Meme coins faced a tough day today, yet small-cap token Kendu Inu stood out with strong weekly gains, capturing investor attention. Despite the broader market’s decline, these conditions still offer opportunities for users.
BeInCrypto highlights two meme coins for investors to watch as they show promising buy potential amid the downturn.
BONK price is down by 19% this week, currently trading at $0.00001893. Despite this decline, the 50-day EMA is approaching a crossover with the 200-day EMA, which could indicate a reversal in momentum. This technical pattern typically signals the potential for a rebound, provided the market conditions shift positively.
The 50-day and 200-day EMA crossover, known as the Golden Cross, could trigger an uptrend for BONK. With the broader market showing bullish tendencies, this crossover could push BONK towards $0.00002285 or even higher. The combination of technical indicators and market sentiment strengthens the outlook for recovery.
However, if uncertain investors opt to sell early, it could put downward pressure on BONK’s price. A drop below the support of $0.00001779 would indicate bearish momentum, potentially sending the price down to $0.00001548. This would invalidate the optimistic scenario and undermine the potential for a rally.
POPCAT experienced a 25% drop this week, bringing its price down to $0.429. Despite this decline, it doesn’t signal the start of a longer-term bearish trend. Rather, the current price level may present a strong entry point for potential investors looking to capitalize on a rebound.
Signs of continued growth are visible, with the Ichimoku Cloud positioned below the candlesticks, signaling bullish momentum. This technical pattern suggests that POPCAT could reclaim $0.495 as support, setting the stage for further price increases. The market conditions appear favorable for the coin’s continued upward trajectory.
However, if POPCAT fails to maintain its support at $0.416, the price may drop to $0.342. A break below this level would invalidate the bullish outlook, potentially leading to more significant losses. This downside risk highlights the importance of monitoring key support levels.
KENDU has emerged as one of the best-performing meme coins this week, gaining 99%, although the rise slowed in the last 24 hours. Holderscan data shows that over 68% of KENDU holders possess more than $10 worth of tokens, signaling strong holder confidence in the token’s future potential.
If KENDU manages to secure $0.00003063 as support, it could leverage broader market cues to push through $0.00004246, potentially reaching $0.00005042.
However, if selling pressure mounts and overwhelms the bullish sentiment, a drop below $0.00003063 could result in a fall to $0.00001919. Such a move would invalidate the bullish outlook and signal further downside potential for KENDU.
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