Memecoins
Meme coin price analysis suggests a bull run
With the Ethereum ETF approved Kicking off a bull run in altcoins, meme coins are gearing up for a massive rally. With high momentum moves possible, small cap weight, and strong community support, these are the best bets for traders.
As the top performers, PEPE, FLOKI and BONK are advancing due to further market push. So, let’s take a look at the price analysis of these top meme coins poised for a rally this month.
Post-retest rally boosts this meme coin
In the 1D graph, the Price PEPPER the trend shows a massive overnight increase of 24.63% to form a bullish engulfing candle. The meme coin’s sudden jump marks a successful retest of the 50% Fibonacci level.
With a market capitalization of $4.65 billion, PEPE price ranks 24th in the cryptocurrency world. Additionally, trading volume of $2.24 billion, up 182% in 24 hours, reflects increased buying activity.
Furthermore, the meme coin closed well last night at $0.00001142. However, the intraday decline of 2.90% reflects a slight correction and exhaustion of buyers.
In case the bull run continues with a broader market recovery, the uptrend of PEPE price could reach the $0.000019 mark at the 1.618 Fibonacci level.
FLOKI Breakout Run Eyes $0.00040
By taking the bullish momentum out of the rising market, the FLOKI price it jumped 11.61% last night. This results in a bullish engulfing candle and challenges the 50% Fibonacci level.
Furthermore, the formation of the higher high in the meme coin following the double bottom breakout portends a bull run ahead. Momentum indicators, such as RSI and DMI, support the positive trend as underlying demand increases.
According to Fibonacci levels, the FLOKI token with a market capitalization of $2 billion can climb to the 1.618 level at $0.00040. Side traders can find an entry point with the meme coin price above $0.00021.
BONK Rally Eyes 70% increase.
With a jump of 21% last night, the Solana-based meme coin VERY GOOD price takes off for a new bull run. The running of the bulls comes with a huge
With the breakout rally gaining momentum and a 10% overnight jump, the meme coin is challenging the 50% Fibonacci retracement level. On a positive note, the golden crossover on the 4-hour chart increases the possibility of an uptrend.
According to Fibonacci levels, the uptrend could reach the $0.00005877 mark or the 1.618 FIbonacci level.
Will these meme coins increase this month?
As Ethereum prices rise, altcoins such as meme coins are on the rise. Furthermore, the price action of each token supports the potential bull run. Therefore, the next month could be extremely bullish for PEPE, BONK and FLOKI tokens.
Also check: Best Altcoins Under $1 to Stack Now for 10x Profits in Q2!