Memecoins
The 3 best meme coins to buy with more buzz than Bitcoin this weekend
Meme Coins to Buy: This week, the cryptocurrency market witnessed a notable slowdown which triggered the Bitcoin struggles to sustain more than $70,000. With most major altcoins experiencing renewed general supply, market sentiment suggests a prolonged consolidation.
In a recent tweet, popular trader Alicharts highlighted the significant downturn in the meme coin sector. According to the analysis, meme coins suffered the largest losses during the latest market correction. In particular, major assets such as DOGE, SHIB and PEPE recorded price drops of 8.43%, 6.71% and 11.35% respectively.
The treemap provided by the charts reveals a wide spectrum of negative price changes among meme coins, marking them as one of the most affected assets. However, amid the widespread recession, one meme coin has managed to defy the trend. $TRUMP emerged as a surprising outlier, posting a positive price change of 2.54%.
Read also: “Inflation is a hidden tax on your money” Bitcoin exchange hits out at Fiat in new announcement
1) Meme coins to buy – Dogecoin (DOGE)
Dogecoin (DOGE) is a popular cryptocurrency created as a joke based on the “Doge” meme featuring a Shiba Inu dog. Over the past ten weeks, DOGE price has witnessed a steady correction trend led by a descending trend line on the daily chart.
Dogecoin (DOGE)| Tradingview
The steep resistance caused this memecoin to plummet from $0.228 to $0.1449, recording a loss of 36%. Dogemoneta It currently holds a market capitalization of $21.08 billion, while its 24-hour trading volume is $799.
If supply pressure persists, DOGE may fall to the monthly support of $0.122 coinciding with the 61.8% Fibonacci support. For buyers to regain control over this asset, a breakout above the upper resistance is necessary.
If successful, the DOGE Price forecast suggests a rally to challenge the $0.228 high.
2) Pepe Coin (PEPE)
Pepper Coin (PEPPER) is a meme-based cryptocurrency inspired by the popular Internet meme character Pepe the Frog. Amid the recent market correction, PEPE price hit a new high at $0.00001725 and fell 28% to $0.0000123.
Pepe Coin (PEPE)| Tradingview
According to data from Coinmarketcap, Pepe coin shows a market capitalization of $5.2 billion, while trading volume dropped by 34% to $1.31 billion. The coins’ falling price recently breached a supportive trend line that has supported the rally over the past two months. If the fault is prolonged, the Price PEPPER it could plummet to the $0.000006 mark.
However, a whale recently purchased 231.6 billion Pepe Coin (PEPE) tokens worth $2.9 million from Kraken. This brings the whale’s total holdings to 750.34 billion PEPE, worth $8.34 million, acquired at an average price of $0.00001111 since March 16.
The accumulation on the decline indicates that whales are positive for Pepe Coin’s future growth.
Read also: Pepe Price Prediction: On the Verge of a 35% Share to $0.00002
3) MAGA (TUMPET)
MAGA (TRUMP) is a meme-based cryptocurrency launched in August 2023, inspired by the slogan “Make America Great Again”. This token aims to merge political sentiment with blockchain technology, creating a unique niche in the cryptocurrency market.
MAGA (TUMPET)| Tradingview
The TRUMP coin has been on a steady rally since April, highlighted by the series of higher low formations on the daily chart. The recovery trend pushed memecoin from $3.54 to $17.75 recording a growth of 400%.
During a recent fundraiser in San Francisco, Donald Trump he has positioned himself as a staunch supporter of cryptocurrency, openly opposing Democrats’ regulatory efforts. Trump has promised that, if re-elected, he will suspend these regulatory measures within the first hour of his administration, saying he will be the “crypto president.”
Therefore, market participants are positive towards the movement of MAGA coins, suggesting a sustained rally to $20.5, followed by $25.5.
Read also: El Salvador’s pro-Bitcoin president predicts Donald Trump’s victory in the 2024 US elections
Key takeaway
The cryptocurrency market saw low volatility from April to May following the consolidation of Bitcoin prices. However, despite the slow price movement, MEME sectors offer dynamic movements due to their volatile nature, susceptible to market sentiment and speculative trading.
Related articles