With the Bitcoin price crossing the $64K mark today, the meme coin rally goes ballistic. As the top names witness a gradual sophisticated rise for a meme coin, the trending coins go for a moonshot.
With top performers being a mixed lot of DeFi, Layer-1s, and other altcoins, the meme coins take significant space for themselves. So, let’s look at some rising meme coins to buy for a 2x rally in October.
As the biggest meme coin in the industry, Dogecoin is back in action as the broader market recovers. With the four-day recovery run, the Doge price has increased significantly by almost 8% and surpasses the 50-day EMA.
Furthermore, the meme coin reclaims dominance over the $0.10 psychological mark and teases a bullish continuation to the 200-day EMA at $0.1184. Based on the price analysis, the Doge price reveals a falling wedge pattern breakout in the daily chart as it exceeds the 50-day exponential moving average.
The wedge pattern breakout is gradually gaining momentum. Based on the Fibonacci level, the 23.60% level at $0.1239 is the next potential target in the short term.
As the broader market recovery continues, Dogecoin shows potential to hit a new 52-week high, surpassing the $0.2289 mark. Based on the Fibonacci level, the 1.618 level at $0.2976 can be the next potential target for Dogecoin in 2024.
Read more about Dogecoin’s future to find out if the uptrend will reach $1 in our DOGE price prediction for 2024-2030.
Similar to Dogecoin, the Baby Doge Coin shows a falling channel breakout in the daily chart, resulting in a massive upside move. Contrary to Dogecoin’s conservative trend over the past few days, the Baby DogeCoin has increased by 155% in the past two weeks, creating a streak of strong bullish candles.
The meme coin is hardly 50% away from its 52-week high of $0.000003941. Currently, it is trading at a discount of 75% from its 52-week high and ready to give a breakout of the 50% Fibonacci level at $0.000002364.
On the verge of completing a rounding-bottom reversal, the meme coin has the potential to reach the 1.618 Fibonacci level at $0.000005813. Hence, the meme coin shows an underlying potential of more than 150% with the broader market recovery.
With a declining trend, the JASMY coin price has dropped from its 52-week high of $0.0045 to the current price of $0.02153, a 51% decline. However, the altcoin has recently recovered from its local bottom at $0.01739, accounting for a 23% surge in the past 16 days.
Furthermore, the intraday gain of 2.02% creates the fourth consecutive bullish candle, increasing the chances of a bullish trend.
The recovery rally has a cup-and-handle pattern, with a decline at the 200-day EMA that is merged with the 50-day EMA. Hence, the recovery rally attempts to limit the chances of a death cross event.
Furthermore, the declining trend forms a falling-wedge pattern with the overhead resistance slightly below the 23.60% Fibonacci level at $0.2335. Hence, the breakout rally will likely challenge the confluence of resistance before reaching the 50% Fibonacci level at $0.029.
However, the uptrend will depend upon the overhead trendline breakout and broader market support.
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