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Is Memecoin Mania Set to Outperform Again? PEPE, FLOKI & WIF Prices Breakout, Triggering Higher Targets
The meme coin space has been witnessing a remarkable turnaround of late, with PEPE, FLOKI, and WIF showcasing an impressive recovery. This sudden surge in value could be attributed to the convergence of technical structures and on-chain accumulation, all signaling a sustained upward momentum.
To begin with, PEPE’s bearish wedge breakout aligns perfectly with whale accumulation patterns, suggesting that upside potential could exceed 75%. The RSI has also maintained an ascending trend without any deviations, indicating strong buying pressure. If the price consolidates above $0.0000095, it would open doors to retest multi-month resistance levels.
Next up is FLOKI, which saw a sharp retracement last week only to rebound strongly and reclaim its 50-day EMA. The Valhalla metaverse development has contributed significantly to this resurgence, as the asset becomes increasingly relevant in real-world use cases. Volume inflows are rising while the RSI continues to rise without any divergences. It is essential to note that a breakout above $0.00011387 might provide a strong base for further upside. The neckline of the double-bottom pattern points toward a price hike beyond $0.00016.
Lastly, WIF has reclaimed both its 50-day and 200-day EMAs, sending shockwaves through the crypto market. This trend reversal is accompanied by increased short-term supply squeezes and growing whale interest. As long as the price remains above the range between $1.056 and $1.109, we may see a correction before the upward momentum continues toward its Q2 highs near $1.80.
With PEPE, FLOKI, and WIF all demonstrating similar patterns and behaviors, it appears that the meme coin space is poised for sustained upward movement. It’s essential to keep an eye on volume continuation and rejection levels surrounding their respective resistance targets.
It remains to be seen whether this renewed optimism in the meme coin sector will translate into substantial returns or merely serve as a short-term speculative blip on the radar.
Source: coinpedia.org
