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Best Memecoins to Watch Today, March 11 - PIPPIN, BONK, DOGE

Highlights:

  • PIPPIN exhibits a strong upward momentum with an imminent breakout as buying pressure rises.
  • BONK faces a minimal bearish trend, but strong support shows a possible reversal.
  • Despite the price drop, analysts anticipate that a breakout trend would trigger a significant price surge in Dogecoin.

The crypto market has seen a setback today, shedding most of the gains recorded since the start of the week. Crypto prices have been caught between a safe haven bid and a broad risk-off threat in the ongoing geopolitical tensions, leading to broad volatility. The total market capitalization has declined by 1% to $2.37 trillion. Meanwhile, the 24-hour trading volume has increased slightly to $105 billion. 

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Amid this latest pullback, the memecoin sector shows a positive outlook, with its market cap surging 3% to $30 billion. Moreover, the trading volume has exploded by over 35% to $4.30 billion. In the section below, let’s take a look at the best memecoins to watch today, such as PIPPIN, BONK, and Dogecoin.

Best Memecoins to Watch Today

1. PIPPIN

PIPPIN is trading around $0.3300 with a decline of 6.35% over the last 24 hours. The memecoin is, however, up by more than 25% on the monthly chart. Its market capitalization stands at around $370 million.

PIPPIN Price Chart: CoinMarketCap

Looking at PIPPIN’s 4-hour chart, the memecoin is on the verge of breaking out of the consolidation that has held since the start of March. After bouncing from the support around $0.3070, the price faced a new rejection at the $0.4219 region. The price is currently trading slightly below this region, suggesting that the upward journey is not yet over.

Best Memecoins to Watch Today, March 11 - PIPPIN, BONK, DOGE
PIPPIN Price Chart: TradingView

At the moment, the bulls are in control, and a break above this mark could potentially challenge the next resistance at $0.5816. Meanwhile, the RSI is hovering around the neutral region, indicating that the memecoin’s momentum is not yet overbought. Moreover, the MACD line has crossed into the positive region, indicating an increased buying pressure in the market.

2. BONK

BONK is trading on a bearish note today, down by 1.5% on the daily chart. The price is currently hovering around $0.000005921 with a market capitalization of $515 million. Moreover, the trading volume has declined by 15% to $50 million.

BONK Price Chart: CoinMarketCap

Despite the bearish sentiment surrounding BONK’s market, there is a catch. The memecoin is testing the descending trendline, which has held during the previous upward rallies. After testing this mark on March 10, the price has faced a pullback due to the broad market decline. This pullback has, however, not invalidated the upward journey as green candlesticks start to form again on the chart.

Best Memecoins to Watch Today, March 11 - PIPPIN, BONK, DOGE
BONK Price Chart: TradingView

In addition, the support around the $0.00000550 region has proved strong as it has held the memecoin from further declines several times. This bullish thesis has been supported by indicators, such as RSI and MACD. The RSI shows a neutral position at 52 levels, whereas the MACD indicator maintains positive momentum with green bars in the histogram.

3. Dogecoin (DOGE)

Dogecoin has dropped below the $0.1000 mark as the bearish momentum gears up in the market. As of this writing, the price is exchanging hands around $0.0919. Despite this decline, the trading volume has surged by 100%, elevating the value to $2.17 billion.

DOGE Price Chart: CoinMarketCap

Crypto analyst Trader Tardi Grade has shared a market analysis regarding the price action of Dogecoin. According to his analysis, Dogecoin is building a setup at the moment on its 3-day chart, which has historically resulted in major price pumps. This similar trend had also occurred earlier, thus signaling a potential breakout.

The emphasis is now on momentum turn and the possibility of follow-through. Traders should pay close attention to a breakout because this may result in a rally. Dogecoin remains one of the contenders holding around this current level, making it one of the best memecoins to watch today.

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