Memecoins
Major meme coins report a double surge in July
Despite Bitcoin trading at $60,000 levels and Ethereum stuck near $3,300, meme coins are trending and offering a huge jump. With the return of major meme coins this week, these community and hype-driven coins are poised for a successful rally.
After days of correction that led to bearish patterns and a major resistance trendline, the recent trend reversal anticipates a significant trend reversal. Considering the bull run continues in these meme coins, the high momentum uptrend can lead to a 2x or more increase in the coming weeks.
DOG (Rune) Below Wedge sets up 71% of the breakout run
With a pullback phase creating a descending wedge on the 4-hour chart, the DOG price chart reveals a bullish cycle in motion. During the pullback phase, the DOG token price fell by 50% within three weeks from the peak of $0.009768. As the meme coin failed to break out of the psychological limit of $0.010, the fall found support near the psychological support of $0.0050.
However, with a 15% recovery rally in the recent bull cycle, the uptrend is in opposition to the trendline and $0.005810 resistance level. With an evening star near the confluence of supplies, the meme coin struggles to break through.
Therefore, a reversal within the pattern could test the $0.0050 threshold again. However, with the meme coin segment rising, the uptrend could reach the $0.010 mark with minor resistances at $0.0066 and $0.0085.
Floki Eyes Dog Themed Meme Coin Recovering 85% in July
As one of the best-performing meme coins, FLOKI’s price sustains year-to-date growth of 372% despite a decline in the broader market. During the recent sell-off, the meme coin lost 50% of its market capitalization after peaking at $0.0003204.
However, with the recent support and rejection of the price below $0.00015, the meme coin suggests a rounded bottom reversal. If FLOKI’s price action manages to take off from the $0.00015 support, the uptrend could challenge the 78.60% trend-based Fibonacci level at $0.00034.
Furthermore, with the bullish trend and broader market recovery, the FLOKI coin price can reach a new all-time high near the $0.00050 mark.
Falling channel in WIF meme coin prep breakout run
With a bearish channel pattern on the daily chart, the pullback phase in WIF price represented a drop of almost 60%. However, in the recent bull cycle from $1.58, the meme coin undergoes an 18% price jump to challenge the trend line above.
With the bullish cycle, the WIF price anticipates the breakout of the channel and the 61.80% Fibonacci level at $2. Furthermore, the recovery rally anticipates a bullish crossover in the MACD and signal lines, a potential trend reversal signal.
With the rush to breakout, the meme coin can reach the current all-time high of $4.58 next month. This will suggest a prolonged uptrend.
PEPE’s reversal into the downtrend breaks the overall trend line
As one of the best-performing meme coins, PEPE price hits an all-time high at $0.000017. However, as the cryptocurrency market collapsed, the frog-themed meme coin took a gradual approach, creating a new resistance trendline.
However, the recent bounce from the 50% Fibonacci level into the $0.00001080 support zone leads to a breakout. As the overall trend line breaks, PEPE price suggests a bullish trend reversal.
If the broader market recovers, the PEPE price rally could reach a new all-time high with the breakout of $0.000018. Optimistically, the bull run can reach the psychological level of $0.000020.
BONK channel breakout eyes $0.000050
Like most major meme coins, BONK price action shows a declining channel pattern. However, with the recent trend reversal, BONK price breaks above the overall trend line. This reversal move starts with taking psychological support at the $0.000020 level.
Furthermore, the breakout event brings a bullish crossover in the MACD indicator. And the RSI line jumps from the oversold limit. Therefore, technical indicators reveal a bullish rebound.
If meme coins maintain an uptrend, the BONK price can peak at $0.000040 before reaching the psychological level of $0.000050.