Bonk #BONK)
Bonk ($BONK) is currently the fifth-largest meme coin, with a market capitalization of $1.65 billion. According to analysts, the asset recently broke above a descending trendline that held from late May to late September. From current levels, Bonk is expected to rally 19% to retest the 50% retracement level at $0.000030 that formed from the May high to the August low.
Looking at the Relative Strength Index (RSI), Bonk has reached overbought territory with a reading of 70. This suggests that there is enough buying pressure to sustain the bullish extension. On the other hand, a rising RSI level could also signal a potential price reversal. At press time, Bonk was up 3% in the past 24 hours and 35% in the past seven days, trading at $0.00002345.
According to analysts, the asset could drop to $0.0000181 if the price breaks below the $0.0000228 support level.
Dogwifhat ($WIF )
Dogwifhat #WIF) is currently the fourth largest meme coin in the ecosystem, with a market capitalization of $2.3 billion. According to our market data, the asset is up 39% over the past seven days and is trading at $2.37.
Interestingly, analysts believe that this rally will continue after breaking above the descending trendline and breaking above the key resistance level at $1,947. Based on our analysis, breaking above the 50% retracement level at $2,586 would push the price up another 25% to $2.89.
Looking at its market indicators, WIF’s RSI shows an overbought level of 74. This implies that traders should approach the asset with caution as a rising RSI level indicates a potential pullback. WIF could retest the $0.0000181 level if buyers fail to keep the price above the $0.0000228 level.
Floki #FLOKI)
Floki ($FLOKI) is the sixth largest meme coin with a market capitalization of $1.51 billion. Over the past seven days, the asset has increased by 19% to trade at $0.000158. According to analysts, the asset has now broken above a key resistance level and coincides with a 50% price retracement level. If Floki maintains its momentum above this level, the price could rise another 21% to $0.000188.
A drop below $0.000154 could also result in a retest of the $0.000135 low. Unlike Bonk and WIF, Floki’s RSI has dropped from 70 to 66, indicating a weakening bullish momentum. However, buyers remain strong at this level.
