Markets
Best Memecoins to Accumulate as Crypto Market Turns Bullish!
With the price of Bitcoin Successfully reclaiming the $67K mark, mid-cap altcoins showed a strong bullish reversal in their respective portfolios. Additionally, memecoins showed similar price action adding significant value to their respective portfolios.
Scroll down because in this article we have covered the top 2 memecoins that have the potential to dominate the memecoin craze during the upcoming cryptocurrency bull run.
Dogwifhat (WIF) Price Analysis:
Amid growing bullish sentiment, the WIF Price has seen a 6.79% jump in the last week and 29.49% in the last 30 days. Moreover, with a YTD return of 1,598% and a market capitalization of $2.591 billion, this memecoin has secured the 33rd position in the global cryptocurrency list.
TradingView: WIF/USDT
The SMA indicator has shown a bearish crossover in the D time frame. Also, the technical indicator, MACD, is showing a steady decline with its averages recording a neutral trend. This indicates a weak price action for memecoin in the market.
If the market regains momentum, WIF price will break its resistance level and head towards its upper high of $4. However, in case of a bearish action, the dogwif hat price could plummet towards the low of $2.
Bonk (BONK) Price Analysis:
The second most successful memecoin on the Solana chain, the Bonk Price It has added 22.37% to its valuation in the last 30 days and is up around 110% this year. Furthermore, this memecoin has successfully tested its important support level of $0.0000270, indicating strong bullish sentiment.
TradingView: BONK/USDT
The Relative Strength Index (RSI) has retested its midpoint and is on the verge of a bullish crossover in the 1D time frame. This suggests a high possibility of a bullish reversal in the coming weeks.
If the market holds the BONK Price above its major support level of $0.0000270, the bulls will prepare to test its upper resistance level of $0.00003390. Conversely, if the bears regain momentum, memecoin will plummet towards its low of $0.00002125.