Meme Coins to Buy: This week, the crypto market saw a noticeable drop that caused Bitcoin’s struggle to maintain above $70,000. With most major altcoins experiencing renewed oversupply, market sentiment points to a prolonged consolidation.
In a recent tweet, well-known trader Alicharts highlighted the significant downturn in the meme coin sector. According to the analysis, meme coins experienced the biggest losses during the latest market correction. In particular, top assets such as DOGE, SHIB and PEPE saw price declines of 8.43%, 6.71% and 11.35% respectively.
The tree chart provided by Charts reveals a broad spectrum of negative price changes among meme coins, marking it as one of the hardest hit assets. However, amid the widespread downturn, one meme coin has managed to defy the trend. $TRUMP emerged as a surprise outlier and registered a positive price change of 2.54%.
Also Read: “Inflation Is A Hidden Tax On Your Money” Bitcoin Exchange Beats Fiat In New Ad
1) Meme Coins to Buy – Dogecoin (DOGE)
Dogecoin (DOGE) is a popular cryptocurrency created as a joke based on the “Doge” meme with a Shiba Inu dog. Over the past ten weeks, the DOGE price has seen a steady correction trend, led by a descending trendline in the daily chart.
The steep resistance dropped this memecoin from $0.228 to $0.1449, registering a loss of 36%. Dogecoin currently has a market cap of $21.08 billion, while its 24-hour trading volume is $799.
If the supply pressure continues, the DOGE could fall to the $0.122 monthly support which coincides with the 61.8% Fibonacci support. For buyers to regain control of this asset, a breakout above the overhead resistance is required.
If successful, the DOGE Price forecast indicates a rally to challenge the $0.228 high.
2) Pepe Coin (PEPE)
Pepe coin (PEPE) is a meme-based cryptocurrency inspired by the popular internet meme character Pepe the Frog. Amid the recent market correction, the PEPE price formed a new high at $0.00001725 and tumbled 28% to $0.0000123.
According to data from Coinmarketcap, the Pepe coin shows a market capitalization of $5.2 billion, while the trading volume decreased by 34% to $1.31 billion. The falling coin price recently breached a support trend line that has carried the past two months of recovery. If the collapse is sustained, the PEPE price could fall to the $0.000006 mark.
However, a whale recently bought 231.6 billion Pepe Coins (PEPE) tokens worth $2.9 million from Kraken. This brings the whale’s total holdings to 750.34 billion PEPE, worth $8.34 million, acquired at an average price of $0.00001111 since March 16.
Accumulation at dip indicates that the whales are positive for the future growth of Pepe Coin.
Also read: Pepe price prediction: on the verge of 35% action to $0.00002
3) SLEEP (TRUMP)
MAGA (TRUMP) is a meme-based cryptocurrency launched in August 2023, inspired by the slogan “Make America Great Again.” This token aims to blend political sentiment with blockchain technology, creating a unique niche within the crypto market.
The TRUMP coin has seen a steady rally since April, as evidenced by the series of higher low formations on the daily chart. The recovery pushed memecoin from $3.54 to $17.75 high and registered a 400% growth.
During a recent fundraiser in San Francisco, Donald Trump positioned himself as a staunch proponent of cryptocurrency, explicitly opposing regulatory efforts by Democrats. Trump has promised that, if re-elected, he will end these regulatory measures within the first hour of his administration, claiming that he will be the “crypto president”.
The market participants are therefore positive towards the MAGA coin movement which suggests a sustained rise to $20.5 followed by $25.5.
Also Read: Pro-Bitcoin El Salvador President Predicts Donald Trump’s Victory in US 2024 Elections
Key takeaways
The crypto market has seen low volatility since April-May following Bitcoin price consolidation. However, despite the sluggish price behavior, the MEME sectors offer dynamic movements due to their volatile nature, susceptible to market sentiment and speculative trading.
related articles
Disclaimer for Uncirculars, with a Touch of Personality:
While we love diving into the exciting world of crypto here at Uncirculars, remember that this post, and all our content, is purely for your information and exploration. Think of it as your crypto compass, pointing you in the right direction to do your own research and make informed decisions.
No legal, tax, investment, or financial advice should be inferred from these pixels. We’re not fortune tellers or stockbrokers, just passionate crypto enthusiasts sharing our knowledge.
And just like that rollercoaster ride in your favorite DeFi protocol, past performance isn’t a guarantee of future thrills. The value of crypto assets can be as unpredictable as a moon landing, so buckle up and do your due diligence before taking the plunge.
Ultimately, any crypto adventure you embark on is yours alone. We’re just happy to be your crypto companion, cheering you on from the sidelines (and maybe sharing some snacks along the way). So research, explore, and remember, with a little knowledge and a lot of curiosity, you can navigate the crypto cosmos like a pro!
UnCirculars – Cutting through the noise, delivering unbiased crypto news
