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Crypto prices have started showing considerable bullish strength again, with the Bitcoin price hitting $60,000 today on Saturday.
BTC is now up nearly 14% from its September lows of $52,800 and appears poised for a bullish continuation.
Experts believe the crypto market is on the verge of a parabolic breakout, particularly as US stocks, bonds and Gold near new all-time highs ahead of the Fed’s interest rate cuts.
Unsurprisingly, whales have started to stack meme coins, with Dogecoin, Popcat and Pepe Unchained expected to see gains in the coming days and weeks.
Crypto Prices Soar, What’s Next For Bitcoin After $60k?
The broader crypto market outlook has considerably improved, as Bitcoin looks to join the bull rally in US stocks and Gold.
Indeed, BTC has flipped several key resistance levels. For instance, it is trading above the 4-hour 200 SMA and EMA levels, which indicates considerable short-term momentum and strength.
A weekly close above these levels – which are hovering near $58.9k – could result in a strong continuation.
The Bitcoin price has also reclaimed the multi-month Downtrending Channel after today’s rally. A weekly close above $58,150 – the lower trendline of the channel – could kickstart an upside move to over $65,000, the upper trendline.
The next price target for bulls is to flip the 21-week Exponential Moving Average at $60,500, widely known as the ‘bull market moving average’.
However, it shouldn’t be a tough hurdle, considering that the whales are institutions are once again on a Bitcoin buying spree.
For instance, the spot Bitcoin ETFs recorded $263 million in inflows on Friday, the largest one-day figure in several weeks.
Indeed, data from Santiment indicates a strong trend of BTC accumulation from whales and sharks as well as falling levels of Bitcoin on exchanges.
A Bitcoin bull rally would send crypto prices soaring, particularly meme coins.
These 3 Cryptos Could Explode Next
Whales are buying Bitcoin in preparation for the interest rate cuts in the upcoming FOMC. They are also stacking meme coins – including low-cap gems – as beta plays on the improving market outlook.
Here are the 3 meme tokens that could explode next behind heavy whale interest.
Dogecoin (DOGE)
The meme coin market leader has been sidelined for most of this bull cycle. However, experts believe that Dogecoin is on the cusp of a parabolic move.
For one, the DOGE price appears poised to secure a breakout above its multi-month Falling Wedge, which could trigger an upside move to $0.17.
Meanwhile, the Dogecoin RSI is also seeing a strong breakout in the 3-day price chart, indicating an increase in buying momentum.
Experts are confident that the Dogecoin price will reach $1 in the coming months. After all, it remains billionaire Elon Musk’s favourite cryptocurrency.
Popcat (SOL) (POPCAT)
Popcat has been the top-performing meme coin in recent weeks. In fact, it has posted the second-largest gains in the past week and the third-highest in the past month of any top 100 cryptocurrency on CoinMarketCap.
The Solana meme coin is in extremely high demand among whales. On Friday, a whale purchased nearly $4 million worth of POPCAT.
The meme coin currently has a market capitalization of just $708 million and is trading 28% below its all-time high. This presents an excellent opportunity to buy the dip, considering some experts see Popcat reaching a peak valuation of $10 billion.
Pepe Unchained (PEPU)
Pepe Unchained – a new low-cap meme coin – is seeing one of the hottest presales of 2024 behind heavy whale demand. PEPU has already raised over $13.2 million in presale funding.
Back in July, a crypto whale invested $200k into Pepe Unchained. Similarly, earlier this month, two deep-pocketed investors purchased $25k and $55k worth of PEPU respectively.
Unlike most new meme coins, Pepe Unchained is a high-utility token, a big part of its unique value proposition. For instance, it is launching its own Layer-2 scaling solution on Ethereum, specifically designed for meme coin trading.
The chain will offer low trading costs, fast transactions as well as its own DEX and block explorer, with PEPU at the centre of it all.
Owing to its in-demand utilities and substantial whale interest, experts believe that Pepe Unchained could be the next 100x meme coin, especially once crypto prices start their bull rally.
Source: https://finbold.com/crypto-prices-rise-with-bitcoin-hitting-60k-3-coins-that-could-explode-next/