Date: Sun, Sept 15, 2024, 02:09 PM GMT
The cryptocurrency market has been buzzing with positive momentum this past week. Bitcoin (BTC) broke through the $60K barrier, jumping by 10.99% in just 7 days, igniting optimism across the market. Following Bitcoin’s lead, memecoins have also caught some tailwind, as the total memecoins market cap surged from $35 billion to $39 billion within the same time frame.
Here are three memecoins to keep an eye on this week, with potential for impressive gains.
1. Pepe (PEPE)
Pepe (PEPE) is currently the third-largest memecoin by market cap, and it’s been making waves with a 12.89% gain in the past week. With a current RSI of 49 and an RSI-based moving average (MA) of 47, PEPE is approaching a critical point on the downtrend line of a falling wedge pattern. This technical formation often signals a breakout. If PEPE breaks through this level, it could spark a rally, with price targets of $0.0000093 and $0.00001198. This could translate to a potential 50% surge from its current price.
2. Dogwifhat (WIF)
Dogwifhat (WIF) is another memecoin worth watching. Priced at $1.57, it recently bounced off a key support level of $1.41 within a descending triangle pattern. With a current RSI of 47 and an RSI-based moving average (MA) of 46, if momentum continues, WIF could break through the trendline and hit $1.96, giving it a 20% upside.
3. Bonk (BONK)
Bonk, the Solana-based memecoin, is currently trading at $0.00001706. It found support at the $0.00001526 level within a symmetrical triangle pattern, which often signals a consolidation before a breakout. With a current RSI of 43 and an RSI-based moving average (MA) of 38, if Bonk crosses the $0.00001929 resistance, it could see an 11% rise from its current price.
These memecoins are showing strong potential for gains in the coming days. Keep an eye on PEPE’s possible breakout, as it could lead the memecoin market into another rally.
Disclaimer: Before making any decisions, it’s crucial to do your own research and consider the inherent risks involved in trading these speculative assets. The potential gains are tempting, but so are the risks—stay informed and trade wisely.
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