With the Bitcoin price crashing under the $58,000 support level, the altcoin market is on fire. Amongst the altcoins, the meme coins have taken a massive hit, with the top coins crashing to their crucial support levels.
With a market cap of $38.46 billion and a volume of $3.11 billion, the segment has more than doubled compared to last year’s $15 billion cap.
Further, Over the past year, the top meme coins have dropped an average of 63% from their 52-week high. Let’s take a closer look at the top meme coins to buy as the crypto market crashes.
Dogecoin (DOGE)
The Dogecoin price shows a falling channel pattern in its daily chart and is testing a crucial support level of $0.095 as it breaks under the 0.10 psychological mark. The downfall occurs with the 6.10% bearish engulfing candle formed this Sunday.
However, the bullish divergence in the RSI line projects a potential bounce back this week. However, the dynamic 50-day EMA could provide resistance at $0.10962. Before that, the reclamation of the 0.10 psychological mark will be a tough task.
Shiba Inu (SHIB)
Coming as the second biggest meme coin in the industry, Shiba Inu projects a similar price action to Dogecoin. Instead of a falling channel, the Shiba Inu price action forms a falling wedge pattern, which reflects higher price constriction and increases the possibility of a bullish breakout.
However, the bearish week for Shiba Inu accounts for a 12.19% drop and puts it back to the crucial support level of $0.00001288. However, the meme coin shows a similar bullish divergence and projects a potential bounce back to challenge the confidence of the resistance trendline and the 50-day EMA. A bullish breakout will put the 200-day EMA on the price target radar at $0.00001748.
FLOKI (FLOKI)
The Floki price action projects a slightly similar but better underlying movement following the two big meme coins. Trapped in a falling channel pattern, the meme coin reflects a bearish crossover between the 50-day and 200-day EMA, a death cross.
However, with the recent negative cycle forming five bearish consecutive candles, the meme coin returns to its crucial support level at $0.000111. Furthermore, the meme coin reflects a positive trend in the daily RSI line.
Hence, the uptrend could signal a bullish bounce back to the $0.00015 peak. On the flip side, $0.00010 is psychological support to hold a breakdown run.
BRETT (BRETT)
The BRETT meme coin based on the base blockchain, reveals a higher price range movement with an expanding channel. The meme coin has broken below its crucial support level in the daily chart at $0.00757.
With a 9.66% drop on Sunday, the Brett price trades at $0.07310 with an intraday gain of 1.40%. With a potential retest at play, the support levels under the limelight are $0.064 and $0.056.
POPCAT (POPCAT)
Unlike the other meme coins, the POPCAT price reveals a crucial support trendline at play. With an expanding channel in the daily chart, the POPCAT memecoin reveals a negative cycle, testing the support trendline at $0.052. Putting an end to the bear cycle, the intraday gain of 4.25% teases a bounce back from the support trendline.
However, in case of a bearish breakdown, the crucial support levels are at $0.35 near the expanding channel’s baseline and $0.19. On the upside, the $0.70 and $0.95 are critical resistances.
Earn more PRC tokens by sharing this post. Copy and paste the URL below and share to friends, when they click and visit Parrot Coin website you earn: https://parrotcoin.net0
PRC Comment Policy
Your comments MUST BE constructive with vivid and clear suggestion relating to the post.
Your comments MUST NOT be less than 5 words.
Do NOT in any way copy/duplicate or transmit another members comment and paste to earn. Members who indulge themselves copying and duplicating comments, their earnings would be wiped out totally as a warning and Account deactivated if the user continue the act.
Parrot Coin does not pay for exclamatory comments Such as hahaha, nice one, wow, congrats, lmao, lol, etc are strictly forbidden and disallowed. Kindly adhere to this rule.
Constructive REPLY to comments is allowed