The past seven days have been exciting for the crypto market, as bitcoin continued to upgrade #ATH. despite the exhaustion of bullish momentum. The fading momentum did not affect memcoins: the scale of their rally reached 3,000%
The editorial board of BeInCrypto analyzed three memcoins, which grew significantly and at the same time updated historical highs.
Act I: The AI Prophecy (ACT)
The $ACT
cryptocurrency has become the most popular meme coin this week thanks to its recent #listing on the Binance exchange. This event triggered an unprecedented 3,000% rally in seven days.
Currently, the ACT has rolled back from the recently reached new historical high of $0.95. Altcoin has formed a strong support level at $0.60. This signals potential stability against the background of continued momentum, if favorable market conditions persist.
However, the ACT rally caused by the HYPE makes it vulnerable to correction. If investors prefer to lock in profits, the coin may lose support at $0.60 and drop to $0.44. This will cast doubt on recent achievements and raise concerns about sustainable growth.
Peanut the Squirrel (PNUT)
$PNUT
has become one of the most dynamically developing memcoins, soaring by an impressive 1,579% over the past week. Thanks to this rally, the coin entered the top hundred cryptocurrencies and attracted significant attention from investors and analysts.
PNUT has set several historical highs this week, the last of which was recorded at $2.50. If the bullish momentum continues, the token could continue to climb, potentially establishing new ATH and further strengthening its position in the market.
However, if PNUT loses the critical support level of $1.69, it can expect a significant correction. It may lead to a decrease in the price to $ 0.44, which will cancel the current "bullish" forecasts.
Department Of Government Efficiency [DOGE(GOV)]
Over the past week, the price of DOGE(GOV) has increased by 244% and reached a historic high of $0.545. After a slight correction, investor sentiment shows mixed signals regarding the short-term price trajectory.
Altcoin maintains support at $0.161, providing insurance against a possible profit-taking. However, if the selling pressure increases, DOGE(GOV) could drop sharply, potentially to $0.049. Such a drop would negate most of the recent gains and strengthen the bearish momentum.
On the other hand, if DOGE(GOV) holds above the $0.161 support level, it will be able to restore upward momentum. Successful consolidation at this level may allow memcoin to return to the historical maximum of $0.545. This will refute the bearish forecasts and open the way for further growth.