In the current memecoin supercycle, not all meme tokens are performing equally. Top figures in the crypto space, such as Mercury, CBas, TraderKoz, and Altcoin Sherpa, have weighed in on the market trends, highlighting the varying fortunes of these popular digital assets.
memecoin supercyclebut not all memes are created equal.$BONK continues to rally towards range highs.$PEPE pulling back into key inflection point. looks great, just need to zoom out.$WIF looks like it wants to go for Range Lows. $DOGE sluggish/choppy. trying to breakout. pic.twitter.com/X0qHxuyM1w
— Mercury (@TraderMercury) May 18, 2024
$BONK: The Rising Star
Mercury (@TraderMercury) emphasizes $BONK’s rally towards range highs. CBas (@Crypto_CBas) shares an equally bullish sentiment, describing $BONK as “a rocket ready to take off.” He notes, “I honestly don’t see a better-looking chart in all of crypto. Many look very good, but this one just looks monstrous.” Additionally, he praises $BONK as the original meme of Solana, appreciated for its accessibility via Jupiter Exchange.
TraderKoz (@TraderKoz) marks the recent “BONK liberation day,” the end of vesting contracts that previously introduced weekly sell pressure. He points out that the chart is “already curling up,” making $BONK one of the biggest gainers of the day.
WebTrend Analytics (@WebTrendCo) reinforces this optimistic outlook, stating that every time $BONK’s price has crossed to the upside of their Trend EQ with a “squeeze” and pushed up against the top Bollinger Band, it has signaled significant rallies.
Mixed Fortunes for Other Memecoins
While $BONK enjoys a strong upward momentum, other memecoins show mixed performances. Mercury notes that $PEPE is pulling back to a key inflection point, suggesting it looks promising when viewed with a broader perspective.
Conversely, $WIF appears to be aiming for range lows, indicating potential short-term challenges. Altcoin Sherpa (@AltcoinSherpa) mentions that $WIF should find a bounce area around $2.30 and possibly again at $1.80, providing short-term opportunities for traders.
Mercury describes $DOGE as “sluggish” and “choppy,” struggling to break out convincingly. Despite this, CBas remains optimistic about established memes like $DOGE and $SHIB, highlighting their strong charts and favorable conditions for bulls. He stresses the importance of responsible betting in the volatile memecoin market, reminding followers that things can turn quickly.
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Show more +Show less – Historical Trends and Future Outlook
As previously reported by Captain Altcoin, memecoins have a history of delivering massive gains during bullish phases in the broader cryptocurrency market. Their speculative nature and dedicated community following often lead to significant price pumps.
Moreover, tha analyst’s endorsement of Floki, citing its “strong fundamentals and catalysts,” could further fuel investor interest and potentially trigger a price surge. The positive sentiment around other memecoins like Dogecoin, Shiba Inu, and Pepe could attract new investors seeking high returns.
Read also: Top Analyst Predicts Massive Price Rally for Altcoins and AI Crypto Tokens: Here’s Why
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The post BONK ‘Ready to Take Off’ as Dogecoin (DOGE), dogwifhat (WIF), and PEPE Meme Coins Lag, Eyeing Range Lows appeared first on CaptainAltcoin.
