uptrend.
With an overnight increase in volatility, the long-range Doji candle teases a bullish return. A bullish close above the 50% Fibonacci level at $3.35 will fuel the uptrend for a price jump this week.
A resurgence in demand for the meme coin will increase the price of WIF to $6.49.
Will meme coins continue the bull run this week?
With a broader chance of market recovery as Bitcoin aims to reclaim $70,000, meme coins could surge higher this week. However, cautious fringe traders can wait for price action to be confirmed with a bullish close today.