The post Memecoin Mania Reinstalled: After 25% Rise, PEPE, FLOKI, & WIF Price Eye at Another 20% Upswing This Week appeared first on Coinpedia Fintech News
As the Bitcoin price reclaimed the crucial resistance zone at $63,800, the markets, specifically the memecoin, have turned extremely bullish. After the BTC price surged from the consolidation below $60,000, the top memecoins failed to demonstrate their strength, which made the market participants uncertain and furious as the PEPE price failed to reclaim $0.00001.
However, with the latest price action, the FLOKI price bounced heavily and is leading the top performers for the day. Here’s what to expect from the Pepe, FLOKI, & dogwifhat prices throughout the week.
Pepe (PEPE) Price
Pepe’s price traded within a narrow range just below $0.00001 for nearly a week and after accumulating massive strength, triggered a fine rally. With this, the token has gained back levels within a bullish range, aiming to maintain a steep ascending trend to reach $0.000015. However, the bearish clouds also hover over the rally which may hinder the progress of the rally.
Although the price has entered the rising parallel channel, the fear of a pullback haunts the rally as it has reached the upper threshold of the Bollinger bands. Besides, the RSI is close to entering the overbought range. However, the lower support of the channel may offer a strong base, which may help the bulls to elevate the levels beyond $0.00001325. Therefore, the PEPE price rally is within the bullish limits and may reach $0.000015 during the next bullish action.
FLOKI (FLOKI) Price
The latest rebound from the lows has ended the month-long bearish trend that began following a rejection from the levels above $0.0003. The bulls have revived a strong ascending trend as the price is trying to clear the resistance at $0.0001919 after securing the levels at $0.00016. The technicals have flipped to bullish and hence the FLOKI price is believed to maintain a strong upswing to achieve the upper target above $0.0002.
Ever since the FLOKI price marked a new ATH, the token has been trading within a predetermined range. The supertrend has turned bullish, while the bulls have also restored their dominance. Hence, the price is expected to maintain a healthy upswing and enter the upper resistance zone between $0.000244 and $0.000251 without any major interruptions. However, after achieving these levels, the token may form a new ATH close to $0.0004 shortly.
dogwifhat (WIF) Price
Being a little different from the other top-traded memecoins, the WIF price is expected to maintain a horizontal consolidation as bulls seem to be lagging. After a gigantic upswing from the lows at around $1.51, the price inflated iconically to rise within the resistance zone between $2.15 and $2.27. The price is expected to consolidate within these levels as the bulls appear weak at the moment.
The WIF price continues to remain under bearish influence as the technicals remain neutral despite a 25% rise. The On-balance volume (OBV) has risen from the lows again but is not able to surpass the average levels. A drop in the levels may certainly not indicate a pullback as the MACD shows a slight rise in the buying volume. Therefore, the price is expected to hover around the resistance zone until the next bullish push escalates the levels to the descending trend line.
Once these levels are cleared, the dogwifhat price is believed to maintain a strong ascending trend to reach the upper resistance zone.
