With the price of Bitcoin reclaiming the $61,000 level, the crypto market has recorded a strong bullish recovery over the past day. Moreover, the Memecoin category has added $2.17 Billion in market cap. This contributes to 3.38% of the total inflow of the past day.
Planning on investing in memecoins, but concerned about its future prospects due to its volatile nature?
In this article, we have uncovered the market sentiments, price analysis, and potential short-lived price targets for the top 4 meme coins that have the potential to dominate the upcoming crypto bull rally.
Brett (Based) (BRETT) Price Action
After trading under a bearish sentiment for the past month, the Brett price has recorded a jump of over 20% within the past 24 hours. Moreover, with a 24-hour trading volume of $94.037 Million and a market cap of $895.59 Million, this meme coin has secured the 69th position in the global crypto list.
The technical indicator, MACD has displayed a constant flatline in its 1D time frame. However, the averages have recorded a bullish convergence in the BRETT price chart, suggesting a mixed sentiment for the meme coin in the market.
If the market holds the Brett memecoin price above its support level, the bulls will prepare to test its resistance level of $0.12285. Conversely, if the bears overpower the bulls, this coin will plunge toward its low of $0.07395 in the coming time.
Dogwifhat (WIF) Price Action
With a bullish recovery, the Dogwifhat price has surged 14.98% within the past day, with a trading volume of $401.144 Million. Despite recording a correction of 37.69% over the past month, this memecoin has rewarded its long-term investors with a YTD of 930.15%.
The RSI indicator has displayed a bullish rise in the WIF price chart, indicating increased buying pressure. Conversely, the EMA 50/200-day shows a high possibility of Death Cross, highlighting uncertainty in the future price movement.
Suppose, the bulls regain power, in that case, the WIF price will head toward its resistance level of $2.10 in the coming time. However, a bearish action could result in the Dogwifhat price retesting its support of $1.240.
Floki (FLOKI) Price Action
The Floki price has continued trading under a bullish sentiment by adding 10.89% within the past day and 3.27% over the past week. Moreover, with a yearly surge of 247.09%, it has secured the 56th position with a market capitalization of $1.207 Billion.
The Simple Moving Average (SMA) is on the verge of recording a bullish crossover in the 1D time frame, indicating an increase in the buying pressure within the market. Moreover, the MACD displays a constant rise in the green histogram with its average recording a positive crossover.
If the bulls continue gaining momentum, the Floki price will surpass its resistance level of $0.000155 and head toward its upper level of $0.00021435. Negatively, a trend reversal could pull the price toward its crucial support of $0.00010190.
Pepe (PEPE) Price Action
Reportedly, over the past day, the Pepe price has added 8.17% in valuation with a 24-hour volume of $736.58 Million. Notably, since its ATH, the Pepe memecoin has been trading under a bearish influence. This has resulted in it plunging over 53.00% in the past 3 months.
The Relative Strength Index (RSI) has recorded a bullish rise in its Pepe price action, suggesting an increase in the bullish sentiment. Moreover, the SMA indicator displays a similar trend, suggesting a positive outlook for the Pepe memecoin this week.
Maintaining the price above its support level of $0.00000880 will set the stage for this memecoin to test its upper high of $0.00001150. Conversely, if the bears regain control, the PEPE coin price will retest its important support level of $0.00000625 in the coming time.
