The memecoins have been largely volatile in the past few days as the price levels have been varying by a large margin. While the popular ones like Dogecoin & Shiba Inu are consolidating within a narrow range, other tokens like PEPE, BONK, & FLOKI also appear to follow suit. However, a couple of them, like BOME & WIF, have been displaying immense strength and as a result, Memecoin mania may soon begin before the end of 2024.
BOOK OF MEME (BOME) Price Analysis
The BOME price has been plunging steadily for some months now and after shedding massive gains, the token is consolidating at the bottom. The September trade did not squeeze the profits to a large extent, which has helped the bulls to initiate a small recovery. Meanwhile, the current trade setup and the fractals suggest the bulls are poised to trigger a rise above the bearish influence and reach $0.01 at the earliest.
The BOME price has been stuck under a strong bearish influence as it continues to trade below the descending trend line. The RSI remains incremental, forming constant higher highs and lows while the MACD displays a drop in the buying pressure. This suggests the price may continue to remain within a horizontal consolidation under $0.008 until the market dynamics change which may propel the price back above $0.01.
dogwifhat (WIF) Price Analysis
The dogwifhat price has just broken out from a descending pattern and a validation above the gains may change the price trajectory of the token. The price began the weekly trade on a bullish note and withstood the bearish pressures that hindered the rally. Although the volume remains restricted within a range, the possibility of reviving a fine upswing remains higher.
The WIF prices have remained stuck within a bearish descending parallel channel, while the latest rise has enabled the token to breach beyond the resistance. The OBV is incremental and the +Di & -Di divert from each other before undergoing a bearish crossover. Therefore, the bullish momentum has piled up, which suggests the price is set to rise and reclaim the levels above $2 anytime from now.
