3 Meme Coins Poised for Growth This Week
Meme coins have started the week strong, with a collective value increase of 9.5%, reaching $90.5 billion. Several coins have seen significant gains, while others are set to follow suit in the coming days.
Here’s a breakdown of three meme coins that investors should monitor closely.
Pudgy Penguins (PENGU)
PENGU has increased by 31% over the past week and is currently trading at $0.039. It's approaching its all-time high of $0.046.
Strong bullish sentiment and market activity are driving this rally, suggesting that PENGU could soon retest resistance levels if the momentum holds.
The meme coin is now only 18.7% away from its record high. A Golden Cross pattern formed last week further supports a bullish outlook. If PENGU successfully turns $0.040 into a stable support level, the rally might continue, potentially reclaiming its historical peak.
However, potential downside risks exist. If investors start taking profits, selling pressure could drive PENGU lower, with the critical support level at $0.029. Losing this support could halt the upward trend.
Milady Cult Coin (CULT)
CULT is gaining bullish momentum after a 53% increase over the past week, currently trading at $0.00106. This rally indicates a potential breakout phase, with the meme coin targeting the critical resistance at $0.00110.
Sustained buying interest is helping CULT climb toward a stronger market position.
Technical indicators lean bullish, with the Parabolic SAR below the candlesticks, signaling an active uptrend. If CULT maintains this trajectory, supported by the broader crypto market, it's likely to breach $0.00110. This could pave the way for a further rise toward $0.00124, reinforcing bullish sentiment.
However, a reversal risk remains. Profit-taking could stall CULT's rally. Increased selling pressure could cause the meme coin to lose momentum and fall to support at $0.00087. A break below this level could push CULT down to $0.00072, negating the current bullish outlook.
Osaka Protocol (OSAK)
OSAK has emerged as a top-performing meme coin, surging 81% in the last seven days. Currently trading at $0.0000002077, the altcoin has attracted investor attention with strong momentum.
Its recent price increase reflects growing demand and optimism among retail traders in the meme coin sector.
The Parabolic SAR indicator is below the candlesticks, suggesting a continuation of the bullish trend. A successful break above $0.0000002101 could confirm further upside potential. If this occurs, OSAK could rally towards $0.0000002340, providing substantial returns and reinforcing bullish sentiment among investors seeking short-term gains.
However, if OSAK fails to break through the $0.0000002101 resistance or faces bearish pressure, it may retreat. A drop to $0.0000001646 would nullify the current bullish thesis, signaling a trend reversal.
Disclaimer: Cryptocurrency investments are subject to high market risk. Please invest cautiously.
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