Memecoins
With FOMO On The Rise, Is Now the Best Time to Buy Meme Coins?
Bitcoin’s stagnation below the $70,000 level marks market-wide confusion and fuels volatility in some coins. Using volatility for an uptrend, meme coins capitalize on additional momentum to reverse the trend and create new all-time highs.
With over 100% returns in the last 7 days, PEPE is one of the best performers in the game. Other meme coins like FLOKI, BONK and BOME are performing well, DOGE and SHIB are slowly picking up speed.
As major cryptocurrencies halt their progress, attention is quickly shifting more and more to the coin industry. So, will the uptrend continue this week with the bullish wheels in action? More importantly, is it too late to buy these parts?
Let’s take a closer look at their price charts and analyze where the meme coin rally is heading.
PEPE price rally targets $0.000022
With a reversal of the rounded bottom in the daily chart, the meme coin creates a massive bull run, creating a new all-time high. However, as it ends Monday on a positive note of 4.26%, an intraday decline of 4.25% is visible today.
The pullback undermines yesterday’s jump and warns of a wave of corrections in the coming days. According to the Fibonacci retracement levels, the meme coin is well established above the 1.618 level and is ready for a retest.
Since the bulls are making a comeback with a successful retest, PEPE price could reach the $0.000021 mark or the 2.618 Fibonacci level.
Breakout In This Meme Coin Eyes 100% Surge
With PEPE coin leading the meme coin rally, the FLOKI price trend is following the sectoral uptrend. The dog-themed coin showed a 23.03% intraday gain last night with news of FLOKI listing on Coinbase Perpetual on May 30 and a new surprise coming this week.
This forecasts a potential price rise for FLOKI coin with a rounded lower breakout. Moreover, the neckline of the uptrend continues at $0.00030.
Like the trend-based Fibonacci level, the rally may target the $0.00058 level.
BONK Price Eyes Channel Breakout This Week
With an overall uptrend, the meme coin’s recent upcycle within an ascending channel complements a rounded bottom trend. Additionally, the rally on a breakout challenges the overhead resistance trendline, hinting at an extension of the uptrend.
With a 72% rise in the last 14 days, BONK price reflects a strong momentum uptrend. Additionally, last night’s 15% jump, which created an engulfing bullish candle, suggests a strong possibility of a rally in the event of a breakout.
A rally in the meme coin can lead to a price rise up to the Fibonacci level of $1.618 to $0.00008321 this week.
Triangle Breakout in BOME Price Eyes 62% Upside
Amid the sector-wide uptrend, BOME price is slowly but steadily gaining momentum with a triangle breakout. The bullish reversal of the meme coin challenges the $0.014 level or the 61.80% Fibonacci level.
As the bullish trend continues in the market, the BOME price trend could siphon additional momentum for a jump. According to the Fibonacci levels, the meme coin shows a rally potential to reach the $0.023 level.
Is Now the Best Time to Buy Meme Coins?
With the growing anticipation of an uptrend in the broader market, FOMO is slowly increasing the market. Capitalizing on FOMO feelings, meme coins are on an uptrend with impressive performances over the weeks.
Additionally, breakout events and bullish price action make meme coins a lucrative option in crypto.