Meme Coin Market Overview: While DOGE and WIF Coin See Double-Digit Declines, Fartcoin (FARTCOIN) Surges Over 200%

The second week of December saw mixed performances for meme coins. Most of them experienced double-digit declines. This development is in line with broader market conditions

Meme coin prices experienced mixed performances during the second week of December, with most suffering double-digit declines. This aligns with broader market conditions, as most cryptocurrencies lost their bullish momentum recently. Meme coins like Dogecoin (DOGE) and dogwifhat (WIF Coin) also saw their prices decline. However, one meme coin managed to stand out from the rest.

Crypto analyst Victor Olanrewaju discusses 3 meme coins in his analysis.

Dogecoin (DOGE): Is the original meme coin tired?

A few weeks ago, Dogecoin signaled that it was ready to push towards the $1 mark. This week, however, things changed as the meme coin dropped 10% in value. According to the 4-hour chart, DOGE’s drop in value coincides with a rise in distribution. The Money Flow Index (MFI), which gauges the level of buying and selling pressure in the market, specifically dropped from 75.57 to 24.12. This decline indicates that some DOGE holders booked profits following the previous week’s uptick.

At the time of writing, there is a low level of trading volume around DOGE, suggesting that the recovery period has not yet begun. If this trend continues, we could see Dogecoin drop once again, this time to the $0.37 support level. However, this scenario could change if accumulation of the meme coin increases, potentially driving Dogecoin towards the $1 milestone.

dogwifhat (WIF Coin): The meme coin saw a sharp correction!

Like Dogecoin, WIF’s price also declined this week. However, WIF Coin’s price drop is a 25% correction due to increased selling pressure. On the daily chart, WIF formed a head and shoulders pattern. The head and shoulders pattern progresses from bullish to bearish and indicates that the value of the cryptocurrency could fall further. Keeping this in mind, we could see the price of WIF Coin drop to as low as $1.88. However, this prediction may be invalidated if the bulls manage to defend the support at around $2.35. In this scenario, the meme coin could rise to $3.93.

Fartcoin (FARTCOIN): The weird meme coin gained over 200%!

While meme coins like DOGE and WIF suffered declines, Fartcoin, a meme coin that recently entered the market, saw its price explode. FARTCOIN gained over 200% this past week. This significant price increase could be attributed to the rising bullish sentiment around AI agents. Fartcoin is one of the meme coins that emerged following Truth Terminal’s post. On the technicals front, the volume around the meme coin dropped, which also suggests that the cryptocurrency is due for a pullback. If confirmed, the price of FARTCOIN could drop to as low as $0.41. On the other hand, this trend is likely to change if buying pressure increases. In this scenario, we could see FARTCOIN rise to $0.78.

The views and opinions expressed in this article are those of the author and do not necessarily reflect the views of Kriptokoin.com. As always, do your own research before making any investment decisions and never invest more than you can afford to lose.