Price Analysis

Memecoins Breaks Out of Range: Here’s What’s Next for WIF, PEPE, FLOKI, & BOME Prices

No sooner than the Bitcoin price demonstrated a bullish rebound, the markets flipped into a bullish favour. Memecoins also gained immense strength as the popular ones surged with double-digit gains. However, the top memecoins like Dogecoin & Shiba Inu struggle to gain traders’ attention, while others like PEPE, WIF, FLOKI, BOME, BRETT, etc and many more are displaying immense strength. Here’s what’s next for these memecoins. 

Pepe (PEPE) 

  • The PEPE price has been maintaining a steep ascending trend since the beginning and seems to be following a pattern
  • The price broke from the descending consolidation within an ascending parallel channel and rose high to mark a new high
  • The token has formed a similar pattern and surged above the descending trend line, which may trigger a fresh bull run towards a new ATH at $0.000025
  • However, the sluggish RSI suggests the token could consolidate for another couple of days, which may further initiate a fresh ascending trend

dogwifhat (WIF) 

  • The dogwifhat price slumped below the crucial support zone between $2.1 and $2.27 and reclaimed the levels 
  • The volume also has slashed down but has remained within the bullish range, suggesting the trend could remain elevated for a few more days
  • The RSI remains elevated after rebounding from the interim lows, indicating the beginning of a fresh bullish spell
  • Therefore, the price is expected to break from the support-turned-to-resistance zone and reach $3, aiming to form a new ATH close to $5 by the end of Q3 2024

FLOKI (FLOKI) 

  • After a steep downfall, the FLOKI price is consolidating within a narrow range, preventing extra losses 
  • Meanwhile, it also resembles the previous pattern, which led to a 150% rise after the consolidation, resulting in the formation of a new ATH at $0.00035
  • The price appears to be at the foothill of an explosion and hence the token is expected to initiate a fresh bull run to reclaim the levels around the ATH 
  • However, the FLOKI price may trade within range-bound for a while and test the lower support of the channel, which may attract the bulls to begin a new bullish spell

BOOK OF MEME (BOME) 

  • Similar to the other memecoins, the BOME price is also demonstrating massive strength as the levels rebound after holding the lower support zone
  • The extended wicks at the bottoms display the strength of the bulls, which may offer a strong base for the token in the coming days
  • Although the volume slashed hard and remained below the average, the BOME price has managed to gain the bull’s attention, restricting the bearish activity
  • Therefore, the BOME price is expected to rise along the ascending trend line and reclaim the crucial resistance at $0.015 shortly.

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