The post As Bitcoin Hits $61K, Will These Top Meme Coins Surge 2x? appeared first on Coinpedia Fintech News
With the BTC price hitting the $61k mark, meme coins are finding a boost in their search trends. Such that, the top meme-based cryptocurrencies are gearing up for reversals and breakout runs to lead the bull run.
So, let’s take a quick look at the top meme coins that are ready for a bull run this week.
Top Meme Coins To Buy This Week:
Mog Coin (MOG)
Despite a short-term declining trendline, the long-term uptrend in the Mog Coin price forms a support trendline. However, the meme coins show a bullish reversal from the 200D EMA, ready for a new sprint.
MOG Coin Price Anaysis, 20th Aug 2024
Leading to a bullish crossover in the MACD and signal lines, the recovery run in MOG price challenges the short-term resistance trendline. Currently, the meme coin trades at $0.000001142 with an intraday jump of 5.21%
A breakout rally in the MOG coin price can surpass the 50% Fibonacci level at $0.000001160 to reach the $0.000003153 mark.
Dogwifhat (WIF)
With a double bottom reversal gaining momentum as the broader market recovers, WIF price starts a bull cycle. Trapped in a falling wedge, the meme coin recovery run shows an intraday gain of 9.27% and forms a bullish engulfing candle.
DogWifHat Price Analysis, 20th Aug
With the MACD and signal lines merged in the negative territory, the 50D and 200D EMA are ready for a death cross. However, the recent recovery in the meme coin teases a bull run to challenge the overhead trendline.
A breakout rally above the trendline will reverse the declining trend in EMAs and potentially hit the 50% Fib level at $3.40. Optimistically, a bull run in the crypto market could result in a price surge to $5.54.
Pepe (PEPE)
Forming a bearish channel in the daily chart, the PEPE price action shows a negative cycle. However, the underlying surge in demand shows a double-bottom reversal at the $0.00000772 support level.
Pepecoin Price Analysis, 20th Aug
Furthermore, the meme coin price action shows the reversal rally ready to give a pennant breakout run. Supporting the recovery run, the MACD indicator’s bullish crossover and the RSI line’s bullish divergence tease a price jump.
A breakout rally in the PEPE price can find opposition near the resistance at the $0.000010 mark. Further, a second breakout run can result in a price surge to $0.000016.
Popcat (POPCAT)
Taking support over a long-coming ascending trendline, POPCAT teases a double bottom reversal in the daily chart. The meme coin shows a bull cycle forming two consecutive green candles, accounting for a 24% surge.
Popcat Price Analysis 20-Aug
With a bullish crossover in the MACD indicator and the positive divergence in the RSI line, buyers tighten their grip over meme coins. Based on the Fibonacci retracement, POPCAT challenges the 23.60% Fibonacci level at $0.5174.
Currently, the meme coin trades at $0.50 and reclaims the psychological mark. A bullish breakout of the neckline could propel the POPCAT price to the $1 psychological mark for a 2x surge.