With Bitcoin inching closer to the $62K mark after a tumultuous first week of October, meme coins are rising again. Amid the rising geopolitical tensions, the historical October rally of crypto is at risk.
Under such conditions, here are the top three meme coins, ready to bounce back with a breakout rally. So, let’s look at these top coins for a 2x breakout run next week.
Top Meme Coins To Buy:
BONK (BONK)
With a bearish reversal within a triangle pattern, the BONK token price pulls back to the 50-day EMA. Further, the meme coin finds support near the 23.60% Fibonacci level at the psychological mark of $0.000020.
Following the 8.42% recovery on Friday, BONK price action reveals a bullish harami pattern at a crucial support level. Additionally, the 200D and 50D EMA are on the verge of a golden crossover.
If the bull cycle breaks above the overhead trendline, the meme coin can reach the $0.00003756 mark. On the flip side, the crucial supports are at $0.000020 and $0.000015.
Shiba Inu (SHIB)
With a bullish breakout rally of a falling channel pattern, Shiba Inu shows a trend reversal in the daily chart. However, the breakout run hits the reverse gear amid a market crash to retest the 50D EMA.
The 20% pullback in five days shows lower price rejection from the 50D EMA leading to a morning star pattern. Further, the bull run shows an 8.08% rise followed by a 1.55% intraday gain today.
With the broader market finding a minor recovery in a potential bear market, the meme coin is preparing for a bounce back. Based on the price action the uptrend in SHIB can hit $0.00002118 and $0.00002742.
PEPE (PEPE)
Similar to Shiba Inu, the PEPE meme coin shows a falling wedge breakout run ending the pullback phase. However, the breakout run takes a 180 and retests the 200-day EMA with a 25% drop.
However, the meme coin springs back into action with an intraday recovery of 8.76% leading to a bullish engulfing candle. Further, the 50D and 200D EMA are gaining momentum after a golden crossover.
Based on the price action, the V-shaped reversal in PEPE could challenge the $0.000012 and $0.000016 marks. On the flip side, the crucial supports are at $0.0000083 and $0.0000075.
Keen on stacking some Pepe? Get the potential price targets in our Pepe Price Prediction
Source: https://coinpedia.org/price-analysis/top-meme-coins-set-for-2x-breakout-rally-amid-bitcoins-rise-to-62k/