Meme Coins With High Returns Potential In The Next Bull Run
The post Meme Coins With High Returns Potential In The Next Bull Run appeared first on Coinpedia Fintech News
With Ethereum facing the threat of a downfall under the $3,000 mark, the altcoins could find a similar threat. Amidst such increasing pressure, the bull run in the meme coins is under threat as the selling pressure grows.
However, some meme coins are anticipated to make a quick comeback if the broader market recovers. So, let’s take a closer look at such meme coins to find out the next buying opportunity.
Meme Coins To Buy Under Correction: Popcat (POPCAT)
With a declining trend in the daily chart, the bearish trend in the POPCAT continues below the support trendline. As the downfall continues with a lower high formation, the meme coin breaks below the $0.70 mark.
Currently, the BONK price trades at $0.6584, and its market cap of $657M is down by 16% this week.
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However, the recent price surge to retest the lost $0.70 level resulted in a bullish crossover in the MACD and signal lines. Further, the bullish surge in the RSI line tests the 50% line, reflecting a boom in demand.
Considering the bull run continues, the meme coin could reclaim the lost $0.085 mark.
BONK (BONK)
With a symmetrical triangle pattern in the daily chart, the BONK price tests the support trendline. However, the lower price rejection in the recent candle teases a bounce back. Although the intraday price fall accounts for 5.84%, the buyers attempt to absorb the incoming supply.
Currently, the BONK price trades at $0.000023 with a market cap of $1.629B. Further, the meme coin is down by 17% this week.
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With a potential upcycle within the triangle pattern, the BONK price could reclaim the $0.000025 mark. If the broader market recovers, the buyers can undermine the MACD and signal lines bearish crossover.
Optimistically, the bullish breakout of the triangle pattern could surpass the 50% Fibonacci level at $0.0000342440. According to the Fibonacci levels, the uptrend in meme coin price could reach the 1.618 Fib level at $0.000063, a 170% surge from the current price.