Memecoins
Will PEPE, BONK and FLOKI Meme Coins Increase 2x in May?
Bitcoin’s price decline reverses from $56,000 for a 1.45% jump last night and maintains momentum for a 1.14% intraday jump at press time. With this recovery, meme coins are amplifying the bullish sentiment with an industry-wide recovery.
While the main coins in this sector, DOGE and SHIB, find a place to pivot, the trendiest ones shine brighter. With PEPE, BONK and FLOKI leading the bull run, is the meme coin sector the next multi-bagger mine?
Let’s look at the price analysis of the best meme coins for a more decisive analysis.
PEPE The Meme Coin ready for an escape
With a boom in meme coins, PEPE price projects a crucial entry point in the 4H chart. As the post-retest rally of a falling channel gains momentum, the meme signals a possibility of a reverse head and shoulders breakout.
Rising against bearish opposition at the $0.0000080 supply zone, PEPE price is seeing a significant increase in momentum. With an intraday rise of 5.59% followed by 7% last night, the meme coin marks the third consecutive bullish candle.
According to the Fibonacci retracement levels, the rally could surpass the psychological $0.000010 mark to reach the $0.000014 mark. Therefore, if the market as a whole maintains a recovery trajectory, PEPE is expected to experience a 2x increase in May.
FLOKI Channel Breakout Could Surpass $0.00030
With a strong resistance trendline in play, the FLOKI price chart exhibits bearish dominance. However, a bullish revolt with a breakout of the bearish channel in the short term portends a high probability of continuation of the uptrend.
With the daily RSI line reflecting an increase in bullish momentum, secondary traders are anticipating an entry opportunity. Moreover, with an intraday growth of 2.19%, FLOKI aims to reverse the downtrend of the 50 and 200 EMA on the 4H chart.
Depending on the Fibonacci levels, the rally could send the meme coin higher and challenge the $0.00030 high. Thus increasing the chances of a multiplication by 2 in May.
Bonk continues its gradual uptrend
With promising price action, BONK price maintains bullish reversal momentum and signals a potential bull run this month. The meme shows a bull flag breakout in the 4H chart after the wedge breakout.
With the rally gaining momentum and a 10% jump overnight, the meme coin is challenging the 50% Fibonacci retracement level. On a positive note, the golden crossover in the 4H chart increases the possibility of an uptrend.
Depending on the Fibonacci levels, the uptrend could reach the $0.00005877 mark or the 1.618 FIbonacci level.
Conclusion for Meme Coins
With just 24 hours of recovery in Bitcoin, the meme coin has managed to rebound significantly. Given that the uptrend continues and Bitcoin resurfaces above $60,000, these coins could surge almost 2x this month.