Top 4 Meme Coins To Watch With Buy Signals
Release: 2024/05/28 21:49 Reading: 914
Top 4 Meme Coins to Watch with Buy Signals
The meme coin market is abuzz with excitement as on-chain data points towards a buy signal for four prominent cryptocurrencies in this segment: Dogecoin (DOGE), Pepe Coin (PEPE), Bonk, and dogwifhat (WIF). According to recent derivatives data by CoinGlass, these coins have emerged among the top ten cryptos by open interest.
This surge in interest underscores a growing trend among investors towards low-cost cryptocurrencies amidst escalating hype.
Four Meme Coins with Buy Signal
CoinGlass recently shared a derivatives chart on the X platform, highlighting the dominance of meme coins in the market. The chart shows that DOGE, PEPE, Bonk, and WIF now hold four of the top ten spots by open interest, signaling a significant shift in investor sentiment towards these unconventional assets.
The meme coin sector, known for its speculative nature, has witnessed substantial gains in recent months, further fueling investor enthusiasm. Additionally, the buzz has been further amplified by the surge in GameStop Corporation (GME) stock, drawing parallels between meme coins and meme stocks.
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Price Amid Risk & Opportunities
While the meme coin market presents lucrative opportunities, it also carries inherent risks. Investors should exercise caution and conduct due diligence before venturing into this volatile sector. Despite the recent gains and positive developments, the meme coin market remains susceptible to extreme price fluctuations and speculative behavior.
As the sector continues to evolve, staying informed and vigilant is crucial for investors navigating the unpredictable world of meme coins.
Price Update
At the time of writing, the price of DOGE has fallen 3.07% to $0.1646, while PEPE Coin has plunged 4.8% to $0.00001599.
On the other hand, BONK's price has surged nearly 12% to $0.00004216, with its trading volume soaring 65% to $1.12 billion. Simultaneously, the WIF price has also noted a surge of 14% to $3.72.
According to CoinGlass data, the DOGE Open Interest (OI) fell 4.5% to $1.01 billion, while the 1000PEPE Coin OI slipped 5.4% to $773.59 million. Conversely, the 1000BONK OI rose 16.66% to $527.18 million, while the WIF OI advanced 21.26% to $511.64 million.
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