With the overnight surge in the crypto market, Bitcoin bounces back above $61K, and Ethereum is on the verge of hitting $2700. With a boost in top coins, the crypto market surpasses the $2T market cap and increases investors’ risk appetite. This is evident with the surge in meme coins and other community-based segments. So, let’s take a quick look at the top 5 meme coins you must buy as the market recovers to make massive returns.
Top 5 Meme Coins To Buy: Dogecoin (DOGE)
As the segment leader and the OG meme coin, Dogecoin is where it all started. Ranking amongst the top 10 cryptocurrencies per market cap, DOGE trades at $0.1055 and has a market cap of $15.34B.
Rising from a long-coming support trendline, DOGE starts a bull run in a falling wedge pattern. With a morning star pattern, the meme coin reclaims the $0.10 psychological mark and makes a bullish engulfing candle of 12% long.
With increased breakout chances, Dogecoin can reach $0.27, a 160% surge from the current market price.
Shiba Inu (SHIB)
Shiba Inu, the second biggest meme coin, clearly outlines a falling channel pattern and faces a pullback testing the crucial support trendline. However, a strong rejection from the $0.00010 psychological level saw buyers stepping in to assert control.
With the broader market recovery, SHIB bounces back with a bullish engulfing candle, spiking 11% intraday. Currently, the meme coin trades at $0.00001410, experiencing a slight retracement of 1.54% after last night’s rally.
According to Fibonacci levels, breaking through the overhead trendline is the key to a sustained upward movement. A successful breakout could signal a significant price run, with bulls eyeing the 50% Fibonacci level at $0.000022 or even the 61.80% level at $0.000030 if the momentum continues.
BONK (BONK)
As meme coins lead the charge in the crypto bull run, BONK, a Solana-based contender, is quickly becoming a favorite. Boasting a market cap of $1.429 billion, BONK has seen a meteoric rise since its launch.
On the daily chart, BONK has weathered the recent market downturn, with buyers firmly holding the line at a key support trendline. Now, as the bull cycle gains traction, a breakout above the overhead resistance could propel the meme coin price to $0.000042, signaling a significant move upward.
PEPE (PEPE)
PEPE, the biggest frog-themed meme coin, shows an exponential bull run since inception. With a year-to-date growth of almost 600%, PEPE maintains a strong bullish ground.
However, the recent correction became intense, with the loss of $0.000010 in psychological support and the 200-day EMA. Nevertheless, PEPE’s decline found a foothold at the descending support trendline.
As the broader market begins to rebound, meme coins like PEPE are regaining momentum. With an intraday gain of 18.96% forming a bullish engulfing candle, the meme coin prepares a high-momentum bull cycle for a trend reversal.
The uptrend may soon challenge the overhead trendline at $0.00001047. A bullish breakout above this psychological level and the resistance trendline could trigger a rally to $0.0000166.
Dogwifhat (WIF)
Dogwifhat (WIF) navigates a bearish path trend in the daily chart as it forms a bearish wedge pattern. The bearish sentiment influences an intense correction; however, the bullish dominance at $1.26 results in a quick reversal.
The meme coin shows a triple white soldier pattern, resulting in a price jump fo 51% and ready to surpass the $2 mark.
As the bullish momentum gathers steam, a breakout could propel WIF toward the $3.40 mark. Thus, the meme coin offers an impressive upside potential of 103% in the coming weeks.
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