Memecoins
Pepe Coin missed, here are 3 Ethereum Meme coins to buy in June
The cryptocurrency market saw another rally following Bitcoin’s reversal of $56,000 in May. While the majority of major altcoins have seen a notable uptrend, the Memecoin sector has recovered with higher momentum as it attracts speculative traders who are able to navigate rapid market changes and capitalize on quick profit opportunities. Additionally, with the recent approval of ETH Spot ETF by the American SEC, Ethereum Meme Coins were among the biggest winners of the recent rally. If you missed Pepe coin’s rally to its new all-time high, the top Meme coins to buy are Shiba Inu (SHIB), Memecoin (MEME), and Floki to capture similar trends.
Read also: Crypto Market Prediction: MVRV Ratio Hints Bitcoin Bull Run Has Room to Grow
1) Shiba Inu (SHIB)
Shiba InuSHIB) is a meme-based cryptocurrency that started as a playful homage to Dogecoin. Key fundamental factors for SHIB include its significant social media presence, strategic token burns to reduce supply, and continued development of its ecosystem.
In the daily chart, the SHIB Price is recovering steadily under the influence of the ascending trend line. Dynamic support took the asset from its April 13 low of $0.0000183 to $0.000026, registering 45% growth.
At press time, the Shiba Inu price had a market capitalization of $14.7 billion, while the 24-hour trading volume had fallen to $250 million.
If the previously mentioned support is intact, buyers could breach the high resistance at $0.00003. This breakout could provide further confirmation of market sentiment moving from selling on a rally to buying on a decline.
The post-breakout rally could push the asset to $0.000038, followed by $0.000054.
Read also: Shiba Inu’s Shibarium Achieves Major Feat and Reduces Ethereum Bridge Time
2) Floki
Floki is a meme-inspired cryptocurrency that has evolved significantly from its origins as a playful homage to Elon Musk’s Shiba Inu dog. The core of Floki’s ecosystem includes Valhalla, an NFT gaming metaverse that allows players to earn rewards through engaging activities such as battles and asset trading.
In the current context of market consolidation, the Floki Price saw weakening bullish momentum, leading to a reversal to $0.000313. This bearish reversal caused the meme coin to plunge 16% to trade at $0.0000259, while the market cap plunged to $2.44 billion.
If supply is under pressure, the coin’s price could fall another 20% to seek support on the ascending trendline. This dynamic support has been on an upward trajectory for almost three months and can reclaim FLOKI’s exhausted bullish momentum.
A potential rebound from this bottom could push the asset beyond the $0.0000313 ceiling.
Read also: Coinbase adds Shiba Inu, FLOKI, BONK in full trading mode, prices to recover?
3) MAGA (Trump)
MAGA coin, also known as TRUMP, is a meme cryptocurrency inspired by the slogan “Make America Great Again” associated with former US President Donald Trump. The coin aims to merge political finance (PoliFi) with traditional cryptocurrency principles, targeting Trump supporters and conservative causes.
Trump coin entered an aggressive rally from the second week of May as the price rebounded from the $4.12 support. The reversal propelled the asset 256% from current trading at $14.7, while the market cap stood at $637.4 million.
Amid this rally, buyers recently decisively broke through the angular resistance trendline and horizontal barrier at $10.5. Maintaining this breakout should provide buyers with suitable support to lead a rally higher and target a potential to $22, followed by $25.
Read also: Discussions about Donald Trump’s prison disrupt markets; Bitcoin price down 3%
Key to remember
The current market rally is particularly robust in the Meme coin sector, attracting speculative traders hungry for quick profits. Shiba Inu (SHIB), Floki, and MAGA (TRUMP) are notable Ethereum-based Meme coins demonstrating significant potential to drive an extended rally through 2024. These coins stand out for their strong community support, innovative projects, and recent impressive performance on the market.
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Sahil is a dedicated full-time trader with over three years of experience in the financial markets. Armed with a solid command of technical analysis, he keeps a vigilant eye on the daily price movements of major assets and indices. Drawn by his fascination with financial instruments, Sahil enthusiastically embraced the emerging field of cryptocurrencies, where he continues to explore opportunities driven by his passion for trading.
The content presented may include the personal opinion of the author and is subject to market conditions. Do your market research before investing in cryptocurrencies. The author or publication assumes no responsibility for your personal financial loss.