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Cryptocurrency News Articles
Top 5 Meme Coins Poised for Significant Gains As We Enter August
Jul 31, 2024 at 05:16 pm
As we enter August, we might see a positive trend in the crypto market, which could be a good sign for meme coins and their potential for significant growth.
As we enter August, we might see a positive trend in the crypto market, which could be a good sign for meme coins and their potential for significant growth. We’re analyzing the Bitcoin chart, focusing on a monthly view to understand the overall market trends. Since March, when the bull trend we’ve been following started to weaken, the market has mostly moved sideways instead of declining.
Investors are eagerly anticipating a catalyst that could push the Bitcoin market past the $74,000 mark and potentially toward $85,000 or higher.
The monthly candles show mixed signals: a green candle in March, a red in April, another green in May, a red in June, and a green in July. The pattern suggests we might see a red candle in August.
This sideways movement offers an excellent opportunity for investors to consider meme coins before an anticipated surge in Bitcoin’s price.
Let’s explore some top meme coin picks that are poised for significant gains.
Brett Based (BRETT)
Brett, the biggest meme coin on the Base Blockchain, is starting to recover after a recent drop. Linked to Pepe, Brett had a significant decline last month. However, a recent 12% increase on Monday, in line with a broader market rise, boosted BRETT to the 63rd largest cryptocurrency, with a market cap over $1.28 trillion.
Despite this positive trend, BRETT is still 33.2% below its all-time high of $0.1939. Although the price has dipped slightly in the last 24 hours, technical indicators suggest this might be a temporary downturn. A possible hammer candlestick pattern at the end of the month could indicate a longer-lasting uptrend.
Brett’s chart shows a series of higher lows, suggesting bullish sentiment. This pattern, along with recent price movement, could be a good buying opportunity for investors looking ahead to the next bull market. There seems to be strong support around $0.13.
Pepe (PEPE)
PEPE, the frog-themed meme coin, has been consolidating over the past two weeks despite a broader market recovery. While the price has oscillated between gains and losses, a closer look at the technical chart reveals a potential bullish pattern forming.
An inverted head-and-shoulders pattern is emerging, a classic reversal signal often seen at market bottoms. This pattern suggests a shift in market sentiment from bearish to bullish. If the price breaks above the neckline resistance, currently at $0.0000113, it could initiate a significant upward move.
A successful breakout could propel PEPE’s price by approximately 40%, reaching a new high of $0.000018. Given its current market cap of $4.78 billion and consistent price action, PEPE could be an attractive option for investors seeking a potentially profitable coin.
Bonk (BONK)
BONK, a Solana-based meme coin, has captured the attention of investors amid the crypto market’s volatility. Recently, the token experienced a sharp decline, breaking below a crucial support level.
As BONK attempts to recover lost ground, a recent 4% price surge has sparked interest. This upward movement may be a retracement to test a critical rising wedge support level. Whether this is a temporary bounce or the beginning of a sustained recovery remains uncertain.
All eyes are now on BONK's interaction with the rising wedge support. A successful breakout could signal renewed bullish momentum, while a rejection might lead to further price declines.
Floki (FLOKI)
Floki (FLOKI) has quickly transformed from a meme coin into a successful Web3 ecosystem. It focuses on community engagement and strategic marketing, expanding to offer TokenFi for NFT and asset tokenization, an immersive P2E metaverse, a rewarding staking dApp, and a dynamic DeFi marketplace.
This expansion has made Floki a significant player in the Web3 space, highlighted by its listing on Bitstamp, a major European crypto exchange. Although a recent market downturn has temporarily affected Floki's price, currently at $0.000167, the coin is still poised for growth.
As Floki hovers around $0.00017 and aims to surpass the key $0.00021 resistance, investors are watching for market catalysts like ETH ETF inflows that could trigger the next upward move. This position sets Floki up for potential rapid growth as the market heads into its next bullish phase.
With a strong foundation, growing utility, and a dedicated community, Floki Inu offers an exciting investment opportunity for those interested in the expanding Web3 sector.
The Meme Games (MGMES)
With the 2024 Paris Olympics underway, many crypto traders are excited about a new meme coin called The Meme Games (MGMES). $MGMES has already raised over $300,00
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The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
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