In a bearish week for most cryptocurrencies, meme coins are at crucial support levels, drawing attention from long-term HODLers and reversal traders. Notably, community-driven cryptos such as Dogecoin, Shiba Inu, Pepe, and more are gaining traction.
Ready for the unpredictable world of meme coins? With a track record of sudden and rapid changes, these coins are gearing up for action this week. Check out the top 5 meme coins to consider buying in the upcoming week.
Top Meme Coins to Watch Next Week
Dogecoin (DOGE)
As the largest meme coin with a substantial market cap and trading volume, DOGE remains a top choice. Despite a clear downtrend in the daily chart, consistent support from the 200-day EMA makes it an attractive investment. The declining trend in trading volume hints at a potential bullish reversal, with buyers eyeing a double-bottom pattern at the 200-day EMA. If buyers break the overhead trendline, DOGE’s price could jump by 16% to reach $0.0916.
Shiba Inu (SHIB)
Among the popular dog-themed meme coins, Shiba Inu is favored by both newcomers and experienced traders. Displaying quick price action, SHIB forms a wedge pattern in the daily chart, mirroring DOGE’s double-bottom pattern at the 200-day EMA. The lower price rejection candles suggest a high-momentum reversal, potentially leading to a 25% jump to $0.00001195 next week.
PEPE
Differing from dog-themed coins, PEPE introduces a frog-themed approach to the meme crypto world. After the initial boom, PEPE experiences a downturn and enters a lateral shift. The daily chart reveals a falling channel testing crucial support at $0.0000010. Bullish reversal signals emerge as long-tail candles tease a potential bull cycle within the channel. An optimistic scenario could see a bullish break testing overhead resistance at $0.000000151.
BONK
Ranked as the top meme coin on the Solana blockchain, BONK continues to gain popularity. Amid the potential for a 2024 bull run, BONK initiates a potential higher low formation, suggesting an uptrend. If the overall meme coin sector recovers next week, BONK might surprise the market with a spike, optimistically reaching $0.000018.
MYRO
Named after Solana’s founder Raj Gokal’s dog, Myro exhibits a bullish trend with a remarkable 980% jump in just 20 days. The daily chart displays exponential growth with multiple bullish candles. In the 4-hour chart, a trend-based Fibonacci retracement indicates a bullish trend projection reaching the $0.35 mark if buyers break past $0.26.
Important:Ā Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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