The cryptocurrency market has shown strong upward momentum as the price of Bitcoin (BTC) dropped from $49,000 to the $60,000 mark on August 5. This rapid recovery has sparked bullish sentiment across the market, especially among altcoins and memecoins. Among the top contenders, Pepe (PEPE), Dogwifhat (WIF), and Bonk (BONK) are trading at critical levels that could see a breakout or breakdown at any time.
PEPE
Pepe is the third-highest memecoin by market cap, currently trading at $0.0000078 with a market cap of $3.29 billion. The price has formed a descending triangle pattern, finding solid support around $0.0000070. PEPE’s next move is crucial; if it can break above the resistance trendline, we could see it reach an average price of $0.0000097 — about 24% higher than current levels. This pattern suggests that PEPE could be preparing for a bullish breakout.
Dogwifhat（WIF）
Bonk（BONK）
Solana-based memecoin Bonk is currently trading at $0.000018 with a market cap of $1.29 billion. Unlike PEPE and WIF, BONK has formed a symmetrical triangle pattern, suggesting a more neutral stance. However, it has found support at $0.000017. The next key level to watch is resistance at $0.000023, which represents a potential gain of 27%. If BONK can break out of this pattern, it could join the broader memecoin rally.
What's next?
Analyzing the charts, it is clear that these memecoins are on the verge of major moves. These patterns suggest that a bullish rally could be in the future, but in the world of cryptocurrency, nothing is guaranteed. The market is highly volatile and sudden changes can occur at any time.
