Date: Thu, Sept 12, 2024, 09:08 AM GMT
The cryptocurrency market is buzzing today as major cryptocurrencies experience a strong surge, led by Bitcoin (BTC), which has jumped 3.0% in the last 24 hours. BTC is now trading above $58,000 and appears poised to reclaim the $60,000 level. Riding this wave of bullish momentum, several memecoins are also making significant moves, with Popcat (POPCAT), Brett (BRETT), and MOG Coin (MOG) showing strong upside action, exactly as we mentioned it in our weekly report.
Popcat (POPCAT)
Popcat, a Solana-based memecoin, has been on a tear today, surging by an impressive 17.29%. Currently, POPCAT is trading at $0.6683, with a market cap of $654 million. The coin has bounced back solidly from its support level at $0.47. If this bullish momentum continues, POPCAT could target its next resistance level at $0.7568, which represents a potential 17% upside from its current price. Traders should keep an eye on this level as a breakout could signal further gains.
Brett (BRETT)
BRETT, a memecoin from the Based ecosystem, is also enjoying a rally, up by 5.01% today. Despite trading within a descending channel pattern, BRETT has shown resilience and could surge to its next resistance level at $0.097. This target offers a potential 21% upside from its current price, making it a key level to watch. A break above this resistance could open the door for even greater gains, presenting a significant opportunity for traders.
Mog Coin (MOG)
MOG Coin has followed suit with a 3.69% increase, showing bullish signs after breaking out of a downtrend today at the $0.00000090 level. MOG is currently trading at $0.000001013, with its next resistance levels at $0.000001080 and $0.0000014. These levels are crucial as they could determine MOG’s next move. A sustained rally could see MOG pushing past these resistances, signaling further strength in this memecoin.
Key Consideration: Bitcoin’s Performance
While these memecoins are showing positive signs, it’s crucial for investors to monitor Bitcoin’s performance closely. Bitcoin’s stability or upward movement could provide the support needed for these memecoins to maintain their gains. However, if Bitcoin becomes volatile, it could apply downward pressure on the prices of these and other memecoins.
Disclaimer: The information provided in this article is for informational purposes only and should not be considered financial advice.