Memecoins
Memecoin Analysis: Pepe, Bonk and GME Price Predictions for This Week
June kicked off an impressive rally for meme coins, with several popular coins seeing significant buyer interest, leading to massive price increases. One notable event was the return of Keith Gill, better known as “Roaring Kitty,” which sparked a surge in GME memecoin prices. Additionally, last week the prices of Pepe and Bonk coins fluctuated significantly, pointing to further potential increases in the coming week.
Memecoins attract attention amid volatility
Last week, the GME memecoin, running on the Solana blockchain, experienced an unexpected surge. This increase triggered a bullish outlook for Pepe and Bonk prices, prompting analysts to revise their forecasts for the meme coin market in the coming week.
Pepe Price Analysis
Pepe price has seen intense volatility over the past few days, with the price facing strong rejection around the $0.000015 resistance mark. This pushed the price towards the low of $0.0000116. However, buyers have defended this level and the price is currently hovering around $0.00001235, down more than 10% in the last 24 hours.
The buyers aim to maintain momentum and push the price above the descending resistance line. Although the $0.000016 threshold may pose a challenge, it should be breached. Following this, the PEPE/USDT pair could aim for a rally towards the strong resistance at $0.0000173.
Conversely, if the bears aim to stop this upward movement, they must quickly bring the price back below the 50-day SMA at $0.0000112. If this succeeds, the pair could fall to $0.00000889 and further down to the crucial support level at $0.00000772.
Bonk price analysis
XRP remains close to its moving averages, suggesting minimal aggressive activity from traders. Bonk strongly rejected the $0.000033 level and fell below the immediate Fib channels, leading to consolidation around $0.000028. At the time of writing, Bonk price is trading at $0.0000284, up more than 3% in the last 24 hours.
Declining moving averages and a mid-level RSI suggest continued potentially bearish price movements. A breakout and close above the current consolidation could signal a bullish resurgence, potentially pushing the BONK/USDT pair towards the $0.0000369 resistance level. Further buying pressure could push the price towards $0.000048.
Conversely, a break below the $0.000024 support line could invalidate the uptrend, potentially dragging the pair towards the $0.000017 support level.
GME Price Analysis
GME price saw a remarkable recovery from a low of $0.013 to $0.018. However, bears continue to argue for a push above resistance lines, slowing buying momentum. At the time of writing, GME price is trading at $0.017, up more than 10% in the last 24 hours.
The 20-day exponential moving average (EMA) shows a slight increase to $0.016, and the relative strength index (RSI) is hovering above the midline, indicating dominant buying pressure. If the price manages to rebound from its current position, it could climb up to the $0.032 mark and possibly reach a new all-time high.
However, if the bears plunge the price below the $0.012 support, the GME/USDT pair could return to its crucial $0.008 support to test the strength of the buyers.