Bitcoin (BTC) is reversing its downtrend and altcoins are following suit. However, the most volatile sector is memecoins. PEPE, WIF and FLOKI are leading the way.
The king of cryptocurrencies is of course Bitcoin (BTC/USD), which is currently trending very upwards. However, in a risk-on environment, the most explosive cryptocurrencies are usually memecoins, which is the case now.
BABY
$PEPE (PEPE/USD) is ranked#28on CoinGecko with a market cap of $4.5 billion. This is still well below $DOGE at $18.2 billion and $SHIB at $11.6 billion, but $PEPE is growing much faster than both and is definitely worth keeping an eye on.
The short-term chart above shows that $PEPE is now up 21.5% since breaking out of the downtrend line on Thursday. The price is currently facing resistance, but if it breaks through resistance, the Fibonacci levels give targets of $0.0000115 (0.5 Fib), $0.000013 (0.618 Fib), and $0.000015 (0.786 Fib). The all-time high is $0.0000172.
WIF
Since the beginning of April, the WIF price (WIF/USD) has been moving inside a descending wedge. A decisive breakout occurred on Tuesday, and since then the price has risen by 32.3% to $2.36.
As defined by Fibonacci levels, upside targets are $2.51 ($0.382), $2.96 ($0.5), $3.40 ($0.618), and $4.04 ($0.786). The all-time high is $4.84.
FLOKI
$FLOKI price (FLOKI/USD) has risen 31% since breaking out of the downtrend line and confirming it. It looks like the price may recover and test the strong horizontal support at $0.00016 before rising further.
Again according to the Fibonacci levels, the upside targets are $0.000192 at the 0.382 Fibonacci level; $0.000222 at the 0.5 Fibonacci level; $0.000252 at the 0.618 Fibonacci level; and $0.000294 at the 0.786 Fibonacci level. The all-time high is $0.000349.
