The altcoins are presenting a stronger stance this week after the Halving weekend. With a bullish reversal and a 2.47% jump in the total market cap of altcoins, the meme coins are stepping into the limelight.
Amidst the top performers, the blue-chips coins make a conservative move, and the low-cap altcoins are rising fast. Even in the meme coins, a similar situation is visible. With PEPE and FLOKI taking a jump, the DOGE and SHIB are waiting for an additional boost with overall market recovery.
Will the meme coins make a jump this week for a new bull run?
With a massive market cap of $23.36 Billion, Dogecoin ranks as the biggest meme coin and the 8th biggest altcoin. Trading at $0.1622, the DOGE price trend shows a 26% drop this month from the peak of $0.2198 last month.
Under a correction phase, as the overall market lacks bullish momentum, the DOGE price action forms a falling channel. Further, the 4H chart showcases a death cross, reflecting a solid bearish reversal possibility.
However, the ongoing recovery from the bottom trendline teases a jump to the overhead trendline. The uptrend will even have to face the 50% trend-based Fibonacci level.
Optimistically, a breakout rally will lead to a moonshot move in Dogecoin and a reclaim of the psychological mark of $0.20.
Despite a weak bullish move in Dogecoin, this frog-themed meme coin offers a high likelihood of a bull run. With a $2.75 Billion market cap, PEPE stands in the top 50 altcoins. Trading at $0.000006556 and an intraday jump of 9.83%, the recovery rally in PEPE teases a breakout rally.
Following the bull run in early March, the meme coin undergoes a correction in the falling channel. However, the bullish recovery in the channel, accounting for a 33% jump in 5 days, teases a breakout shortly.
As the meme coin resurfaces above the 50D EMA, the sideliners anticipate an upside beyond $0.0000070. Optimistically, the breakout rally could reclaim the psychological mark of $0.000010.
Also Check Out : Memecoin Mania : Here’s How Trader Turned $1.49 Million in 2 Days
Floki Inu (FLOKI)
Ranking amongst the top performers at the start of this week, the FLOKI price trend showcases a comeback. With a bullish reversal accounting for a price jump of 40% in the last four days, the meme coin hints at an extended bull run.
Similar to the rest of the meme coins, the 4H chart shows a falling channel in the FLOKI price trend. Further, a death cross occurred during the correction phase. However, the ongoing bull cycle teases an extension beyond 200 EMA and challenges the overhead trendline.
Also Read : Top Altcoins to Stack This Week Post Bitcoin Halving
In case of a bullish breakout, the FLOKI price could hit the trend-based 50% Fibonacci level at $0.00030 mark.
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