Top Memecoins To Buy During The Ongoing Meme Market Correction!
Release: 2024/12/14 01:39 Reading: 508
The Bitcoin price today continues hovering near $100,000, leading to a resurgence in top altcoins. However, the memecoin market has experienced a notable bearish pullback this week, signaling increased volatility in the crypto space.
Considering the current market conditions, can the memecoin market stage a strong comeback and attain new all-time highs during this crypto bull run? Let's explore the top 3 meme tokens with the potential to outperform their competitors.
Dogwifhat (WIF):
WIF has declined by 5.54% in 24 hours, with a trading volume of $499.610 million. It has depreciated by 14.56% over the past seven days and 20.41% in the last 30 days. Holding the 54th position, it boasts a market cap of $2.91 billion.
In the daily time frame, the Moving Average Convergence Divergence (MACD) reveals a consistent red histogram with its averages showing a continuous downtrend. This indicates a rise in selling pressure for this meme coin.
If bulls gain momentum, WIF will surpass its resistance level of $3.1725 and strive towards its upper resistance level of $4.1950. Conversely, if bears prevail, it will reassess its support level of $2.2440.
Pepe (PEPE):
Despite a 1.16% drop in the last 24 hours, Pepe coin has gained 13.23% over the past seven days and 27.31% in the last 30 days. Additionally, this memecoin has recorded a YTD return of 1,630.26%, making it one of the top performers this year.
The Simple Moving Average (SMA) provides constant support for the PEPE price chart in the 1D time frame. However, the MACD indicator suggests a bearish situation, highlighting mixed sentiment.
Should bulls triumph, the PEPE memecoin could soar to a new ATH this month. However, if bears regain control, it could revisit its low of $0.00001800.
Bonk (BONK):
Bonk has undergone a similar price movement, losing significant value in its portfolio over the past seven days. Notably, with a 24-hour trading volume of $386.408 million, this memecoin commands a market cap of $2.910 billion.
Both SMA and MACD technical indicators consistently depict a bearish outlook in the daily time frame. This suggests a pessimistic forecast for the fourth-largest memecoin in the cryptocurrency market.
If the market favors the bulls, BONK will aim to reach its upper resistance level of $0.00004704 this month. Alternatively, bearish conditions could lead it to re-examine its support level of $0.0000270.
FAQs:
- What are the top 5 meme coins?
The top memecoins by market cap are Dogecoin, Shiba Inu, Pepe, Bonk, and Dogwifhat.
- Which memecoins are worth monitoring?
Considering current market conditions, Pepe, Bonk, Wif, and PNUT are displaying high price volatility, drawing attention to them in the market.
- When can we expect a memecoin rally?
Historically, with the commencement of Altseason, the memecoin market tends to gain momentum.
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