Memecoins
Meme Coins DOG, FLOKI, WIF Trigger Bull Run Ahead
As Bitcoin momentarily surpasses $70,000, improving overall market sentiment pushes altcoins to surge overnight. Amid the market rally, meme coins are the torchbearers of the bull run.
As DOG, FLOKI, and WIF top the performance rankings, the upward trend is gaining momentum in these community-driven low-cap coins. Will the bull run in these coins continue this month for a massive jump? Let’s look at the price chart and technical analysis of DOG, FLOKI and WIF to find out more.
DOG Eyes milestone of $0.010 this week
With a reversal of the bottom rounding in the daily chart, the DOG price trend has exhibited a massive jump over the past few weeks. The bullish trend of the same coin explains a price increase of 341% over the last three weeks.
As the market cap approaches $1 billion, the meme coin is heading towards the psychological milestone of $0.010. According to the trend-based Fibonacci retracement levels, the DOG price uptrend is ready to challenge the 1.618 level.
A bullish rally above the $0.010 mark can reach the $0.015 mark for a 50% price rise.
Meme Coin Rally Boosts FLOKI Uptrend
As the meme coin rally continues, the FLOKI price trend maintains the bottom rounding trend in the daily chart. The bullish continuation pattern shows a neckline at $0.00030.
Currently, the meme coin is showing a 10% jump overnight to reestablish the bullish tone. This reassures that the upward trend will continue and reinforces the possibility of a rally in the event of a breakout.
Like the trend-based Fibonacci level, a bullish conclusion of the continuation trend can target the $0.00042 level.
WIF Bulls Struggle Near 50% Fibonacci
Following the bearish reversal of the $4 mark, WIF price is near the $3.35 mark. Nonetheless, with a strong support trendline, the meme coin exhibits a moving uptrend.
With a surge in volatility overnight, the long-term Doji candle signals a bullish return. A bullish close above the 50% Fibonacci level at $3.35 will revive the uptrend for higher prices this week.
A resurgence in demand for the meme coin will increase the price of WIF to $6.49.
Will Meme Coins continue the Bull Run this week?
With the possibility of a broader market rally as Bitcoin aims to reclaim $70,000, meme coins could rise this week. However, cautious traders can wait for confirmation of price action with a bullish close today.