The meme coin market is beginning to cool after a surge in activity throughout most of May. The past week’s broader crypto market downturn has dented overall momentum, triggering a dip in the values of top meme assets.

Still, meme coin trading volume remains up 5% over the past month, signaling that investor appetite has not vanished entirely. BeInCrypto has highlighted three standout meme coins to watch in the month ahead.

Central African Republic (CAR)

The official meme coin launched by the African nation received positive developments in May. The country’s president recently announced that the government will use CAR to tokenize 1,700 hectares of land.

As a result, CAR has experienced a notable resurgence, climbing by 103% this week alone.

As of this writing, the meme coin trades at $0.047. As CAR aims to break the $0.059 resistance, it could witness a continued upward trend if broader market conditions improve. 

CAR’s Chaikin Money Flow (CMF), which remains firmly in positive territory at 0.17 at the time of writing, reinforces the potential for a rally above this key resistance level.

The CMF indicator measures how money flows into and out of an asset. A reading above one signals strong buying pressure and indicates that capital is flowing into CAR.

If this continues, CAR could break above $0.059 and extend its gains to $0.074.

However, if profit-taking commences, the altcoin could fall to $0.345. 

Daddy Tate (DADDY)

DADDY is another meme coin to watch for possible gains in June. Up 14% over the past seven days, the altcoin currently trades at $0.039. 

Earlier this week, Andrew Tate announced the upcoming launch of Real World 2.0, his online training app. According to his statement, the app will have an integrated wallet with some utility around DADDY.

As a result, speculative interest in the meme coin is rising.

The token’s rising Balance of Power (BoP) indicates the steady rise in buying pressure among DADDY traders. As of this writing, this momentum indicator is at 0.85. 

The BOP indicator measures the strength of buyers versus sellers by comparing closing prices to trading ranges. A positive BOP value like this suggests that buyers are in control, indicating bullish momentum in the market.

If this trend continues, DADDY could extend its rally to $0.05.

Conversely, sellers could trigger a price decline toward $0.029 if they regain dominance.

SPX6900 (SPX)

SPX has bucked the past week’s broader market slowdown to post double-digit gains. Up 11% over the past week, the meme asset trades at $0.95 at press time. 

The setup of SPX’s Moving Average Convergence Divergence (MACD) on the daily chart confirms the buying pressure in its spot markets. As of this writing, the token’s MACD line (blue) rests significantly above its signal line (orange).

The MACD indicator identifies trends and momentum in an asset’s price movement. Traders use it to spot potential buy or sell signals through crossovers between the MACD and signal lines. 

As with SPX, when an asset’s MACD line is above its signal line, it indicates bullish momentum, suggesting that the asset’s price may continue to rise. Traders view this crossover as a bullish signal, supporting SPX’s ongoing rally.

If the rally persists, the meme coin could break above $1 and climb toward $1.21.

On the other hand, if buying activity stalls, SPX could shed recent gains and plunge to $0.84. 

Trading Volumes Spike, But Meme Market Retail Boom Yet to Return

While these altcoins appear poised for potential gains over the next few weeks, the general meme market may face some headwinds. In an interview with S, Community Lead at Neiro, summer months typically see a slowdown in broader market activity, and meme coins are not immune to that seasonal trend.

“It still feels early for full-blown market euphoria. Historically, summer tends to be slower across financial markets, crypto included. Whether we see a pullback is anyone’s guess, but momentum is essential, when things stop growing, they often start fading. If that momentum slows, it’s something the market should take seriously,” S noted.

S added that while the trading volumes have spiked, the meme coin market has yet to see a return to the retail mania of 2021. For now, activity remains largely driven by crypto-native investors and whales.

“So far, it looks like most of the activity is still coming from crypto-native circles. We haven’t seen the kind of mainstream retail frenzy we saw in 2021 or even 2017. That wave hasn’t hit yet—but when it does, it’s bound to bring with it the chaos, creativity, and memes we all know and love. Personally, I’m looking forward to that.”