With a relatively silent week for the meme coin sector, the bullish demand is shifting to the opposite altcoins. Amidst the Bitcoin run to $73,000, Ethereum Dencun hype and the Bitcoin forks skyrocketing, can we witness a second surge within the meme coin rally?
Following the dramatic formation of skyscraper bullish candles, meme cash like Dogwifhat(WIF), FLOKI and DOGE are resting. Nonetheless, the not too long ago gained bullish dominance over vital ranges teases a pattern continuation for these community-driven cash.
So, let’s have a more in-depth have a look at the meme cash and analyze the following potential value bounce.
Meme Coin Dogwifhat (WIF) Eyes Breakout
With a bullish 2024, the WIF value sustains an uptrend with a dramatic YTD surge of 1381%. Being one of many prime performers, not simply within the meme cash however in your complete market, WIF value sustains the dominant bounce.
Following the massive bull run, Dogwifhat is taking a sideways stance and difficult the newly shaped ceiling at $2.40. With a 23% bounce within the final 6 hours, the WIF value is teasing one other breakout rally.
Presently, the WIF value trades at $2.322, with a surge in buying and selling quantity supporting the potential breakout. In such a case, the breakout rally may doubtlessly attain the overhead 1.618 Fib stage at $3.71.
Bulls Put together One other Run in Floki (FLOKI)
With unimaginable efficiency inside two weeks, the FLOKI value pattern adjustments your complete value chart. Scaling greater than 600% surge inside two weeks, the altcoin grew to become one of many best-performing dog-themed meme cash in these weeks.
Nonetheless, this week, the bull run takes a brief break because it types a long-range Doji candle. Presently, the meme coin trades at $0.00027 with an intraday bounce of two.34%.
Additional, as per the pivot factors customary, the following resistance ranges are at $0.00034 and $0.00042. With the present Doji candle coming as a brief retest, the sideline merchants are getting an early entry alternative to the upcoming value bounce.
Sector Chief Dogecoin (DOGE) Alerts Pattern Reversal
Being the most important meme coin per market cap, Dogecoin stays the highest canine on this sector. With a turnaround story after years of winter pattern, the DOGE value is making a comeback with a outstanding surge in buying and selling quantity.
Within the current 14-day rally, Dogecoin confirmed a formidable bounce of just about 100%. Presently, the DOGE value trades at $0.1730, with a 120% surge within the final six weeks.
The Dogecoin value motion showcases a pattern reversal, prepared to interrupt above the 23.60% Fibonacci stage. In case the consumers handle a powerful closing above this Fib stage, the altcoin is ready for one more surge to doubtlessly attain 50% Fib at $0.31.
Will The Meme Coin Rally Survive?
Amidst the rising bullish sentiment within the crypto business, the market cap is approaching the $3 Trillion mark. Additional, with meme cash being the hyped-up, trending, and easy-to-invest choice, their demand is growing remarkably. Therefore, with the bull market gaining momentum, the meme coin rally is anticipated to develop within the coming months.
