Memecoins
Meme Coins Worthy of Your Watchlist for a 2x Rally
With a quiet midweek for Bitcoin and major altcoins, meme coins are rising in rank with growing demand and fear of missing out. Besides trending picks like PEPE, WIF, and others, here are some alternatives with equally interesting upside potential.
So, let’s take a closer look at the price chart of these meme coins.
Meme Coins to Buy: BRETT (BRETT)
With a market value of $1.2 billion, PEPE’s close friend has quickly made a name for himself in the meme coin segment. Ranking 63rd in the top 100 cryptocurrencies by market cap, BRETT’s price is trading at $0.1289 and is experiencing an intraday decline of 2.78%.
On the daily chart, the BRETT token is showing an ongoing pullback phase, leading to an overhead resistance trendline. Moreover, according to the trend-based Fibonacci levels, the BRETT price is struggling to move above the 23.60% level.
As the market recovery gathers pace, the meme coin could signal a continuation of the uptrend with the breakout of the trendline. The Fibonacci level hints at a potential price rally to $0.26 or $0.36.
FLOKI (FLOKI)
Having delivered top-notch performance in early 2024 and shown resilience in June, FLOKI has a huge underlying demand. With a market cap of $1.72 billion, the meme coin ranks 52nd in the top 100 cryptocurrencies list and is trading at $0.0001781.
In the daily chart, the FLOKI Prize The price is struggling to break above the crucial resistance level at $0.00019, which coincides with the 23.60% trend-based Fibonacci level. Moreover, the underlying increase in demand suggests an inverse head and shoulders pattern with the neckline at $0.00019.
With the recent surge and increasing demand for meme coins, FLOKI price is hinting at an upcoming breakout rally. According to the Fibonacci levels, the uptrend could reach the $0.00033 high before rallying to $0.00055.
Shiba Inu (SHIB)
Despite a falling channel in the daily chart, the second largest meme coin, Shiba Inuhas a market capitalization of $10.3 billion. The correction phase represents a 50% decline from $0.000035 to the current price of $0.00001752.
With the current bullish cycle within the channel failing to break above the 23.60% Fibonacci level, the meme currency is seeing a further decline. However, the general market reversal and increasing FOMO could fuel the trend. SHIB Price to get past the canal.
A breakout rally could reach the $0.000035 high before launching towards the $1.618 level at $0.000057.
Also see: Bitcoin Price Prediction: Here’s the BTC Price Roadmap for the Next 48 Hours!