There are speculations that several popular meme coins could be gearing up for significant price rallies, according to analysis from crypto trader Cold Blooded Shiller. Let’s take a look at the coins in the spotlight:
Leading the pack is PEPE, which Shiller identifies as having “the strongest chart” currently. PEPE has already reclaimed key support levels and was one of the first to break through initial resistance overhead.
Doge2014 raises 500K in days celebrating Dogecoin. Make potentially big profits and get in on exclusive airdrop!
Show more +So in Shiller’s view, PEPE already exhibiting relative strength by recapturing supports and hurdling resistances puts it at the forefront of the potential meme coin rallies. The price action demonstrates PEPE’s current upward trajectory may be more advanced than other meme coins at this stage.
Not far behind is BONK, the second strongest performer in Shiller’s assessment. Like PEPE, BONK has recaptured vital support but has yet to decisively pierce the first resistance barrier above its current price level. However, Shiller expects this breakthrough to occur “soon.”
Read Also: $1.4 Billion in Bitcoin on the Move: How Much Did It Cost to Transfer 22,329 BTC?
The third coin highlighted is dogwifhat (WIF), currently trading around $3.20 – an “important region to stabilize above” according to the analysis. While WIF hasn’t etched out new highs yet, downside risks are viewed as limited unless the $2.20 level is breached.
Looking at other prominent meme coins, Shiller suggests FLOKI needs to surpass $0.19 to potentially “fly,” while Shiba Inu (SHIB) is positioned for an impulse move upwards after respecting a long-standing diagonal resistance. As for Dogecoin (DOGE), the original meme crypto, traders are advised to “wait for that push” above the $0.165 hurdle.
The buzz around these lighthearted digital assets comes amid continued volatility and mixed trading conditions across the broader crypto markets. Meme coin rallies have often preceded or accompanied more widespread upside in the past. Only time will tell if these apparent setups will catalyze the animal-themed tokens’ next memetic rallies.
Follow us on X (Twitter), CoinMarketCap and Binance Square for more daily crypto updates.
Get all our future calls by joining our FREE Telegram group.
We recommend eToro
Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs.
Copy trading: allows users to copy the trades of leading traders, for free.
User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate.
