Meme coins followed Bitcoin’s footsteps as the crypto king hit $105,000 today. Leading the joke tokens was Pippin, a rather small cap coin but registering over 94% rise in the span of 24 hours.
BeInCrypto has analysed two other meme coins for investors to watch today and the direction in which they are heading.
MOODENG price surged by 95% over the last 24 hours, making it one of the best-performing meme coins. Currently trading at $0.26, the altcoin is experiencing significant bullish momentum, with investors eager to capitalize on its rapid gains. This momentum could potentially lead to further price growth.
If the bullish trend continues, MOODENG could surpass the $0.35 mark and push towards $0.50 in the near future. The altcoin’s strong performance and increasing demand suggest that it could maintain its upward trajectory if market sentiment remains positive and trading volumes remain high.
However, with MOODENG reaching a 4-month high, the meme coin faces the risk of profit-taking. Selling pressure could cause a decline below $0.24, possibly dipping to $0.18. If the downward momentum persists, the price could eventually fall to $0.12, invalidating the current bullish outlook.
WIF price has risen by 25% over the last 24 hours, trading at $1.18. The altcoin’s price movement is largely influenced by broader market cues. As the cryptocurrency market fluctuates, WIF’s performance depends on how well Bitcoin and top meme coins perform in the coming days.
If WIF follows the lead of Bitcoin and other meme coins, it could breach the resistance at $1.24 and climb toward $1.52. A rise to this level would attract new investors, significantly increasing market interest and potentially pushing the price further as momentum builds.
However, unforeseen selling from WIF holders could reverse the current trend. If selling pressure mounts, the price may fall below $1.04 and potentially reach $0.85. This could invalidate the bullish outlook and put a halt to the altcoin’s recent gains, leading to further uncertainty.
PIPPIN surged by 93% in the last 24 hours, establishing itself as a leading meme coin. With a market cap of $50 million, it is attracting significant interest from both smart money and retail investors. However, this interest is currently skewed by selling pressure, hindering further gains.
Nansen data shows $1.9 million in inflows to exchanges within the past day. PIPPIN’s low 3.13% bundle buy, which indicates the broad distribution of tokens, suggests a healthy distribution. These positive indicators could help PIPPIN breach the $0.052 resistance level, potentially pushing the price towards $0.064.
However, excessive selling could derail PIPPIN’s upward momentum. If profit-taking intensifies, the meme coin could experience a decline from $0.049 to $0.035, testing the next major support level. A drop to this level would invalidate the bullish outlook and signal a potential reversal in price.
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