As Bitcoin’s price has risen back to $67,000, mid-cap altcoins have shown a strong bullish turnaround. Memecoins have also followed this trend, significantly increasing in value.
In this article, we highlight the top 2 memecoins that could lead the memecoin craze in the upcoming crypto bull run.
WIF Memecoin Price Analysis and Market Outlook
Amid growing bullish sentiment, the WIF memecoin has seen a notable price increase of 6.79% over the past week and 29.49% in the last 30 days. With a year-to-date return of 1,598% and a market cap of $2.591 billion, WIF holds the 33rd position on the global crypto list.
TradingView: WIF/USDT
However, technical indicators present a mixed outlook. The Simple Moving Average (SMA) has shown a bearish crossover on the daily time frame, while the MACD indicator reveals a consistent decline with neutral averages. This suggests weak price action for the memecoin in the current market.
If the market gains momentum, WIF’s price could break through its resistance level and rise towards its upper target of $4. Conversely, if bearish trends continue, the price could fall to its lower support level of $2.
Bonk Memecoin Price Analysis and Market Outlook
Bonk, the second most successful memecoin on the Solana chain, has increased by 22.37% over the past 30 days and surged approximately 110% this year. The memecoin has tested its key support level of $0.0000270, signaling strong bullish sentiment.
TradingView: BONK/USDT
The Relative Strength Index (RSI) has recently retested its mid-point and is nearing a bullish crossover on the daily time frame. This suggests a high likelihood of a bullish reversal in the coming weeks.
If the market maintains the BONK price above its crucial support level of $0.0000270, it may rise towards its upper resistance level of $0.00003390. However, if bearish trends prevail, the price could drop to its lower support level of $0.00002125.
