Memecoins
With FOMO on the rise, is this the best time to buy Meme Coins?
Bitcoin’s stagnation below the $70,000 level signals market-wide confusion and fuels volatility in some coins. By using volatility for an uptrend, meme coins capitalize on additional momentum for trend reversals and create new all-time highs.
With returns above 100% in the last 7 days, PEPE is one of the best traders in the game. Other meme coins such as FLOKI, BONK and BOME are doing well, with DOGE and SHIB slowly accelerating.
As major cryptocurrencies pause their uphill run, attention is rapidly increasing towards the meme coin sector. So, will the uptrend continue this week with the bullish wheels in action? More importantly, is it too late to buy these coins?
Let’s take a closer look at their price charts and analyze where the meme coin rally is headed.
PEPE price rally points to $0.000022
With a rounded bottom reversal on the daily chart, the meme coin creates a massive bull run, creating a new all-time high. However, as Monday ends on a positive note of 4.26%, a 4.25% intraday pullback is visible today.
The pullback undermines yesterday’s jump and warns of a wave of corrections in the coming days. According to the Fibonacci retracement levels, the meme coin is well established above the 1.618 level and is ready for a retest.
Considering the bulls return with a successful retest, PEPE price may rise to the $0.000021 mark or the 2.618 Fibonacci level.
Breakout in this Coin Eyes 100% Surge meme
With PEPE coin leading the meme coin rally, FLOKI price action follows the sector uptrend. The dog-themed coin showed an intraday gain of 23.03% last night with news of FLOKI’s listing on Coinbase perpetuating on May 30 and a surprise piece of news coming this week.
This predicts a potential price jump coming for the FLOKI coin with a rounded bottom breakout. Furthermore, the neckline for the uptrend continuation pattern is at the $0.00030 level.
Like trend-based Fibonacci levels, the breakout rally can target the $0.00058 level.
BONK Price Eyes reveals the channel this week
With an overall uptrend, the meme coin’s recent bull cycle within an ascending channel completes a rounded bottom pattern. Furthermore, the breakout rally challenges the upper resistance trend line, anticipating an extension of the bull run.
With an increase of 72% in the last 14 days, BONK price reflects a high-momentum uptrend. Furthermore, last night’s 15% jump, which created a bullish engulfing candle, suggests a high possibility of a breakout rally.
A breakout rally in the meme coin can result in the price jumping to the 1.618 Fibonacci level at $0.00008321 this week.
Triangle breakout in BOME: prices point to 62% upside.
In the midst of the sector-wide bull run, the BOME price is slowly but steadily gaining momentum with a breakout of the triangle. The bullish reversal of the meme coin is challenging the $0.014 level or the 61.80% Fibonacci level.
Considering the bull run continues in the market, the BOME price trend could absorb further momentum for a jump. According to Fibonacci levels, the meme coin shows potential for a breakout rally to reach the $0.023 level.
Is this the best time to buy meme coins?
With growing anticipation of a bullish trend in the broader market, FOMO is slowly increasing the market. Capitalizing on the feelings of FOMO, meme coins are on a bull run with impressive performances over the weeks.
Furthermore, breakout events and bullish price action make meme coins a profitable option in the cryptocurrency industry.