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: 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.
Join Cryptos Headlines Community
Follow Cryptos Headlines on Google News
