News, Price Analysis

Memecoin Mania: PEPE and FLOKI Price Predicted to Hit New Highs

The crypto market rejoiced in 2024 as the year brought the industry back to its feet. Despite a recent slump, the year has been a lifesaver for cryptocurrencies. Following ETH ETFs’ approval, Ethereum and memecoins have seen significant price surges, with memecoins rallying over the past week. 

Memecoins Rally

The SEC’s green-lighting of eight spot Ether exchange-traded funds, with firms like BlackRock, Grayscale, and Fidelity among the filers, has catalyzed this rally. Interestingly, as Ethereum buyers struggle to push Ether’s price beyond $3,950, the meme coin market is booming. Leading coins like Pepe (PEPE), Floki Inu (FLOKI), and Turbo (TURBO) have driven the meme coin market up by over 4% in the past 24 hours, reaching about $66 billion with a daily trading volume close to $9 billion.

Here’s one analyst who has picked the top two meme coins to invest in 2024.

PEPE is not over Yet

Pseudonymous analyst Bluntz shared his top memecoin picks on X. He highlighted Pepe (PEPE), noting it still has potential for growth despite a 140% surge this month. PEPE, a promising meme crypto on Ethereum, has gained 221.45% in value over the past year. It ranks 12th in trading volume and 30th in market cap at $3.59 billion. Bluntz predicts PEPE could reach $0.000028, a 75% increase from its current value of $0.000016.

FLOKI on a Rise

Next, the analyst is optimistic about the meme token Floki (FLOKI). Although FLOKI is not performing as well as PEPE, it is ranked 42nd among the top cryptocurrencies based on volume. With a market cap of $1.7 billion, FLOKI holds the 56th spot in the market. Bluntz compares FLOKI’s current state to the pre-PEPE all-time high vibes, predicting a new high of $0.00044. Currently, FLOKI is trading at $0.000294, indicating strong growth potential.

Ethereum’s Outlook

In addition to memecoins, Analysts is interested in Ethereum’s performance, particularly its trading pair with Bitcoin (ETH/BTC). The analyst foresees a short-term dip below 0.052 BTC ($3,553) before a breakout and rally to 0.06 BTC ($4,100). This prediction aligns with the Elliott Wave theory, which anticipates a correction following a five-wave surge. 

ETH/BTC is currently trading at 0.05625 BTC ($3,842). 

Bluntz sees a bearish divergence, implying momentum loss before the expected dip and recovery.

Conclusion

The crypto market is experiencing significant movements, particularly among Ethereum and memecoins like PEPE and FLOKI. Analysts predict these trends to continue, with new all-time highs on the horizon for the highlighted memecoins.

What is your favorite meme pick? Tell us.

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