Memecoins
Memecoin Analysis: Pepe, Bonk and GME Price Predictions for This Week
June kicked off an impressive rally for meme coins, with several popular coins attracting significant interest from buyers, leading to massive price increases. One notable event was the return of Keith Gill, better known as “Roaring Kitty,” which triggered a surge in GME memecoin prices. Additionally, there were significant fluctuations in the prices of Pepe and Bonk coins last week, suggesting the potential for further increases in the coming week.
Memecoins are in the spotlight amid volatility
Last week, the GME memecoin, which operates on the Solana blockchain, experienced an unexpected surge. This increase has triggered a bullish outlook for both Pepe and Bonk prices, prompting analysts to revise their forecasts for the meme coin market in the coming week.
Pepe price analysis
Pepe price has witnessed intense volatility over the past few days as the price faced strong rejection around the $0.000015 resistance mark. This pushed the price towards the low of $0.0000116. However, buyers have defended that level and the price currently hovers around $0.00001235, falling more than 10% in the last 24 hours.
Buyers aim to maintain momentum and push the price above the descending resistance line. While the $0.000016 mark may pose a challenge, it is expected to be surpassed. After that, the PEPE/USDT pair may aim for a rally towards the strong resistance at $0.0000173.
On the contrary, if the bears want to stop this upward movement, they would have to quickly sink the price below the 50-day SMA at $0.0000112. In that case, the pair may fall to $0.00000889 and further towards the crucial support level at $0.00000772.
Analysis of bank prices
XRP remains close to its moving averages, suggesting minimal and aggressive activity from traders. Bonk strongly rejected the $0.000033 level and fell below the immediate Fibonacci channels, resulting in a consolidation around $0.000028. As of this writing, Bonk’s price is trading at $0.0000284, up more than 3% in the last 24 hours.
The falling moving averages and mid-level RSI suggest that prices may continue to move lower. A break and close above the current consolidation could signal a bullish recovery, potentially pushing the BONK/USDT pair towards the $0.0000369 resistance level. Further buying pressure could push the price towards $0.000048
Conversely, a decline below the $0.000024 support line could invalidate the bullish pattern, potentially pushing the pair down to the $0.000017 support level.
GME price analysis
The price of GME recorded a notable recovery, rising from a low of $0.013 to $0.018. However, the bears continue to defend a rise above the resistance lines, slowing down the buying momentum. As of this writing, the price of GME is trading at $0.017, up more than 10% in the last 24 hours.
The 20-day exponential moving average (EMA) shows a slight increase to $0.016, and the relative strength index (RSI) is hovering above the midline, indicating dominant buying pressure. If the price manages to rebound from the current position, it could rise towards the $0.032 mark and possibly set a new all-time high.
However, if the bears push the price below the $0.012 support, it could cause the GME/USDT pair to move back to its crucial $0.008 support to test the strength of the buyers.