The post Here’s What to Expect from the Memecoins During the Upcoming Crypto Winter appeared first on Coinpedia Fintech News
The market capitalization of memecoins has dropped below $40 billion while the volume continues to form higher highs and lows. Although Dogecoin & Shiba Inu has remained largely dominant, other memecoins like PEPE, FLOKI, & WIF have been managing to cope with the growing bearish heat. Here is what to expect from these tokens as the crypto winters are about to begin.
Pepe (PEPE) Price Analysis
The PEPE price is heading towards the apex of the decisive symmetrical triangle while remaining stuck along the support. The volatility of the token has dropped heavily in the past few days as the volume has also remained drained. Now that the bulls are displaying less interest in elevating the price levels, is there any scope for the bears to drag the levels below the range?
The RSI has been maintaining a strong ascending trend along the ascending trend line, suggesting the presence of the bulls. Meanwhile, the MACD is displaying a drop in the buying volume, being within the negative range. Therefore, the PEPE price is believed to trade along the lower support of the triangle, followed by a bullish breakout above $0.0001.
FLOKI (FLOKI) Price Analysis
FLOKI’s price lost most of its gains following a major rejection from the levels above $0.0003. The bulls are utilizing all their strength to defend the crucial support zone between $0.00012 and $0.00013. If the bulls manage to break above the zone before the end of the monthly trade, the FLOKI price is believed to trigger a fresh bullish upswing ahead.
After losing over 60% in the past couple of months and more than 20% in the past couple of days, the bulls are preparing for a bullish reversal soon. However, after rebounding from the lows, the FLOKI price has been maintaining a consolidated ascending trend, intending to hit the upper threshold in a short while. Besides, the price remains within the bullish range of the supertrend, which suggests a rebound above $0.00015 could be imminent.
dogwifhat (WIF) Price Analysis
While the WIF prices have demonstrated huge moves in the recent past, the overall trend has remained stuck under a strong bearish influence. The price continues its trade within a descending parallel channel, holding within the upper bands. Now that the technicals remain within a bullish range, the bullish possibility beyond $2 emerges while remaining within a bearish influence.
The token has been experiencing a notable rise in volume, which suggests a notable rise in the trader’s interest in the token. Although the trend remains stuck within a bearish range, the rise in volatility may eventually flip the trend in a short while. Moreover, the rising RSI suggests some possibility of testing the upper resistance of the channel. Therefore, if the bulls display some strength at these levels, a breakout beyond the range may be imminent, elevating the levels close to $2.5.