Meme coins are continuing to observe bullishness in a market which is cooling down following the recent rise. Leading the joke tokens was ConstitutionDAO as it posted a 56% rise.
BeInCrypto has analysed two more such meme coins for investors to watch and the direction in which they are heading.
PEOPLE price surged 56% today, making it one of the top-performing tokens. Trading at $0.035, PEOPLE is working to secure $0.031 as a critical support level. This rise highlights increased investor interest and could signal more positive movement if the support level holds strong in the coming days.
Securing $0.031 as support is essential for the meme coin to maintain its bullish momentum. If the token can successfully hold above this level, it has the potential to continue rising. The next target would be $0.041, which could attract more buying pressure and strengthen its position in the market.
If PEOPLE fails to secure $0.031 as support, the altcoin may experience a decline. Increased selling pressure or profit-taking could drive the price lower, possibly reaching $0.023. Such a drop would invalidate the current bullish outlook, affecting investor sentiment and potentially leading to further losses.
BOME resurfaced this week, showing impressive growth with a 25% rise in the last 24 hours. The meme coin is currently trading at $0.0028 and is facing a key resistance at $0.0033. The price action suggests potential for further upward movement, but this resistance could hinder continued gains.
Despite the recent surge, BOME’s bullish momentum seems to be losing strength. The token appears to be consolidating between $0.0033 and $0.0023, which could limit price movement in the short term. A lack of buying pressure could stall its rally, causing it to remain in this range for now.
If broader market conditions remain positive, BOME may break through the $0.0033 resistance. This could trigger a further rally, pushing the price toward $0.0040. Such a move would invalidate the bearish outlook and attract more investors, strengthening its position in the market.
ELON is currently trading at $0.0000001757, just below the resistance level of $0.0000001781. The meme coin is tracking broader market trends, but it is showing positive signs with a growing number of holders. As of now, the total number of ELON holders stands at 162,419, indicating increasing investor interest.
ELON has demonstrated strong performance in the past, earning its place as a reliable token. To reach its target of $0.0000002075, the coin needs to flip the $0.0000001781 resistance into support. Securing this level would pave the way for further upward movement and attract more investors to the token.
If ELON fails to secure $0.0000001781 in support, it may experience a reversal. A drop below $0.0000001627 could lead to a further decline, potentially reaching $0.0000001402. This would invalidate the current bullish thesis and shift market sentiment away from the meme coin.
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