The post Top Memecoins Tokens To Stack In This Crypto Market Correction! appeared first on Coinpedia Fintech News
The cryptocurrency market has displayed a negative price action for the second consecutive day, indicating a rising bearish sentiment in the crypto space. Moreover, top tokens have leveled all their gains from the recent pump, highlighting a mixed sentiment.
Following this, memecoins have displayed a similar trend by recording a significant correction in their respective portfolios. With the rising volatility in the crypto space, will memecoins make a comeback this month?
Dive in as, in this article, we have covered the market sentiments and price analysis of the top 5 memecoins that have the potential to record significant uptrends in their respective portfolio during the upcoming time.
Mog Coin (MOG):
Despite recording a correction of approximately 20% within the past 24 hours, the MOG price has jumped 4.14% over the past seven days. Moreover, the memecoin has surged 11.02% within the past 30 days and has a YTD return of approximately 3,100%.
TradingView: MOG/USDT
The Moving Average Convergence Divergence (MACD) displays a constant decline in the green histogram, indicating an increase in the selling pressure for the memecoin in the crypto space. Moreover, the averages show a high possibility of a negative crossover, suggesting uncertainty in future price action.
On the other hand, the SMA indicator records a negative crossover in the 1D time frame, suggesting 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 plunge toward its low of $0.000001950.
Dogwifhat (WIF):
Despite recording a jump of 1.37% over the past seven days, the dogwifhat price has lost 10.28% within 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%.
TradingView: WIF/USDT
The technical indicator, SMA, displays a potential bearish convergence, suggesting a strong bearish sentiment for the WIF price in the crypto market.
Moreover, the RSI has failed to surpass its mid-point, resulting in it recording a negative price trend. Further, the average shows a high possibility of a negative crossover, suggesting the WIF coin price will continue losing value this week.
If the dogwifhat price holds its value about 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 toward its low of $1.240.
Bonk (BONK):
The BONK memecoin has recorded a similar trend by recording a correction of 4.85% within the past day with a trading volume of $358.71 Million, a change of -8.38%. However, it has jumped 9.42% within the past seven days and 67.30% in valuation this year.
TradingView: BONK/USDT
Positively, the MACD displays a rising green histogram, indicating an increase in the buying-over-selling pressure in the crypto space. Further, the averages show a constant uptrend, suggesting the Bonk price will continue gaining value this week.
On the other hand, the Simple Moving Average (SMA) constantly acts as a support to the price chart in the 1D time frame, 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 head toward its upper resistance level of $0.00003390 during the upcoming weeks. Negatively, if the bears gain control, the price will plunge toward its low of $0.0000150.
Pepe (PEPE):
Amid cross-border market correction, the Pepe price has lost 6.01% within the past 24 hours and 13.29% over the past seven days. Moreover, the memecoin has plunged 28.39% over the past 30 days. However, it has surged 737.27% this year, highlighting a long-term positive influence.
TradingView: PEPE/USDT
The technical indicator, MACD, displays a constant flatline in the histogram, highlighting a weak price action for the memecoin in the cryptocurrency space. Moreover, the averages show a neutral trend, suggesting 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 overpowered the bulls, the memecoin would plunge toward its important support level of $0.00000880.
WHY (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 significant attention from the crypto market over the past few weeks.
With a trading price of $$0.0000001153, and a circulating supply of 420 Trillion WHY tokens, this memecoin has secured the 545th position in the global crypto-list with a market capitalization of $48.42 Million.
Despite recording a correction of approximately 12% within the past 24 hours with a trading volume of $21.13 Million, a change of +13.12%. This altcoin has surged 437.87% in valuation since inception, initiating a strong long-term bullish sentiment.