Big memecoin bounce from $PEPE, $WIF, and $TRUMP

Memecoins Surge as Bitcoin Bounces

Following Bitcoin's (BTC) recent descent to $58,400 on Monday, a recovery has occurred on Tuesday, unleashing a surge in memecoins. $PEPE, $WIF, and $TRUMP have exhibited significant upward momentum.

While the BTC rally may not be sustained, memecoins are currently capitalizing on the temporary reprieve.

$PEPE Maintains Bullish Trend

Pepe ($PEPE) ranks as the largest memecoin by market capitalization outside of Dogecoin and Shiba Inu. As the gateway for newcomers to the memecoin realm, $PEPE has garnered substantial attention.

$WIF's 48-Hour Spike

Dog Wif Hat ($WIF) has emerged as a standout performer among memecoin newcomers. Despite a recent downturn from its $4 high, the past two days have witnessed a 30% surge, propelling the price above the 0.786 Fibonacci level. A breakout of the downtrend line could drive the price further upwards towards $2.50.

$TRUMP Outperforms in Recent Days

Of the three memecoins discussed, $TRUMP has demonstrated the strongest performance over the past 48 hours. From a low of $6.50 two days ago, $TRUMP has rallied 40% to its current value of $9. The 0.618 Fibonacci level at $9 presents a resistance point that requires a daily candle close and confirmation to be overcome for further gains. Beyond this, $12.38 serves as the next potential target.

Caution Advised

Investments in memecoins should be approached with extreme prudence, as their value remains heavily dependent on the sustained positive performance of BTC. The current BTC recovery warrants caution, as a potential retest of the $61,500 resistance level could trigger further declines in both BTC and altcoins.

Disclaimer:

This information is solely for educational purposes and does not constitute financial or investment advice.