5 Meme Coins to Watch in February: TOSHI, DOGE, PEPE, FLOKI, FARTCOIN

January was a highly volatile month, with many top meme coins facing heavy selling pressure amid broader market bearishness. However, a select few defied the trend and saw significant gains. As February begins, investors are eager to understand what's next for these tokens.

As January comes to a close, several meme coins have shown remarkable resilience and strength despite the broader market bearishness. While many top meme coins faced heavy selling pressure, a select few managed to buck the trend and deliver significant gains to the delight of investors.

BeInCrypto has identified five meme coins for investors to watch and analyzed their potential trajectories in February.

Toshi (TOSHI) soared by 838% in January, reaching a new all-time high of $0.00211. This impressive rally highlighted strong investor interest, placing the altcoin among the most volatile yet promising assets in the meme coin sector.

After testing the $0.001289 level as resistance earlier this month, TOSHI is now attempting to establish it as a support floor. If successful, this move could reignite bullish momentum, propelling the meme coin back toward its ATH and potentially even higher.

If this scenario plays out, it would provide an excellent opportunity for investors to re-enter the market or adjust their positions to capitalize on TOSHI’s upward move. However, if the meme coin fails to reclaim and flip this level, it could trigger a deeper correction.

In such a scenario, TOSHI might experience a steeper decline toward the $0.00057 support zone. If this critical level fails to hold, it could lead to further losses, wiping out a significant portion of its recent gains and delaying any potential recovery.

Dogecoin (DOGE), the leading meme coin, is currently facing bearish pressure as it broke down from a trendline, a technical formation often associated with trend reversals. This price action suggests that DOGE might be poised for a 20% drop, targeting $0.264.

The pattern suggests that if Dogecoin fails to hold the $0.295 support level, it could experience a deeper decline. A breakdown below this threshold would likely confirm the bearish scenario and could lead to further selling pressure.

Thus, investors might want to watch these levels closely if they wish to exit before losses mount. However, if Dogecoin manages to flip $0.328 into a support floor, it could regain momentum.

A move above $0.360 would invalidate the bearish outlook and indicate a potential recovery, attracting renewed investor confidence and setting the stage for a possible bullish breakout.

Pepe (PEPE) extended its ongoing downtrend, testing the trend line as support before eventually breaking below it this week. The meme coin’s decline totals 20%, reinforcing bearish sentiment.

This price action has raised concerns among investors about whether the cryptocurrency can stabilize and begin a potential recovery. However, PEPE is up 10% today, currently trading at $0.00001146.

The upside to this scenario is that the meme coin has likely hit its local bottom, suggesting limited downside risk. If this holds, PEPE could see an upward move, making it an attractive entry point for traders.

To confirm a recovery, PEPE must secure $0.00001369 as a support level. Successfully doing so would strengthen its bullish case.

However, if it loses the $0.00001146 support, further declines could follow, potentially invalidating the optimistic outlook and extending the correction phase.

Floki (FLOKI) remains in a persistent downtrend, like PEPE, struggling to stay above its trend line. Currently trading at $0.000123, the meme coin has declined nearly 40% over the past month.

Historically, FLOKI has bounced back after testing the $0.000110 support level, triggering recoveries. A confirmation of bullish momentum would require the meme coin to flip $0.000132 into a support floor.

Reclaiming this level could attract renewed interest, pushing the price higher in the short term. However, if the downtrend continues and FLOKI loses its $0.000110 support, the situation could worsen.

A further decline below $0.000100 would invalidate the bullish outlook and extend investor losses, signaling a deeper correction in the meme coin's price action.

Fartcoin (FARTCOIN) has lived up to investors’ expectations by reaching an all-time high (ATH) of $2.74 but also disappointed them with a 52% decline over the last ten days. The meme coin’s extreme volatility has raised concerns about its ability to sustain upward momentum amid market-wide uncertainty.

Despite the sharp correction, FARTCOIN is holding above the critical support level of $0.69, which has historically prevented deeper drawdowns. If this support holds, the meme coin could regain momentum, reclaiming $1.54 as support and making another attempt to reach its ATH of $2.74 and beyond.