The memecoin category has started this week on a bearish note, indicating an increase in the selling pressure. Moreover, top meme coins have displayed a negative trend for the second consecutive day. This highlights a high possibility of a bearish action this week.
Dive in as, in this article, we have uncovered the price mysteries and short-lived targets of Pepe (PEPE) and Floki (FLOKI) meme coins for September.
Pepe Coin Price Records a Bearish Reversal:
The Pepecoin price has recorded a plunge of 9.69% in the past day, with a trading volume of $628.63 million. Furthermore, it has lost 30.89% during the past month, despite adding approximately 3% over the past week. With a market cap of $3.472 billion, the Pepe token is the 3rd most veiled memecoin.
The technical indicator MACD has recorded a sharp plunge in the green histogram, with its averages displaying a similar trend. Further, the SMA is on the verge of experiencing a negative crossover. This highlights the bearish influence of this meme coin in the crypto market.
Maintaining the price above its important resistance level will set the stage for the Pepe price to head toward its upper resistance level of $0.00001150. On the flip side, if the bears continue to dominate the bulls, this memecoin will retest its low of $0.00000625.
Floki Memecoin On The Verge Of Testing Its Important Resistance Level
The Floki price has continued to display a mixed sentiment, dropping approximately 1% in the past day and 13.97% over the past month. Notably, the price has increased by approximately 20% during the past week. This highlights a potential bullish bounceback in a shorter time frame.
The EMA 50/200-day shows a constant flatline below the price chart in the 1D time frame. However, the Relative Strength Index (RSI) shows an uptrend toward the overbought range. This suggests a mixed price sentiment for the Floki price.
If the market pushes this meme coin above its $0.000155 level, the bulls will regain momentum and prepare to test its upper resistance level of $0.00021435 during the upcoming weeks. Conversely, a bearish action could result in it plunging toward its low of $0.00010190.
