Highlights:
- Dogwifhat displays significant bullish momentum due to a technical breakout, indicating a potential price rally of 10-15% after retracement.
- PEPE could experience substantial gains following the expected approval of an Ethereum spot ETF bolstered by strong institutional interest.
- MOG has demonstrated resilience in a down market, achieving new all-time highs, and is expected to reach a market cap of $1 billion.
The crypto market continues to recover from the recent market slump, as most memecoins display bullish trends. The total memecoin market cap has surged to $48 billion, while the trading volume has seen an impressive increase of 20% to $3.30 billion. Let’s look at the best meme coins to watch closely in July, including Dogwifhat, Pepe, Popcat, Myro, and Mog Coin.
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Best Meme Coins to Watch Closely in July
1. Dogwhifhat (WIF)
Dogwifhat, a memecoin on the Solana blockchain, currently trades at $2.25. This marks a 10% increase over the last 24 hours. Previously, it oscillated between $1.5 and $2.3 for nearly a week. The past week has seen a 38% rise in its price, though it has fallen by 20% this month.
The coin’s market capitalization has climbed to $ 2.25 billion. Concurrently, its trading volume has surged to $471 million. These gains align with a broader positive trend within the Solana ecosystem.
This uptick follows a recent announcement about the launch of Solana ETF products. The excitement around these new investment options seems to have injected optimism into the market, bolstering various Solana-based assets, including Dogwifhat.
Crypto analyst The Crypto Titan’s have his eyes on the WIF as it showcases a significant price movement, following its breakout from a technical pattern commonly known in trading circles as the Inverse Head and Shoulders (H&S). This development, observed on a 4-hour trading chart, indicates a potential uptrend for WIF, with predictions of a 10-15% rally following a strategic entry after the price retracement.
$WIF (4H) $WIF did a Breakout 📈 from the neckline of the Inverse H&S pattern, now we will enter at the Retracement.
After the successful ✅ Retracement we will see a 10-15% 🚀 Bullish rally in $WIF#wif #dogwifhate #btc #bitcoin #crypto @dogwifcoin pic.twitter.com/UUSokg2SH6
— The Crypto Titan's (@cryptotitans11) July 1, 2024
Following a downtrend, the WIF token has formed what chartists call an Inverse H&S pattern, a chart configuration often associated with reversing a downward trend. This pattern was completed when the price broke above the ‘neckline,’ a key resistance level, setting the stage for future bullish momentum.
Investors should keenly watch the retracement phase, which is typically a slight pullback in price following a breakout, before committing to a position. Successfully navigating this phase could confirm the bullish outlook, suggesting an impending upward trajectory for the token’s value.
2. Pepe (PEPE)
Anticipating the approval of an Ethereum spot ETF, significant institutional interest in Ethereum’s ecosystem tokens is likely. Historical Bitcoin ETF data shows high demand. The memecoin PEPE could see major gains post-approval.
PEPE is currently trading at $0.00001142, up by more than 1% in the past 24 hours. It has a trading volume of $542 million and a market cap of $4.80 billion. Over the past week, PEPE has gained 7%, while the monthly chart displays a decline of 24%. Currently, PEPE is struggling to breach the $0.0000130 resistance.
The memecoin market is witnessing another phase of robust activity as PEPE shows impressive strength. According to crypto analyst Decilizer, PEPE is well-positioned for an upward trajectory, potentially poised to shed a zero from its current valuation if the prevailing Bitcoin bullish trend persists.
$PEPE is gaining strength on the charts, gearing up for another upside move. If Bitcoin stays bullish, this memecoin might just trim a zero from its price. $SHIB and $DOGE are stepping up to lead the charge.
Previously there was an 11x surge in profits. #memecoins pic.twitter.com/iqn7lwzwbV— Decilizer (@decilizer) July 1, 2024
As the cryptocurrency sector becomes increasingly dynamic, memecoins like PEPE and their counterparts SHIB and DOGE are gaining significant traction. These tokens are not merely surviving the volatile market conditions but are seemingly setting the pace for a bullish advance.
Moreover, the broader cryptocurrency market maintains a supportive backdrop, underpinning the promising momentum of these lighter, more speculative assets. Consequently, as Bitcoin leads the market with its bullish signals, investors within the meme coin space remain optimistic about potential gains.
