Meme coins performed well during the weekend as most investors bought them amid the ongoing greed sentiment. Pepe price was up by over 20%, while other popular ones like Floki, Dogwifhat, Bonk, and Popcat rose by double digits. So, will these coins continue doing well in the coming weeks?
Pepe price forecast
Pepe, the third-biggest meme coin in the industry, had a great performance this weekend as it made a strong bullish breakout. It jumped to a high of $0.00002685, a record high.
Moving to that level was important because it crossed the important resistance level at $0.00002567, its highest level on November 14. It invalidated the double-top pattern that was forming, and whose neckline was at $0.00001730. That price was a few points above the 38.2% Fibonacci Retracement level.
Pepe has remained above the 50-day and 100-day Exponential Moving Averages (EMA). Also, oscillators like the Relative Strength Index (RSI) and the MACD have all pointed upwards. It also formed a cup and handle pattern, a popular bullish sign.
Therefore, the coin’s path of least resistance is bullish, with the next point to watch being $0.000035. The stop-loss of this trade will be at the 23.6% retracement level at $0.0000210.
PEPE chart by TradingView
Floki price analysis
The daily chart shows that the FLOKI token has done well in the past few weeks. After bottoming at $0.00009857 in August, the coin has rallied to $0.00026, its highest level since November 23.
Floki has bounced back above the key support at $0.00021, its highest swing on July 22 and the neckline of a double-top pattern at $0.0002880. It has also formed a golden cross pattern as the 50-day and 200-day Exponential Moving Averages (EMA) crossed each other.
A golden cross is one of the most bullish patterns in the market. Also, the MACD and the RSI have all pointed upwards. The coin is also a few points below the 23.6% retracement point.
Therefore, in this case, more gains will be confirmed if the coin rallies above the key resistance level at $0.00028, the upper side of the double-top. Such a move will lead to more gains to $0.0003478.
Dogwifhat price analysis
WIF, the biggest meme coin in Solana ecosystem, has done well this year as it jumped by over 4,200% from its lowest point in January. This growth has pushed its market cap to over $3.8 billion.
Dogwifhat price jumped to a high of $4 on Saturday as the meme coin season gained steam. It has moved above the key support levels at $2.87 (upper side of the cup and handle).
WIF price has moved above the Ichimoku cloud indicator, while all oscillators have pointed upwards. Therefore, the coin will likely continue rising as bulls target the next point at $4.73, its highest level in November.
WIF chart by TradingView
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