November proved to be a turning point for the cryptocurrency market, with memecoins emerging as one of the best-performing assets. Over the past four weeks, many of these assets have made major moves, outperforming major altcoins.
Thus, BeInCrypto analyzed five memecoins that are showing signs of potential to become one of the best performers in the month of December.
Department of Government Efficiency (DOGE(GOV))
DOGE (GOV) hit an all-time high (ATH) of $0.545 in November, driven by growing interest in the US Presidential Elections. The excitement surrounding political conditions and the involvement of key figures created a strong momentum for the meme cryptocurrency. However, some analysts suggest that the asset may not have reached its peak yet.
With Donald Trump expected to return in January, along with his announcement of the Elon Musk-led Department of Government Efficiency, the push for DOGE(GOV) could intensify.
Musk's influence, combined with Trump's support, creates a unique synergy that could take memecoin to unprecedented heights. This connection could further fuel the current upside potential.
DOGE(GOV) Price Analysis. Source: TradingView
Given the rapid growth of DOGE(GOV) and a 46% increase in value in 24 hours, the cryptocurrency is likely to reach a new ATH by December. If this momentum continues, a rally towards the $1 mark appears achievable.
Bonk (BONK)
BONK reached an all-time high (ATH) of $0.00006230 earlier this month before experiencing a drop to $0.00004607. Such fluctuation is common for memecoins, reflecting high volatility over short periods. Despite the drop, the asset continues to have significant potential as market conditions change.
As a Solana-based memecoin, BONK is poised to benefit from the excitement surrounding SOL ETFs. Given its connection to the Solana ecosystem, any positive movement for SOL could trigger a price rally for BONK.
BONK Price Analysis. Source: TradingView
Currently, the meme cryptocurrency is facing resistance at $0.00004736. Failure to break this barrier could trigger a price pullback, halting any bullish momentum. Failure to break above this level could hamper its attempt to form a new ATH, with potential downside risks.
Peanut (PNU)
PNUT has emerged as one of the best-performing crypto assets this month, surging an impressive 1,416% in just one week. The memecoin hit an all-time high (ATH) of $2.50, capturing significant investor attention.
It is currently trading at $1.24, holding above the critical support of $1.06. This support level is essential to maintain the cryptocurrency’s upward trajectory. As long as it remains above this threshold, PNUT will likely avoid a significant drop, preserving its bullish momentum for the foreseeable future.
PNUT Price Analysis. Source: TradingView
The continued strength of PNUT’s uptrend in November suggests that the price could move higher. However, if the support at $1.06 is lost, the outlook could turn negative. In this case, the price could drop to $0.44, invalidating the current bullish scenario and changing the market sentiment.
Act 1: The AI Prophecy (ACT)
ACT is positioned at the intersection of two growing sectors in the cryptocurrency market — Artificial Intelligence (AI) and memecoins. This unique combination gives the asset a distinct advantage as it attracts investors looking to capitalize on both technological innovation and the viral nature of meme-driven assets.
The token’s performance has already demonstrated the potential of its dual-sector strategy. In early November, it surged 3,044% in a week. In the last 24 hours, it has experienced a 66% increase in price, showing its volatility and the high reward potential that often accompanies memecoins tied to trending technologies like AI.
ACT Price Analysis. Source: TradingView
As ACT approaches its all-time high (ATH) of $0.95, the coin faces an important threshold. If it manages to break above this resistance, it could surpass $1, fueling further gains.
However, if profit-taking begins to dominate, the price could fall below the critical support at $0.44, potentially invalidating the current bullish outlook.
Baby (BABY)
PEPE saw an unexpected surge in November, rising nearly 84% in just 48 hours. This rapid increase helped the memecoin reach an all-time high (ATH) of $0.00002597, surprising investors and sparking new interest in the memecoin.
Currently trading at $0.00002091, the price has found support above the $0.00001677 level. This support is crucial to maintaining its bullish momentum. If the price falls below this level, it could signal significant losses for investors, leading to a shift in market sentiment and potentially further declines.
PEPE Price Analysis. Source: TradingView
If PEPE continues to rally, it could capitalize on the current hype. This continued interest could push the price back to its ATH.
The article 5 memecoins to keep an eye on in December appeared first on BeInCrypto Brasil.
