Memecoins
No Pepe Coin, here are 3 Ethereum Meme Coins to buy in June
The cryptocurrency market has witnessed a renewed recovery following Bitcoin’s reversal from $56,000 in May. While most major altcoins have seen a notable uptrend, the Memecoin sector has bounced back with greater momentum as it attracts speculative traders who are adept at navigating rapid market changes and capitalizing on quick profit opportunities. Furthermore, with the recent approval of spot ETF ETH from the US SEC, Ethereum Meme coins they were among the biggest gainers in the recent rally. If you missed Pepe coins rally to its new all-time high, the best Meme coins to buy are Shiba Inu (SHIB), Memecoin (MEME), and Floki to capture similar trends.
Read also: Cryptocurrency Market Prediction: MVRV Report Suggests Bitcoin Bull Run Has Room to Grow
1) Shiba Inu (SHIB)
Shiba Inu (SHIB) is a meme-based cryptocurrency that began as a playful homage to Dogecoin. Key fundamentals for SHIB include its significant social media presence, strategic use of tokens to reduce supply, and the continued development of its ecosystem.
Shiba Inu (SHIB)| Tradingview
On the daily chart, the SHIB price it is steadily recovering under the influence of the ascending trend line. Dynamic support lifted the asset from the April 13 low of $0.0000183 to $0.000026, registering a 45% increase.
At the time of writing, the Shiba Inu price had a market capitalization of $14.7 billion, while 24-hour trading volume fell to $250 million.
If the previously mentioned support is intact, buyers could breach the swing high resistance of $0.00003. This breakout could offer better confirmation of the market sentiment shift from selling on rallies to buying on dips.
The post-breakout rally could push the asset to $0.000038, followed by $0.000054.
Read also: Shiba Inu’s Shibarium Achieves Major Feat, Reduces Ethereum Bridge Time
2) Floki
Floki is a meme-inspired cryptocurrency that has evolved significantly from its origins as a playful homage to Elon Musk’s Shiba Inu dog. The core of Floki’s ecosystem includes Valhalla, an NFT gaming metaverse that allows players to earn rewards through immersive activities such as battles and resource trading.
Floki| Tradingview
In the context of current market consolidation, the Floki price we witnessed a weakening of the bullish momentum, resulting in a reversal from $0.000313. This bearish trend reversal caused the meme coin to plummet 16% to $0.0000259, while the market capitalization plummeted to $2.44 billion.
In case of supply pressure, the price of the coin could fall another 20% to seek support on the ascending trend line. This dynamic support is maintaining a bullish trajectory for almost three months and can regain the exhausted bullish momentum in FLOKI.
A potential bounce from this level could push the asset above the $0.0000313 mark.
Read also: Coinbase adds Shiba Inu, FLOKI, BONK in full trading mode, prices to recover?
3) MAGA (Trump)
MAGA coin, also known as TRUMP, is a meme cryptocurrency inspired by the “Make America Great Again” slogan associated with former US President Donald Trump. The coin aims to blend political finance (PoliFi) with traditional cryptocurrency principles, targeting Trump supporters and conservative causes.
MAGA (Trump)| Tradingview
The Trump coin entered an aggressive recovery rally starting from the second week of May, when the price rebounded from the $4.12 support. The reversal pushed the asset 256% to its current value of $14.7, while the market capitalization stood at $637.4 million.
Amid this rally, buyers recently made a decisive breakout from the angular resistance trendline and the $10.5 horizontal barrier. Support from this breakout should provide buyers with adequate support to drive a rally higher and target the potential at $22, followed by $25.
Read also: Donald Trump’s prison talks rattle markets; Bitcoin price down 3%
Key takeaway
The current market recovery is particularly robust in the Meme coin sector, attracting speculative traders eager for quick profits. Shiba Inu (SHIB), Floki, and MAGA (TRUMP) are prominent Ethereum-based Meme coins that demonstrate significant potential to lead a sustained rally through 2024. These coins stand out with their strong community support, innovative projects, and impressive recent market performance.
Related articles