Memecoins
PEPE and FLOKI lead the rally, while the others follow; Has the Memecoin craze begun?
The crypto space is consolidating again along with the gains that sent memecoins on the run. Once again, the Price PEPPER leads the rally, with over 25% reaching a new ATH above $0.000014 in the early hours of trading. While ETH price is showing more strength, Ethereum-based memecoins are gaining more strength as PEPE is very close to entering the top 20 tokens with almost $5.8 billion in market capitalization.
PEPE price is going according to plan after breaking out of the bullish flag pattern and oscillating in an ascending pattern. The price broke above the 1.2 FIB levels at $$0.00001312 and is about to test the higher 1.4 FIB targets at $0.00001455. Now that market sentiment has turned bullish, the recovery is expected to continue and head towards the next 1.6 FIB target at $0.00001640. Once these levels are reached, the rally could rise to new highs at $0.00002.
On the other hand, FLOKI price has broken through the decisive phase and is approaching the crucial resistance zone. Meanwhile, technical data shows a diversified action plan, which may differ from the resumption of the rally for a white.
FLOKI price was trading inside a descending triangle and, after maintaining an ascending consolidation, broke above the resistance. Furthermore, the price also underwent a retracement and small correction testing the resistance which turned into support levels and started rising towards the upper resistance zone between $0.000254 and $0.000266.
On the other hand, the RSI is testing the upper threshold and may soon enter the overbought zone. If levels sustain within the range, the price is expected to break out of the current highs and form a new ATH above $0.00035, possibly before the end of the month. Furthermore, the prices of Dogecoin (DOGE) and Bonk (BONK) are also increasing, which indicates that the memecoin season may soon gain momentum.