With a bearish week for the majority of the crypto market, the meme coins are back at their crucial support levels. This increases the attention of long-term HODLers and reversal traders towards certain community-driven cryptos like Dogecoin, Shiba Inu, Pepe, and a lot more.
With a proven volatile history of quick and sharp moves, the coins are ready to perform this week.
So, are you prepared to dive into the volatile parts of the meme coins sector? Here are the top 5 meme coins you should consider buying next week.
As the biggest meme coin with the higher market cap and trading volume, DOGE unquestionably makes at the top of our list. Whilst a downtrend is clear as the sky in the daily chart, the constant support from the 200-day EMA makes it a lucrative investment option in the crypto market.
Further, the declining trend in the trading volume during the pullback phase, making an expanding channel, teases a bullish reversal. Currently, the buyers are anticipating a double-bottom pattern formation at the 200-day EMA.
In case the buyers manage to lift their spirits to break the overhead trendline, the DOGE price can reach the $0.0916 mark, a 16% jump.
As one of the top-rated dog-themed meme coins out there, Shiba Inu is the choice of investment for every newcomer and pro-trader in the market. Known for its quick price action, the SHIB price is forming a wedge pattern in the daily chart.
Similar to Dogecoin, a potential double bottom pattern is visible in the SHIB price at the 200-day EMA. Moreover, the lower price rejection candles are teasing a high momentum reversal fueled by active buying at lower levels.
Hence, a potential bullish reversal can result in a 25% jump to the $0.00001195 next week.
Breaking the barriers of dog-themed coins in the meme crypto world, PEPE comes as a frog-themed coin and started making waves. However, following the boom of the early days, similar to the fate of every other meme coin, it takes a plunge to enter a lateral shift.
In the daily chart, the PEPE price action shows a falling channel testing the crucial support zone at $0.0000010. Further, the bullish reversal possibility arises as the long-tail candles are teasing a bull cycle within the channel.
Optimistically, the reversal rally can lead to a bullish break and test the overhead resistance at $0.000000151.
As the top-rated meme coin on the Solana blockchain, BONK is continuing to make waves and gain popularity. With a high possibility of a bull run in 2024, the BONK price is starting a potential higher low formation and teases an uptrend.
In sync with the overall meme coin sector recovery next week, the BONK price may shock the market with a spike. Optimistically, the reversal trend can reach the $0.000018.
Myro, a crypto named after Solana’s founder Raj Gokal’s dog, is on a bullish trend. With a 980% jump in just 20 days, the exponential growth in the daily chart makes multiple bullish candles.
Meanwhile, in the 4H chart, the volatile price action gives some space for price action analysis. The trend-based Fibonacci retracement shows a bullish trend projection to the $0.35 mark if the buyers manage to break past $0.26.