Dog Memecoins Poised for Double-Digit Gains

• Analysts have predicted that Dogwifhat (WIF), Bonk (BONK), and FLOKI (FLOKI) could hit an impressive level this week as they break above descending trendlines. 

• From the current price of $0.000158, Floki has been predicted to rise by 21% if bulls maintain control above this level. 

The meme ecosystem has recorded a considerable price growth of 920% in the last 30 days, 39% in the last seven days, and 5% in the last 24 hours. With a combined market cap of $50 billion, analysts have highlighted three dog-themed meme coins – Dogwifhat (WIF), Bonk (BONK), and FLOKI (FLOKI) to extend their bullish run to record a staggering double digits gain this week. 

Bonk (BONK)

Bonk (BONK) is currently the fifth largest meme coin, with a market cap of $1.65 billion. According to analysts, this asset recently broke above a descending trendline, which had been in place from the end of May to the end of September. From the current level, Bonk is expected to rise by 19% to retest the 50% retracement level at $0.000030 formed from the May high to August low. 

Looking at the Relative Strength Index (RSI), Bonk has hit the overbought zone with a reading of 70. This implies that the level of buying pressure is enough to sustain a bullish extension. On the other side, the increasing RSI level could also signal a potential price reversal. 

At press time, Bonk was up by 3% in the last 24 hours and 35% in the last seven days to trade at $0.00002345. 

According to analysts, the asset could decline to $0.0000181 if the price plunges below the $0.0000228 support level. 

Dogwifhat (WIF)

Dogwifhat (WIF) is currently the fourth largest meme coin in the ecosystem, with a market cap of $2.3 billion. According to our market data, this asset has surged by 39% in the last seven days to trade at $2.37. 

Interestingly, analysts believe that this bullish run will continue after breaking above its descending trendline and breaching a crucial resistance level at $1.947. Based on our analysis, a breach above the 50% price retracement at $2.586 would push the price to another 25% surge to hit $2.89. 

Looking at its market indicators, WIF’s RSI shows an overbought level of 74. This implies that traders should approach the asset with caution as the increasing RSI level indicates a possible pullback. WIF could likely retest its $0.0000181 level if bulls fail to hold the price above the $0.0000228 level. 

Floki (FLOKI)

Floki (FLOKI) is the sixth largest meme coin with a market cap of $1.51 billion. In the last seven days, the asset has surged by 19% to trade at $0.000158. 

According to analysts, the asset has currently breached a crucial resistance level and coincided with a 50% price retracement level. If Floki holds its momentum above this level, the price could surge by an additional 21% to reach $0.000188. 

A fall below $0.000154 could also result in a retest of the $0.000135 low. Unlike Bonk and WIF, Floki’s RSI has declined from 70 to 66, indicating a fall in bullish momentum. However, bulls remain strong at this level. 

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