As August 2024 approaches, several meme coins are gaining attention. Here are five meme coins to watch, including Dogecoin, Pepe, Mog Coin, Bonk, and Popcat.
Points
- Dogecoin shows signs of a bullish trend, potentially reaching $0.17.
- Pepe is poised for an upswing, with a target of $0.000015.
- Mog Coin has room to grow, possibly surpassing its all-time high.
- Bonk could bounce back if it meets specific conditions.
- Popcat aims to reach $1, driven by positive sentiment.
Meme coins have evolved from quick-turnaround investments to significant parts of many traders’ portfolios. Here are five meme coins to watch as August 2024 approaches.
Dogecoin （DOGE）
Despite its low performance over the last 90 days, Dogecoin is on track to finish the month with its first positive return since May. Currently trading at $0.13, DOGE is forming higher lows, suggesting a bullish trend. The Awesome Oscillator （AO） is positive, indicating bullish momentum. If validated, DOGE could retest $0.15 and reach $0.17 in August. However, if selling pressure increases, the price may decline to $0.12 or $0.11.
Pepe （PEPE）
Pepe has struggled to maintain its uptrend but is the top meme coin on the Ethereum blockchain. Technically, it has been trading between $0.000010 and $0.000013. The Parabolic Stop-and-Reverse （SAR） suggests an upward trend, potentially pushing the price to $0.000015 if validated.
Mog Coin （MOG）
Mog Coin has seen an 8000% increase Year-To-Date （YTD）, reaching an all-time high of $0.0000024 on July 21. Despite a recent 17% drop, MOG’s price could continue to rise in August, supported by the Exponential Moving Average （EMA）. If this trend continues, MOG may surpass its ATH and reach $0.0000026.
Bonk （BONK）
Bonk, a top meme coin on Solana, has lost 13% recently, bringing its price to $0.000027. However, this decline could present a buying opportunity. The Chaikin Money Flow （CMF） and Relative Strength Index （RSI） conditions need improvement for BONK to perform well. If buying pressure increases, BONK could return to $0.000030 and potentially reach $0.000035. Otherwise, it may drop to $0.000024.
Popcat （POPCAT）
Popcat, the cat-themed meme coin, has performed well recently. Although down 10% in the last 24 hours, the RSI indicates that bulls are defending the crypto. If this continues, POPCAT could bounce to $0.83 and then $1 in August. If holders continue to sell, the price may drop to $0.70.
Explanation
- The evolution of meme coins signifies their growing acceptance in the crypto market.
- Dogecoin’s bullish indicators suggest potential gains, while Pepe and Mog Coin also show promising trends.
- Bonk and Popcat have specific conditions that, if met, could lead to significant price increases.
- Understanding these trends and technical indicators can help investors make informed decisions about adding meme coins to their portfolios.