The crypto market is on the verge of a significant recovery phase, with meme coins leading the charge. As the market sentiment improves, thanks in part to the upcoming listing of Ethereum ETFs on June 22nd, there's a noticeable increase in bullish momentum. This surge is fueling a FOMO (Fear of Missing Out) rally, making meme coins the center of attention.
The Rise of Meme Coins
Meme coins, initially created as a joke or parody, have evolved into a significant component of the cryptocurrency landscape. Their whimsical origins haven't stopped them from gaining substantial market value and a dedicated following. The current market sentiment is highly optimistic, and the FOMO effect is in full swing as investors rush to capitalize on potential gains.
Top Trending Meme Coins
Several meme coins are trending and showing promise for significant gains. Let's delve into the top meme coins likely to witness high momentum rallies in the coming days.
MOG (MOG)
The MOG coin is experiencing a bullish trend, with its price continuing to rise after a breakout from a rising channel. A successful retest has set the stage for further gains. Recently, the coin saw a 16% surge, forming a bullish engulfing candle. Technical indicators like the MACD and signal lines, along with the 50-day EMA, are all pointing towards continued upward momentum. Currently trading at $0.0000021, MOG shows an intraday pullback of 3.15%. Optimistically, the bull run could propel the price to $0.0000030 before targeting the $0.0000050 psychological milestone.
PEPE (PEPE)
PEPE is another meme coin making waves with its impressive performance. Known for its rapid rise to fame, PEPE recently broke out of a pullback channel, overcoming the 50-day EMA and bouncing back from the 200-day EMA. The coin exhibited a morning star pattern and surged 9% last night. With the current price at $0.0000122, PEPE is poised to challenge the 50% trend-based Fibonacci level at $0.00001429. The formation of an inverted head and shoulders pattern with a neckline at $0.00001286 indicates a potential rise to $0.000020, based on trend-based Fibonacci levels.
Dogwifhat (WIF)
Similar to other top-trending meme coins, Dogwifhat (WIF) is recovering from a recent pullback phase and is showing signs of a breakout rally ready to gain traction. With a 4.29% surge, the WIF price has increased by 65% over the past ten days and is now approaching the $2.50 psychological level. The trendline breakout rally has surpassed the 50-day EMA, and the double bottom reversal from $1.47 has broken the neckline at $2.25. This breakout rally suggests that the WIF price could soon challenge the 50% trend-based Fibonacci level at $3.62.
FLOKI (FLOKI)
FLOKI is gaining momentum with a double bottom reversal pattern in the broader market. The coin has surpassed the 50-day EMA and the 38.20% Fibonacci level. A bullish crossover between the MACD and the signal line indicates further gains as FLOKI heads towards the 50% retracement level. With improving market conditions, the FLOKI price could hit the $0.00032 mark, and an optimistic breakout rally could push it to $0.00041 or even $0.00050.
Bonk (BONK)
Bonk has been on an impressive run, increasing by 50% within a fortnight after reversing from a strong trendline on the daily chart. The bull run has surpassed the 50-day EMA and is challenging the 50% Fibonacci level at $0.00003217 with a massive bullish engulfing candle. As the bull run picks up pace, Bonk's higher high formation coupled with increased trading volume could push the price to $0.000055. For a new all-time high, the Fibonacci level reveals a target at $0.00008321 or the 1.618 Fib level.
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