The post Top Memecoins For Massive Upside This Crypto Bull Run! appeared first on Coinpedia Fintech News
With the price of Bitcoin hovering close to its $64,000 mark, memecoins are losing momentum and have recorded a significant correction in the respective portfolios over the past few days.
However, this has created a good entry point for investors to stack more altcoins at a discounted price as the crypto market is on the verge of entering into its next Bull market cycle.
Planning on stacking up more memecoins for the upcoming crypto bull run? Scroll down as, in this article, we have covered the top 2 memecoins that have the potential of dominating the memecoin rally during the upcoming months.
Dogwifhat (WIF) Price Action:
Amid increased selling pressure, the WIF price has recorded 6/7 red trading days, highlighting increased bearish sentiment in the market. Further, with a drop of 8.43% within the past 24 hours, this memecoin has failed to hold its value above the important support level of $2.10.
The Moving Average Convergence Divergence (MACD) shows a constant rise in the red histogram, with its averages recording a bearish convergence in the 1D time frame. This indicates a negative outlook for the Dogwifhat price this week.
If the market pushes the WIF coin price above its resistance level of $2.10, the bulls will regain momentum and test its upper resistance level of $3.050 in the coming time. However, if the bears continue to hold power, the Dogwifhat crypto will plunge toward its crucial support level of $1.240.
BOOK OF MEME (BOME) Price Action:
Despite recording a correction of 8.43% within the past 24 hours, the BOOK OF MEME price has jumped 8.71% over the past week and has a YTD return of 892.89%. Further, with a market capitalization of $623.27 Million, this memecoin has secured the 99th position in the global crypto list.
The technical indicator, RSI, displays a sharp decline toward its neutral point, indicating increased selling-over-buying pressure within the crypto space. Further, the SMA is on the verge of recording a bearish convergence, suggesting that the BOME price will continue losing momentum.
Suppose, a bullish reversal occurs, in such case, the BOOK OF MEME price will retest its resistance level of $0.0110. Moreover, if the bulls hold the price at that level, the BOME memecoin will test its upper resistance level of $0.0151. Conversely, bearish action could result in it testing its crucial support of $0.007525.
#PriceAnalysis #Altcoins [Source: Coinpedia]