In the last few days, BTC has fallen sharply, raising concerns globally. In the last 24 hours, it slipped below $58000, turning the major market under a red blanket. Meanwhile, top meme coins like POPCAT had their swings in the market.
Most altcoins tend to move closely with market leaders. Among the altcoins, the meme coin category particularly has taken a beating. Top competitors in the sector have landed at their crucial support levels and could be worth monitoring. The top meme coins include POPCAT, BRETT, &FLOKI.
Further, the top meme coins have dropped from 52-week highs over the past year. A further look at them could help many identify the next move ahead.
Meme Coin Mania Continues: POPCAT (POPCAT) on Top
Unlike other meme coins, the POPCAT price has shown a bullish angle, where a crucial support trendline was at play.
With an expanding channel upwards in the daily chart, the POPCAT memecoin is on a higher high spree.
Recently, the memecoin has been testing the support trendline around $0.05238. The intraday gain of 6.50% highlights a possibility of a strong bounce back from the support trendline. The POPCAT was at $0.5706 at the time of writing.
Therefore, in case of a significant rise, the near-time targets buyers could seek would be present at $0.6500 and $0.8000, respectively.
However, in case of increased bearish pressure, the sellers could eye the support levels of $0.4050 near the lower border and, once taken down, $0.2545.
BRETT (BRETT)
The BRETT meme coin is based on the blockchain of ‘BASE”. It reveals that in early May, 2024, a rise of 550% was witnessed, reaching $0.19650 by June 9th, 2024. This monthly high failed to cross past the supply block and deflected the lower low.
This price fall led to the lower low spree; by the August start, it fell majorly beneath the 20-day and 50-day EMA bands.
On August 5th, the BRETT tried to in the liquidity grab formation candle; significant buying was witnessed. However, the failure to cross $0.10694 has demonstrated that brearish pressure is high.
As of writing, BRETT is trading near $0.07411, with a 2.50% intraday growth. With more increased bearish pressure, the price could hit the nearest support of $0.05653. Beyond this, if the fall extends, then a major demand area near $0.03025 would be the support bears could eye at.
Therefore, the mentioned supports could be a point where a resurgence could be displayed ahead of this month.
Floki (FLOKI)
The Floki token, in its first quarter, peaked at $0.0003011. It declined and formed support at the $0.0001113 demand zone by mid-April 2024. FLOKI blasted off from the same demand zone again and built a new all-time high (ATH) of $0.00034873 by June 5th, 2024.
However, the profit takers began sell-offs. FLOKI dipped back to the previous demand zone by August. By this time, the zone proved its resilience and sturdiness with effective multiple bounces.
By the start week of August, precisely on August 5th, it displayed a liquidity grab candle and rose higher. However, it failed to manifest commensurate gains, it displayed previously on the daily chart.
By the end of the month, the price failed to clear a barricade of $0.0001585 and fell, like rest of the market.
At press time, the price was back at the same spot it previously had records. Based on the highest probability, investors could get an opportunity over certain bullish price developments at this zone this month.
Therefore, if the price keeps on surging, the next resistance levels are at $0.0001585 and $0.0002201. However, failing to do so would lead to a price decrease that could take FLOKI beneath the demand zone.
