Date: Sat, Sept 28, 2024, 06:01 AM GMT
The cryptocurrency market has been buzzing with excitement over the past two weeks, thanks to the Fed’s recent interest rate cut and bullish sentiment heading into Q4. Bitcoin has surged past the $65K mark for the first time since August, setting the stage for a broader market rally. Among the biggest beneficiaries of this bullish shift are two popular memecoins: Pepe (PEPE) and Dogwifhat (WIF).
Both memecoins are seeing impressive gains, with PEPE up nearly 38% over the past week, while Dogwifhat (WIF) has shot up a staggering 34%. Let’s take a closer look at their recent performance and see which one might continue to outperform in the coming days.
Pepe (PEPE)
PEPE, currently the third-largest memecoin by market cap on the Ethereum network, made a notable breakout on September 19. The token broke through its downtrend line at $0.0000075, pushing it to its current price of $0.000011.
However, PEPE is now facing a key resistance zone between $0.00001197 and $0.00001280. This could lead to a period of consolidation as traders wait to see if the price can break through this barrier. If PEPE successfully breaks out of this range, it could soar to $0.00001654, representing a potential 50% upside from its current price.
Dogwifhat (WIF)
WIF, the top-performing memecoin from the Solana ecosystem, has been riding a similar wave of bullish momentum. After breaking out at $1.80, WIF has surged to $2.27 and is now consolidating just below its resistance at $2.29.
If WIF can maintain its upward momentum, a breakout from its current resistance could push the price to $2.69—a 19% upside from its current level.
Which Will Be the Top Performer Next Week?
Both PEPE and WIF are primed for further gains, especially with bullish sentiment carrying into October. However, WIF appears to have the edge for now. While PEPE still has to clear a key resistance level, WIF seems to be in a stronger position, hovering just below its resistance and poised for a breakout.
That said, memecoin rallies can be unpredictable, and both tokens have the potential to surprise investors in the coming days.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Always do your own research before making any investment decisions.