The cryptocurrency market has shown negative price action for the second day in a row, indicating rising bearish sentiment in the crypto space. Additionally, top tokens pared all their gains from the recent pump, highlighting a mixed sentiment.
After this, memecoins showed a similar trend by recording a significant correction in their respective portfolios. With the increasing volatility in the crypto space, will memecoins make a comeback this month?
Dive in because in this article we have covered the market sentiments and price analysis of the top 5 memecoins that have the potential to record significant upward trends in their respective portfolio during the coming time.
Mog Coin (MOG):
Despite a correction of around 20% within the last 24 hours, the MOG price is up 4.14% over the last seven days. Moreover, the memecoin has gained 11.02% in the last 30 days and has a YTD return of around 3.100%.
The moving average convergence-divergence (MACD) shows a constant decrease in the green histogram, indicating an increase in selling pressure for the memecoin in the crypto space. Additionally, the averages show a high possibility of a negative crossover, suggesting uncertainty in future price action.
On the other hand, the SMA indicator registers a negative crossover in the 1D time frame, which suggests a negative outlook for the MOG coin price in the coming time.
If the market regains momentum, the Mog price will prepare to retest its upper resistance level of $0.000002130. Conversely, if the bears continue to dominate the market, the Mog Coin crypto will drop to its low of $0.000001950.
Dogwifhat (WIF):
Despite jumping 1.37% over the past seven days, dogwifhat price has lost 10.28% over the past 24 hours and 35.16% over the past 30 days. Positively, this memecoin has a year-to-date (YTD) return of 1,096.96%.
The technical indicator, SMA, is showing a potential bearish convergence, suggesting a strong bearish sentiment for the WIF price in the crypto market.
Additionally, the RSI failed to surpass its midpoint, resulting in it recording a negative price trend. Furthermore, the average shows a high possibility of a negative crossover, which suggests that the WIF coin price will continue to lose value this week.
If the dogwifhat price holds its value around the crucial support level of $2.10, the bulls will regain momentum and prepare to test its upper resistance level of $3.990 in the coming time. However, in case of bearish action, the memecoin will drop to its low of $1,240.
Bonk (BONK):
The BONK memecoin recorded a similar trend by recording a correction of 4.85% within the last day with a trading volume of $358.71 Million, a change of -8.38%. However, it has jumped 9.42% in the past seven days and 67.30% in valuation this year.
On a positive note, the MACD is displaying a rising green histogram, indicating an increase in buy-over-sell pressure in the crypto space. Furthermore, the averages show a constant upward trend, suggesting that the Bonk price will continue to gain value this week.
On the other hand, the Simple Moving Average (SMA) continuously acts as a support for the price chart in the 1D timeframe, suggesting a positive outlook for BONK memecoin.
If the market pushes the BONK coin price above the resistance level of $0.0000270, this memecoin will move to its upper resistance level of $0.00003390 during the coming weeks. On the downside, if the bears gain control, the price will drop to its low of $0.0000150.
Pepper (PEPE):
Amid cross-border market correction, the Pepe price lost 6.01% in the last 24 hours and 13.29% over the last seven days. Moreover, the memecoin has fallen by 28.39% in the last 30 days. However, it has risen by 737.27% this year, highlighting a long-term positive influence.
The technical indicator, MACD, is showing a constant flat line in the histogram, highlighting a weak price action for the memecoin in the cryptocurrency space. Moreover, the averages show a neutral trend, which suggests a mixed sentiment for the PEPE price.
If the market regains momentum, the PEPE coin price will prepare to test its upper resistance level of $0.00001410. Conversely, if the bears overwhelmed the bulls, the memecoin would drop to its important support level of $0.00000880.
WHY):
Built on the BNB Smart Chain (BEP20), the WHY project is a cryptocurrency based on a meme. It takes its inspiration from internet memes and has received significant attention from the crypto market in recent weeks.
With a trading price of $$0.0000001153, and a circulating supply of 420 trillion WHY tokens, this memecoin secured the 545th position in the global crypto list with a market capitalization of $48.42 million.
Despite a correction of about 12% within the last 24 hours with a trading volume of $21.13 Million, a change of +13.12%. This altcoin has risen 437.87% in valuation since inception, initiating a strong long-term bullish sentiment.
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!
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