Memecoins
Memecoins Surge based on Solana! Will WIF and BOME Price dominate the MEME rally?
With the re-emergence of memecoins in the cryptocurrency sector, major tokens have seen a strong price rise adding significant valuation to their respective portfolios.
Additionally, the Solana Memecoins in the ecosystem regained momentum, allowing them to record a bullish reversal. Additionally, top SOL memecoins such as dogwifhat (WIF) and BOOK OF MEME (BOME) have surged over 50% and 66% this month, highlighting a positive outlook for times to come.
In this article, we have covered the market sentiments and price targets for WIF and BOME memecoins for the month of June.
Dogwifhat Price is about to retest its ATH:
After showing weak price developments for about a month, the what price for my dog has managed to regain its momentum and is on the verge of reclaiming the $4 mark. The WIF crypto added 19.61% over the past day with a 30.91% jump in its trading volume.
Moreover, it surged 39.05% in the last seven days and 47.41% in the last 30 days. With a trading price of $3.9605, the dogwifhat crypto is trading at a discount of just 19% from its previous ATH of $4.85.
TradingView: WIF/USDT
Positively, the WIF Coin Prices formed a symmetrical triangular pattern in the 1D period. Additionally, memecoin is about to test its resistance trendline, the outcome of which is unpredictable.
Additionally, the SMA is registering a bullish curve in the price action, highlighting an increase in buying pressure in the crypto space. On the other hand, the MACD displays a rising green histogram with its averages showing a steady uptrend, suggesting that the WIF memecoin price will continue to gain value in the times to come.
If the bulls register a breakout of the triangle pattern resistance trendline, dogwifhat price will prepare to test its previous all-time high (ATH) of $4.85. However, a bearish reversal could pull the price towards its support trendline in the coming times.
The BOME price shows a brilliant rally!
With the hype resurfacing around Solana-based memecoins, the crypto meme book continues to record a steady uptrend adding around 16% over the past day. Additionally, the price of BOME coins jumped 64.83% this month.
This allowed the memecoin to reclaim the market cap of $1 billion and is currently valued at $1.079 billion with a circulating supply of 68,966,327,627 BOME tokens.
TradingView: BOME/USDT
Additionally, BOME price managed to cross the resistance trendline of the channel pattern, which allowed this memecoin to register a strong rise in the price chart.
The Relative Strength Index (RSI) continues to trade above the overbought range during the 4-hour time frame, with its average showing a steady uptrend. This highlights an increase in buy-on-sell pressure for the BOOK OF MEME token in the crypto space.
If the market continues to gain momentum, the bulls will reach its paper resistance level of $0.01850 in the coming weeks. Conversely, if the bears dominate the bulls, the price will experience a pullback within the channel pattern.