The crypto market has rebounded properly over the previous two days, with Bitcoin bouncing off lows across the $56,000 degree to present costs close to $64,000. This constructive momentum has impacted numerous sectors, together with the meme coin area.
Prime meme cash like WIF are up 22%, whereas different outstanding memes like SHIB have climbed 11%, and BONK has risen 9% within the final 24 hours.
Meme coin king DOGE value can also be up right this moment over 20%.
As the general market sentiment improves, traders are carefully watching the worth actions and predictions for these well-liked meme cryptocurrencies. Let’s dive into the evaluation and projections from crypto analysts and consultants.
WIF Worth Prediction
In keeping with the 99bitcoins YouTube channel, which boasts over 700,000 subscribers, WIF (often known as DogWithHat) reveals promising indicators of continued progress. The channel acknowledged:
“We are able to see when it comes to market cap, we’re at the moment sitting at $3.1 billion, making this high 37 throughout 10,000 energetic cryptocurrencies. When it comes to quantity, we’re at quantity 18, which is nice as properly. And once more, on the week as properly, trying nice, up 17%.”
The channel additional famous that regardless of April’s downturn, WIF seems poised for bullish momentum coming into Could, with technical indicators like transferring averages signaling sturdy purchase indicators.
“Individuals wish to load up on DogWithHat, once more, very, very thrilling issues. It’s been a meme coin that’s simply been so eccentric, everybody loves this coin,” the channel added.
Whereas WIF is down 12% on the month-to-month chart, it hasskyrocketed an astonishing 1,600% over the previous six months. Analysts predict WIF might doubtlessly hit costs between $5 and $10 in Could, highlighting the meme coin’s rising recognition and bullish sentiment.
BONK Worth Prediction
Jacob Bury, a YouTuber with 38,000 subscribers, shared his technical evaluation and value predictions for BONK. He defined his technique of setting alerts on decrease Relative Power Index (RSI) ranges to establish potential shopping for alternatives.
“So, to have a look at the technical evaluation facet of Bonk, um, simply to reiterate my form of technique right here with meme cash, I are likely to set alerts on the decrease RSI areas. So, for instance, when Bonk hit 33 on the relative power index right here on the each day timeframe, um, what that truly did, as you’ll be able to see right here, it offered a shopping for alternative.”
Bury highlighted the significance of monitoring RSI ranges, suggesting shopping for when the RSI falls beneath 40 throughout bull markets and promoting when it rises above 80.
Wanting forward, Bury believes BONK might expertise one other important upward transfer over the subsequent three to 6 months, doubtlessly reaching the $0.00006 area, representing a 2x alternative from present ranges.
“I do assume it’s potential due to the low Market C and the quantity of progress we’ve nonetheless received remaining for the crypto area. I don’t assume we’re close to the tip in any respect in these crypto markets, and Bonk has simply had an important demonstration of progress,” Bury acknowledged.
Shiba Inu (SHIB) Worth Prediction
Shifting focus to the favored Shiba Inu (SHIB) meme coin, Bury acknowledged the latest market downturn however expressed optimism for SHIB’s future progress.
“This has been a really a lot form of poor begin to Could general within the crypto area, however I do wish to see Sheba begin to develop increasingly. We’re beginning to see Doge up, Pepe up, um, you bought Bonk up as properly, fairly a number of meme cash are beginning to shine as soon as once more, and general, you’ll be able to’t actually argue with the efficiency of the day.”
Bury highlighted the rising burn charge for SHIB tokens, with a 500% surge within the final 24 hours, indicating a big variety of tokens being faraway from circulation.
He additionally famous substantial whale burns, together with a latest 14.9 million token burn and a 35.8 billion token burn a number of days in the past.
From a technical perspective, Bury employs the RSI technique, aiming to purchase when the indicator dips beneath 30, as these ranges have traditionally offered favorable shopping for alternatives for SHIB.
“So it’s trying all proper, truly; it’s not trying too unhealthy. So Sheini has had an enormous, large pump from this degree. We are able to see there’s plenty of help at this useless on 0.00002 area, and since then, if you happen to purchased there, you’re up an excellent 15% in the intervening time.”
Bury means that if SHIB can retest the $0.00000028 degree, it might type a double backside bullish reversal sample, doubtlessly triggering a continued upside transfer for the meme coin.
Each the 99Bitcoins channel and analyst Jacob Bury have emphasised the potential for returns from newly emerged meme coin launches like Dogeverse and Sealana, tasks that might see substantial positive aspects within the coming weeks in line with their evaluation.
