Can the Meme Coin Surge to New Heights?

Right now, PEPE is the top trending cryptocurrency, with a 24-hour change of 11.8%. In the last seven-days, it has seen a rise of over 25.2%. A crypto trading expert has identified a pattern, which can give positive hopes for Pepe enthusiasts. Let’s understand what the expert has identified. 

PEPE Pattern Analysis: An Expert Opinion 

A crypto trading expert, identified as Captain Faibik, in his recent statement in X, discussed in detail about a technical observation he had made. He explained about the technical pattern he had observed in the Pepe chart. In his opinion, the triangle pattern he had observed in the Pepe chart would be a positive sign. He concluded his statement with a prediction of a bullish outbreak in the Pepe market next month. 

As we all know, a triangle pattern is a chart pattern in cryptocurrency technical analysis where the price of an asset is converging between two trendlines. If such a pattern is formed, there is nothing wrong in expecting a breakout. Importantly, this pattern does not assure a positive breakout, but in this situation, considering that the general trend is favourable, it is sensible to expect a positive breakout.

Memecoin Market Analysis: A General Overview 

The current total market cap of Meme Coins is $46 Billion. In the last 24 hours, it has recorded a positive change of over 11.2%. Dogecoin, Shiba Inu, Pepe, digwifhat and Bonk are the top five Meme Coins based on market cap. Interestingly, all the five top Meme Coins have shown positive performance in the recent past.

Dogwifhat is the Meme Coin that has seen the highest change in the last 24 hours. It has marked a change of 13.0%. Pepe has closely followed with over 11% change. Bonk, Shiba Inu and Dogecoin have reported 7.8%, 6.0% and 5.2% change respectively.

None of these top Meme Coins has shown a negative change in the last seven days, though almost all of them have displayed a negative change in the last 30-days. Dogwifhat, with 31.1% change, and Pepe, wth 25.2% change, has become the top two Meme Coins about the top five, on the basis of the highest change reported in the last scene days.  Bonk, with 17.1%, Shiba Inu, with 14.7%, and Dogecoin, with 11.5%, have followed closely. 

In conclusion, the hope of the expert that the Pepe market may witness a bullish breakout in September is sensible, considering the overall trend of the Meme Coin market, which has shown a strong positive change in the recent past.    

Also Check Out: Bullish Breakout! Dogecoin Price Prediction For August 2024