Memecoins
PEPE & FLOKI lead the rally, while others follow; Has Memecoin Mania started?
The crypto space is consolidating again with gains that led memecoins to flee. Once again, the PEPE Price is leading the rally, with over 25% forming a new ATH above $0.000014 in early trading hours. As ETH price shows more strength, Ethereum-based memecoins are gaining strength as PEPE is poised to enter the top 20 tokens with a market cap of almost $5.8 billion. dollars.
PEPE price is moving as expected after breaking the bull flag trend and is moving in an upward trend. The price has broken above the 1.2 FIB levels at $0.00001312 and is about to test the higher targets at 1.4 FIB at $0.00001455. Now that the market sentiment has turned bullish, the upside is expected to continue and move towards the next target of 1.6 FIB at $0.00001640. Once these levels are reached, the rally could reach new highs at $0.00002.
On the other hand, FLOKI price has passed the decisive phase and is approaching the crucial resistance zone. Meanwhile, technical data shows a diversified action plan, which may delay the resumption of the rally for a White.
FLOKI price was trading in a descending triangle and after maintaining an upward consolidation, it broke above the resistance. Furthermore, the price also underwent a retracement and a small correction testing the resistance which turned towards the support levels and started rising towards the upper resistance zone between $0.000254 and $0.000266.
On the other hand, the RSI is testing the upper threshold and may soon enter the overbought zone. If the levels hold within the range, the price is expected to break out from the current highs and form a new ATH above $0.00035, likely before the end of the month. Additionally, the prices of Dogecoin (DOGE) and Bonk (BONK) are also on the rise, indicating that the memecoin season may soon gain momentum.