With the downtrend in Bitcoin breaking on the daily charts, we witnessed a significant uptick in the market. Among the projects that fueled this rise, "Meme Coins" stood out the most. Upon examining the charts of meme coins, I noticed significant similarities. Therefore, I believe that the upcoming week could be a week for meme coins. Let's take a look at DOGE, PEPE, and WIF in order.
Dogecoin DOGE
The cryptocurrency market's most valuable project in terms of market capitalization, Dogecoin (DOGE), has been showing significant growth for the past 3 days. Upon examining the chart, you can see that DOGE has experienced a significant breakout from a downtrend on the daily timeframe. Typically, after such downtrend breakouts, a sharp uptrend follows. I expect a similar movement in DOGE. In the medium term, I believe its target level is around $0.30 USDT.
Pepe PEPE
Next up is PEPE, my favorite meme coin project in the cryptocurrency market. PEPE has recently retested the breakout from its previous downtrend. Upon examining the daily chart, we can see that it is in the process of forming an upward trend. For this trend to materialize, I expect it to experience a pullback to the red support zone first. After that, we can anticipate a target price of $0.000014 USDT.
Dogwifhat WIF
Next up is the rising star of Solana, dogwifhat (WIF). Upon examining the WIF chart, we can see a strong uptrend following the breakout of the downtrend. For this uptrend to continue, the broken resistance zones need to act as support. Therefore, after the retracement to the green zone marked with the arrow, I anticipate a strong upward movement. In the medium term, we can expect a target price of $5.5 USDT for WIF.
I haven't examined all meme projects to keep the article from getting too lengthy. However, it's possible to observe similar price movements in many of them. Therefore, as I mentioned in the title, we are entering an important week. Whether the rise happens this week or not, I believe meme projects will reach significant levels in the next 6 months. Hence, while we may be wrong in the short term, I believe we will be proven right in the longer term.