Memecoins
Memecoin outperforms AI, WIF, BRETT and BONK token prices while DOGE and SHIB consolidate
At the start of the day, AI tokens led the rally as AGIX and FET prices launched a 20% rally. As the trade progressed, the gains consolidated into a range, paving the way for memecoins to gain the top spot. Currently, dogwifhat (WIF) price is leading the rally, followed by Bonk (BONK) and Brett (BRETT). Additionally, other memecoins are also gaining strength, suggesting that they are outperforming popular tokens in the market.
And after? Will they close the monthly trade on a bullish note?
Dogwifhat (WIF) price is up 30%
what price for my dog faced a 50% pullback after failing to hold at a crucial resistance zone between $3.2 and $3.5. The consistent bearish candle sparked huge fear among market participants, but the sharp bounce at the “last point of defense” induced bullish momentum within the token. Therefore, the price is expected to undertake a V-shaped recovery over the coming days and close the month on a positive note.
After the launch, the price climbed and began to consolidate in a high range zone and a low range zone, which were interrupted. Now that a rebound has begun, the possibility of reaching upper resistance seems imminent, which is validated by the bullish reversal in the RSI. However, the DMI remains neutral at the moment and the levels are heading towards a bullish reversal. Therefore, WIF price is expected to consolidate for some time, followed by a rise beyond $2 very soon.
Brett (BRETT) hits new highs above $2
The price was trading in an ascending wedge since the start of the quarter and increased along the wedge’s lower support. Despite the wedge breakout, price bulls are defending the lower support zone between $0.128 and $0.121, which also collides with the FIB of $0.618 to $0.125. However, technicals have turned bullish and so a 20% rise appears imminent.
As price remains consolidated between the 0.618 and 0.786 FIB levels, the RSI has shown bullish divergence. With this, the price initiated a rebound but with limited buying volume, the price could extend its consolidation within the range. The price has not risen above $1.55 for over a week and hence, until a huge influx of buying volume enters the platform, the trend may remain unchanged.
Bonk (BONK) Price Eyes New ATH
Among all memecoins, Bonk has shown great strength as the trade remains under bullish influence. Although the bears amplified their activity at frequent intervals, the rally maintained an upward trend. Therefore, memecoin is expected to maintain a strong upward trend and eventually mark the upper resistance, once it surpasses some crucial levels.
BONK price began a rebound shortly after falling below $0.00002 and is testing the mid-range of the trend. Volume remains in a mid range, largely dominated by the bulls and the trend is therefore expected to remain inflated. Furthermore, the RSI has rebounded from its lows and the MACD is about to post a bullish cross, suggesting that a 30% upside could happen soon.