The cryptocurrency market is once again seeing a surge in momentum, with Bitcoin stabilizing above the $63,000 mark. Notably, meme coins have been the standout performers, with some tokens even seeing triple-digit gains in their portfolios.
For those looking to invest in meme coins but unsure of which ones have the potential for future growth, this article will highlight the top 2 memecoins that could potentially outperform the leading cryptocurrencies in the coming months.
Pepe (PEPE) Price Action
Pepe has seen a 5% increase in price over the past 24 hours and a significant 11.98% jump over the past week. Despite a 7.68% correction in the last 30 days, the meme coin has delivered an impressive year-to-date return of +474.94%.
Technical indicators like the Moving Average Convergence Divergence (MACD) are displaying a consistent bullish trend in the 1-day timeframe. Additionally, the EMA 50/200-day is on the verge of a Golden Cross, signaling a bullish outlook for Pepe in the near future.
If the market pushes the price above the $0.00000880 resistance level, bulls will likely target the upper resistance level of $0.00001150. Conversely, if bears regain control, the PEPE price may retest the $0.00000625 support level.
Dogwifhat (WIF) Price Action
Despite all odds, Dogwifhat has shown strong bullish momentum, with a 12.89% increase in price in the past day. Over the past week, the memecoin has surged by approximately 25% and by 1.49% in the last month. With a YTD return of 1,161% and a market cap of $1.926 billion, Dogwifhat currently holds the 49th position.
The Relative Strength Index (RSI) indicator has surged into the overbought range in the 1-day timeframe, indicating strong buying pressure. Supported by its SMA indicator, Dogwifhat shows a high probability of positive price action in the near future.
In the event of a market rally, the Dogwifhat price could break above the $2.10 resistance level and target the high of $3.050. Conversely, a bearish reversal may see the price retreat towards the $1.240 support level in the coming weeks.
In conclusion, both Pepe and Dogwifhat have shown promising price action and strong potential for growth in the meme coin sector. Investors looking to capitalize on the meme coin craze may find these two tokens worth considering for their portfolios.