Price Analysis View Non-AMP

Best Meme Coins to Buy Now: DOGE, BABYDOGE, JASMY for October Rally

Published by
Sohrab Khawas

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. 

Dogecoin (DOGE)

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.

BABY DOGE Coin

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.

Jasmy Coin

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.  

Sohrab Khawas

Sohrab is a passionate cryptocurrency news writer with over five years of experience covering the industry. He keeps a keen interest in blockchain technology and its potential to revolutionize finance. Whether he's trading or writing, Sohrab always keeps his finger on the pulse of the crypto world, using his expertise to deliver informative and engaging articles that educate and inspire. When he's not analyzing the markets, Sohrab indulges in his hobbies of graphic design, minimal design or listening to his favorite hip-hop tunes.

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