Top 3 Memecoins to Watch This Week: Will PEPE's Next Breakout Spark a Rally?

Three Memecoins to Watch for Potential Gains This Week

Date: Sun, Sept 15, 2024, 02:08 PM GMT

The cryptocurrency market has experienced a surge in positive momentum this past week. Bitcoin (BTC) breached the $60K barrier, rising 10.99% in just 7 days, boosting optimism across the market. Following Bitcoin's rally, memecoins have also enjoyed a surge, with the total memecoins market cap climbing from $35 billion to $39 billion within the same period.

Three memecoins particularly poised for impressive gains in the coming days are:

1. Pepe (PEPE)

Pepe (PEPE) currently ranks as the third-largest memecoin by market cap. It has recently gained 12.89% in the past week. With an RSI of 49 and an RSI-based moving average (MA) of 47, PEPE is approaching a critical point on the downtrend line of a falling wedge pattern. This technical formation typically indicates a potential breakout. If PEPE surpasses this level, it could trigger a rally, with price targets of $0.0000093 and $0.00001198. This could lead to a potential 50% surge from its current price.

2. Dogwifhat (WIF)

Dogwifhat (WIF) is another promising memecoin. Currently trading at $1.57, it recently rebounded from a key support level of $1.41 within a descending triangle pattern. With an RSI of 47 and an RSI-based MA of 46, WIF could potentially break the trendline and reach $1.96, representing a 20% upside, if momentum persists.

3. Bonk (BONK)

Bonk, the Solana-based memecoin, is currently trading at $0.00001706. It has found support at the $0.00001526 level within a symmetrical triangle pattern, which often suggests consolidation prior to a breakout. With an RSI of 43 and an RSI-based MA of 38, if Bonk crosses the $0.00001929 resistance, it could witness an 11% increase from its current price.

These memecoins exhibit strong potential for gains. Particularly, keep an eye on PEPE's potential breakout, which could initiate another rally in the memecoin market.

Disclaimer: Before making any investment decisions, it is imperative to conduct thorough research and be aware of the inherent risks associated with trading speculative assets. While potential gains can be enticing, so are the risks. Stay informed and trade prudently.