With the price of Bitcoin stabilizing above the $63K level, the crypto market has regained momentum. Furthermore, meme coins have recorded the highest gains, with some tokens recording a three-digit gain in their respective portfolios.
Planning on investing in memecoin but confused about its future prospects? Dive in as, in this article, we have covered the top 2 memecoins that have the potential to outperform the top cryptocurrencies in the upcoming months.
Pepe (PEPE) Price Action
Amid increased bullish sentiment, the Pepe price has jumped ~5% in the past 24 hours and 11.98% over the past week. Despite recording a correction of 7.68% during the past 30 days, it has recorded a YTD return of +474.94%.
The Moving Average Convergence Divergence (MACD) displays a constant green histogram in the 1D time frame. Further, the EMA 50/200-day is on the verge of experiencing a Golden Cross. This suggests a bullish outlook for the memecoin in the coming time.
If the market pushes the price above its resistance level of $0.00000880, the bulls will prepare to test its upper resistance level of $0.00001150. Conversely, if the bears regain momentum, the PEPE price will retest its support level of $0.00000625.
Wondering how high Pepe price could go by year’s end? Read our Pepe Price Prediction 2024-2030
Dogwifhat (WIF) Price Action
By defying all odds, the WIF price has recorded a bullish action by adding 12.89% in the past day. Further, it has jumped ~25% over the past week and 1.49% during the past month. With a YTD return of 1,161% and a market cap of $1.926 billion, it has secured the 49th position.
The technical indicator RSI has recorded a sharp rise toward the overbought range in the 1D time frame. Further, with its SMA indicator supporting the WIF price chart, this memecoin shows a high possibility of positive price action in the coming time.
If the market regains momentum, the Dogwifhat price will break out of its resistance trendline of $2.10 and head toward its upper high of $3.050. On the flip side, a bearish reversal could pull the price toward its low of $1.240 during the upcoming weeks.
Credit: Source link