As we reported at Kriptokoin.com , there has been a remarkable movement in the memecoin market recently. Popular tokens such as PEPE and FLOKI are regaining investor interest. In addition, both tokens have formed a bull flag formation on their charts. This technical indicator usually heralds an upward movement. This situation increases the possibility of a new rally and mobilizes investors.
Memecoin Price Breakout Signals
PEPE’s price is currently trading at $0.00001124. The bull flag formation seen on the charts signals a strong trend continuation. The upper resistance level of this formation is around $0.00001200. If this level is broken, the price is likely to reach new highs. After this breakout, analysts predict that the memecoin price could rise to $0.00001350 or even $0.000017547. This potential rise represents a gain of 59%.
However, the support level at $0.00001050 is of great importance for this rise. In the event of a possible pullback, this support level will create a ground for the price to recover. PEPE’s 29.54% gain in the last month shows that investor interest is still strong.
FLOKI’s Future Looks Bright
Floki Inu (FLOKI) is also drawing attention. Memecoin is trading at $0.00001451 and a bull flag formation has formed. If FLOKI can continue its upward movement, it will first test the resistance at $0.00001500. A break above this level will further whet investors’ appetite. Analysts also state that the FLOKI price could rise to $0.00001800 or even $0.00003500 after this breakout.
The support level stands out as $0.00001400. Even if there is a pullback at this level, it could offer a recovery opportunity for investors. FLOKI’s weekly gains of 3.72% and monthly gains of 11.28% show that investors’ interest continues.
Memecoin Rally: DOGE and SHIB Also on the Rise
Apart from FLOKI and PEPE, other memecoins are also on the rise. Dogecoin (DOGE) and Shiba Inu (SHIB) have gained 8.10% and 6.99% on a weekly basis, respectively. However, PEPE and FLOKI stand out with more pronounced bullish formations, suggesting that a potential memecoin rally could be led by these two tokens.
Technical indicators indicate that the power of buyers is increasing in the market. Especially for FLOKI, indicators such as MFI and CMF indicate an upward movement of the price. This week, we may witness new highs in the memecoin market.
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