Bitcoin’s stagnation under the $70K level marks a market-wide confusion and fuels the volatility in certain coins. Utilizing the volatility for a bullish trend, the meme coins capitalize additional momentum for trend reversals and create new all-time high levels.
With more than 100% returns in the past 7 days, PEPE is one of the best performers in the game. Other meme coins like the FLOKI, BONK and BOME are performing well, with DOGE and SHIB slowly picking up pace.
As the top cryptocurrencies pause the uphill run, attention is rapidly increasing towards the meme coin sector. So, will the uptrend continue this week with the bullish wheels in action? More importantly, is it too late to buy these coins?
Let’s have a closer look at their price charts and analyse where the meme coin rally is headed.
With a rounding bottom reversal in the daily chart, the meme coin creates a massive bull run, creating a new all-time high. However, as it ends Monday on a 4.26% positive note, an intraday pullback of 4.25% is visible today.
The pullback undermines yesterday’s jump and warns of a correction spree in the coming days. As per the Fibonacci retracement levels, the meme coin is well established above the 1.618 level and is ready for a retest.
Considering the bulls make a comeback with a successful retest, the PEPE price could surge to the $0.000021 mark or the 2.618 Fibonacci level.
With the PEPE coin spearheading the rally in meme coins, the FLOKI price trend follows the sectorial uptrend. The dog-themed coin showed an intraday gain of 23.03% last night with the news of FLOKI listing on Coinbase perpetual on May 30 and a surprise news coming this week.
This projects a potential price jump coming for the FLOKI coin with a rounding bottom breakout. Further, the neckline for the bullish trend continuation pattern is at the $0.00030 mark.
As the trend-based Fibonacci levels, the breakout rally can target the $0.00058 level.
With an overall uptrend, the recent bull cycle for the meme coin within a rising channel completes a rounding bottom pattern. Further, the breakout rally challenges the overhead resistance trendline, teasing an extension of the bull run.
With a 72% rise in the last 14 days, the BONK price reflects a high-momentum uptrend. Further, last night’s 15% jump, which created a bullish engulfing candle, suggests a high possibility of a breakout rally.
A breakout rally in the meme coin can result in a price jump to the 1.618 Fibonacci level at $0.00008321 this week.
Amidst the sector-wide bull run, the BOME price is slowly but steadily gaining momentum with a triangle breakout. The bullish reversal in the meme coin is challenging the $0.014 level or the 61.80% Fibonacci level.
Considering the bull run continues in the market, the BOME price trend could siphon additional momentum for a jump. As per the Fibonacci levels, the meme coin shows potential for a breakout rally to reach the $0.023 level.
With the growing anticipation of a bullish trend in the broader market, FOMO is slowly increasing the market. Capitalizing on the FOMO sentiments, the meme coins are on a bull run with impressive performance over the weeks.
Further, the breakout events and bullish price action make the meme coins a lucrative option in the crypto.
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