The Bitcoin price today continues hovering close to the $100,000, resulting in top altcoins regaining momentum. However, the memecoin market, has recorded a strong bearish pullback this week, highlighting increased price volatility in the crypto space.
Considering the present market sentiments, will Meme coin market record a strong comeback and achieve a new ATH this crypto bull run? Dive in as, in this article, we have covered the top 3 meme tokens that have the potential to outperform top tokens.
Dogwifhat (WIF)
The WIF price has lost 5.54% in 24 hours with a trading volume of $499.610 million. Moreover, it has dropped 14.56% in seven days and 20.41% during the last 30 days. With a market cap of $2.91 billion, it has secured the 54th position.
The Moving Average Convergence Divergence (MACD) shows a constant red histogram in the daily time frame with its averages displaying a constant downtrend. This suggests an increase in the selling pressure for the meme coin in the crypto market.
If the bulls regain momentum, the WIF price will breach its resistance level of $3.1725 and head toward its upper resistance level of $4.1950. Conversely, if the bears outrun the bulls, the Dogwifhat price will retest its support level of $2.2440.
Also, read Dogwifhat Price Prediction to uncover the long-term price prospects of this memecoin!
Pepe (PEPE)
Despite recording a correction of 1.16% in 24 hours, the Pepe coin price has jumped 13.23% over the last seven days and 27.31% during the last 30 days. Further, this memecoin has recorded a YTD return of 1,630.26%, making it one of the best-performing memecoins this year.
The Simple Moving Average (SMA) constantly supports the PEPE price chart in the 1D time frame. However, the MACD indicator records a bearish price action, highlighting mixed price sentiment.
Suppose the bulls outrun the bears, in that case, the PEPE memecoin could head toward a new ATH this month. However, if the bears regain momentum, this memecoin could retest its low of $0.00001800.
To find answers to question like, will Pepe reach 1 cent? Read PEPE Price Prediction!
Bonk (BONK)
The Bonk memecoin has experienced a similar price action by losing significant value to its portfolio over the last seven days. Notably, with a 24-hour trading volume of $386.408 million, this memecoin has a market cap of $2.910 billion.
The technical indicators SMA & MACD constantly record a negative price action in the daily time frame. This suggests a bearish outlook for the 04th largest memecoin in the cryptocurrency market.
If the market favors the bulls, the BONK price will retest its upper resistance level of $0.00004704 this month. On the flip side, with a bearish price action, this altcoin could retest its support level of $0.0000270.
Wondering if Bonk price will hit a new high this altcoin season? Read CoinPedia’s Bonk price prediction. Also, subscribe us to stay updated on the latest crypto news!
FAQs
The top memecoins by market cap are Dogecoin, Shiba Inu, Pepe, Bonk, & Dogwifhat.
Considering the present market sentiments, Pepe, Bonk, Wif, & PNUT are currently displaying high price volatility, resulting in them coming under the market limelight.
As per the historic market sentiment, with the beginning of the Altseason, the memecoin market may pick up significant traction.
