Despite Bitcoin trading at $60K levels and Ethereum stuck near $3,300, the meme coins are trending and offer a massive jump. With the top meme coins making a comeback this week, these community and hype-driven coins prepare for a breakout rally.
Following the days of correction leading to bearish patterns and a prominent resistance trendline, the recent reversal teases a significant trend reversal. Considering the bull run continues in these meme coins, the high momentum uptrend can lead to a 2x surge or more in the coming weeks.
DOG (Runes) Under Wedge Prepares 71% Breakout Run
With a pullback phase making a falling wedge in the 4H chart, the DOG price chart reveals a bull cycle in motion. During the pullback phase, the DOG token price dropped by 50% within three weeks from the peak at $0.009768. As the meme coin failed to surpass the psychological mark of $0.010, the downfall took support near the $0.0050 psychological support.
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However, with a 15% recovery rally in the recent bull cycle, the uptrend is up against the trendline and the $0.005810 resistance level. With an evening star near the supply confluence, the meme coin struggles for a breakout.
Hence, a reversal within the pattern could retest the $0.0050 mark. However, with the meme coins segment on the rise, the uptrend could reach the $0.010 mark with minor resistances at $0.0066 and $0.0085.
Dog-Themed Meme Coin Floki Eyes 85% Recovery In July
As one of the top-performing meme coins, FLOKI’s price sustains a 372% YTD growth despite a broader market downfall. During the recent sell-off, the meme coin lost 50% of its market cap after the peak formation at $0.0003204.
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However, with the recent support and lower price rejection at $0.00015, the meme coin teases a rounding bottom reversal. If FLOKI price action manages to lift off from the $0.00015 support, the uptrend could challenge the 78.60% trend-based Fibonacci level at $0.00034.
Furthermore, with the uptrend and broader market recovery, the FLOKI coin price can reach a new all-time high near the $0.00050 mark.
Falling Channel In WIF Meme Coin Preps Breakout Run
With a bearish channel pattern in the daily chart, the pullback phase in the WIF price accounted for an almost 60% drop. However, in the recent bullish cycle from $1.58, the meme coin takes an 18% price jump to challenge the overhead trendline.
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With the bull cycle, the WIF price teases channel breakout and the 61.80% Fibonacci level at $2. Further, the recovery rally teases a bullish crossover in the MACD and signal lines, a potential trend reversal signal.
With the breakout run, the meme coin can reach the present all-time high of $4.58 next month. This will hint at an extended uptrend.
PEPE Reversal in Step-Down Trend Breaks Overhead Trendline
As one of the best-performing meme coins, the PEPE price forms an all-time high at $0.000017. However, with the crypto market crash, the frog-themed meme coin takes a step-down approach, making a new resistance trendline.
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However, the recent bounce back from the 50% Fibonacci level at the $0.00001080 support zone leads to a breakout. As the overhead trendline fractures, the PEPE price suggests a bullish trend reversal.
If the broader market recovers, the PEPE price breakout rally could surge to a new all-time high level with the $0.000018 breakout. Optimistically, the bull run can reach the psychological mark of $0.000020.
BONK Channel Breakout Eyes $0.000050
Like most top meme coins, the BONK price trend showcases a falling channel pattern. However, with the recent turnaround, the BONK price surpasses the overhead trendline. This reversal move starts with taking psychological support at the $0.000020 level.
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Further, the breakout event brings a bullish crossover in the MACD indicator. And the RSI line jumps from the oversold boundary. Hence, the technical indicators reveal a bullish bounce-back.
If the meme coins sustain an uptrend, the BONK price can reach the $0.000040 peak before heading to the psychological mark of $0.000050,
