As the Ethereum price crosses the $3900 level with a 2.75% jump to start the Asian trading hours, the meme coins tag along. With a bull run continuing in the trending coins like the PEPE, FLOKI and BONK, this week teases a massive jump.
With double-digit gains last week, almost reaching 100% in PEPE, will the meme coin experience a similar demand surge this week? Or is a correction impending over the high-volatility coins?
Let’s take a closer look at the price chart and technical analysis of PEPE, FLOKI and BONK to find out more.
75% Jump in PEPE Meme Coin Eyes $0.000031 This Week
In the weekly chart, the PEPE price explodes for a moonshot at supersonic, reaching an all-time high of $0.00001685. Currently, the meme coin trades close to this level and challenges the 1.618 Fibonacci level for another breakout rally.
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With the market cap on the verge of reaching $7 Billion, the Pepecoin is now the third biggest meme coin in the market. However, it must double in size to compete with the #2, Shiba Inu, which has a market cap of $14.42 Billion.
With an intraday gain of 3.63% and a massive 75% jump last week sets a bullish track for this week. A breakout rally above $0.00001678 could prolong the bull run to $0.000024 or $0.000031 this week.
Reversal Rally in FLOKI Eyes New All-Time High
As the meme coin sector explodes, the FLOKI coin price takes a bullish reversal to prolong the bull run. The increased demand at $0.00015 results in a rounding bottom reversal and reveals a neckline at $0.0002737.
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The meme coin has increased by 61% over the past six weeks and heads to challenge the neckline for a new breakout rally. This move will prolong the higher high formation and provide a bullish entry opportunity.
As the trend-based Fibonacci level retraced over the bull run in February, the breakout rally can target the $0.00039 level. With an intraday gain of 7.88%, FLOKI could optimistically reach the 1.618 Fib level at $0.00054.
Rising Channel In BONK Eyes 100% Upside
With a 35% rise last week, the 1W chart of the BONK price showcases a bullish engulfing candle. Further, the meme coin shows a rising channel pattern in the daily chart and eyes a breakout rally.
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With the broader market recovery, the breakout chances are increasing for the BONK. As per the Fibonacci levels, the breakout rally in the meme coin could reach the 1.618 Fibonacci level at $0.000082 this week. Optimistically, the uptrend might challenge the $0.00010 psychological mark.
Will These Meme Coins Give Bullish Returns This Week?
With rising Ethereum prices, meme coins can capitalize on the increased demand and investors’ confidence for an extended bull run. Further, the technical analysis of PEPE, FLOKI and BONK teases a breakout rally this week. Hence, high return entry opportunities could light up for the sideline traders this week.
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