Memecoins
Top Coins to Watch in July
The ever-evolving meme coin sector has become a very interesting niche for investors and traders in recent months. It is full of assets based on recent trends, many of which have seen substantial price increases in a short period of time.
In the following lines, we will cover some of the most popular ones and assess their chances of further progress throughout the current month.
Shiba Inu (SHIB)
The second-largest meme coin by market cap is quite intriguing because of the sheer number of people who are exposed to it. Data shows that over 1.3 million people are invested in SHIB, with about 51% currently session on paper profits.
The asset made a lot of noise earlier this year, when its price skyrocketed to multi-year highs while its market cap surpassed $20 billion.
The Shiba Inu Relative Strength Index (RSI) has been at relatively low levels over the past few months, indicating that further upside could be on the cards for July. The technical analysis tool ranges from 0 to 100, with a ratio above 70 signaling a possible correction. The last time the RSI was reached, it was observed that the Shiba Inu price was relatively low. crossed This mark was at the end of May.
Dogecoin (DOGE)
The meme market leader has seen a 6% rise on a weekly basis, while there are some important factors that could propel a further rise this month. One of the elements could be the support of prominent figures.
Recall that DOGE is Tesla CEO Elon Musk’s favorite cryptocurrency. The billionaire often praises its merits, and on several occasions, this has been followed by a rise in the token’s price.
Not long ago, the electric vehicle giant officially integrated meme currency as a payment option on its website. As expected, DOGE jumped more than 20% shortly after the announcement.
Dog Hat (WIF)
The largest meme coin built on the Solana ecosystem has been one of the best performers in the market in recent times. Like CryptoPotato reported Earlier today, it surpassed DOGE and SHIB in terms of daily trading volume.
Its success in July depends on approval from well-known industry players, favorable market conditions, Solana’s performance and other factors.
Grandpa (PEPE)
Last but not least, we will focus on the leading frog-themed meme coin – PEPE. It made headlines in late May by reaching a new all-time high, while its market cap briefly exceeds $7 billion. Since then, PEPE has been in decline, with its price decreasing by 25% per month.
Some analysts, however, believe that the asset is poised for a new bullish period. User X Mags considered a new ATH to exploit in the following months, while Elja believes that July will be much more fruitful for PEPE than the previous month.