3. Popcat (SOL) (POPCAT)
The announcements of a Solana ETF launch have enhanced the profile of Solana-based projects. Among these, POPCAT stands out, drawing from its meme heritage and robust community support. The appeal of this coin extends beyond its meme roots, establishing significant traction in the market.
POPCAT is exhibiting a bullish trend, surging by more than 10% in the past 24 hours to trade at $0.6559. On the weekly and monthly charts, POPCAT has recorded impressive gains, surging by 139% and 58%, respectively. The memecoin is trading slightly below the ATH achieved in May at $0.7221. The market cap and trading volume are at $642 million and $75 million, respectively.
Technical indicators on the daily chart indicate increased buying pressure in the POPCAT market. Trading just below the ATH, the memecoin is ready to turn this resistance into new support. The Relative Strength Index (RSI) is currently hovering in the overbought region, which suggests a correction might be imminent. However, the buyers are holding their ground tight, suggesting that POPCAT could be on the brink of setting a new ATH soon.
4. Myro (MYRO)
Myro, a meme coin from the Solana ecosystem, has seen significant interest. Inspired by Solana’s founder’s pet, it surged 3448% since its debut. This growth occurred during the meme coin craze in January 2024, driven by a strong online campaign and the community’s love for its mascot.
Myro’s price has climbed 3.50% in the past day, reaching $0.1417. Its market cap is $133 million, while the trading volume is $23 million. Over the past week, despite a 40% drop, it gained 3.7%, reflecting a bullish resurgence in MYRO’s market.
Recent technical analyses highlight a potential rally for MYRO, which has historically demonstrated significant price movements during the month of July. Notably, the Stoch RSI indicator, a reliable tool for gauging momentum, has formed a bullish cross, suggesting a robust upturn in Myro’s market value.
Analyst observes the Myro market emphasizing that previous instances of bullish crosses on the Stoch RSI have consistently preceded price surges, including a notable 100% increase during the typically volatile month of May. Given the recurring pattern and historical data, market analysts forecast another optimistic phase for Myro, with predictions pointing towards a target of $0.764.
Moreover, July’s tendency to foster bullish market conditions further bolsters confidence in this projection. Such a consistent pattern of rebounds and growth phases signals a potential opportunity for investors looking to capitalize on MYRO’s cyclical trends.
5. Mog Coin (MOG)
MOG Coin, an ERC-20 token, energizes the MOG ecosystem by enabling transactions. This digital currency supports purchases and leases within its network. Additionally, MOG coin connects Bitcoin and Ethereum through the Multibit bridge.
Despite a general decline in the cryptocurrency market in June, MOG coin witnessed a 50% surge in its value. This significant increase thrust MOG into prominence, ranking it among the top 100 cryptocurrencies by market capitalization. In contrast to the broader market downturn, MOG coin’s performance makes it one of the best meme coins to watch closely in July.
MOG demonstrates a robust upward trajectory, achieving new all-time highs in recent trading sessions. According to crypto analyst Altcoin Miyagi, after a significant sell-off, MOG found substantial support at lower levels, propelling it to recover strongly and consistently set new records.
Initially settling at the lower end of its trading range, MOG experienced a vigorous rebound, swiftly returning to its previous all-time highs. This rapid recovery underscores the token’s resilience and investor confidence in its potential. Over the last few days, MOG has not only revisited its peak prices but has also established new highs on three out of the last four days, signaling a bullish outlook among traders.
$MOG is looking very bullish RN 🐂
After a big sell of it found solid support at the bottom of the range and then pumped straight back to ATH 🦾
It's still on the move setting a new ATH 3 out of the last 4 days 🚀
I'l definitely be looking for a retracement to get in on the… pic.twitter.com/pyoOetxXIF
— Altcoin Miyagi🤖 (@AltcoinMiyagi) July 1, 2024
Altcoin Miyagi highlights the current momentum, suggesting that MOG is still on an upward path with more room to grow. He anticipates a possible retracement as an opportune moment for investors to increase their holdings, particularly at levels that have historically acted as key support and resistance.
Investor sentiment around MOG is increasingly optimistic, with projections pointing towards a potential market capitalization of $1 billion soon. The critical question remains about how far MOG can extend its gains amidst the current market dynamics.
Conclusion
Meme coins like Dogwifhat, Pepe, Popcat, Myro, and Mog Coin present unique investment opportunities. With bullish trends and robust community support, these tokens are poised for potential gains in July 2024.
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