The crypto market entered the weekend going through one other correction, and meme cash felt the affect, with high names like Dogecoin (DOGE), Shiba Inu (SHIB), and dogwifhat (WIF) all down 3-5%.
On Wednesday, VanEck launched a meme coin index monitoring the efficiency of the highest 6 meme cash: Dogecoin (DOGE), Shiba Inu (SHIB), Pepe (PEPE), dogwifhat (WIF), Bonk (BONK), and Floki (FLOKI), with a 30% cap on every asset.
Meme Coin Value Predictions – High Analysts Weigh in on VanEck’s Index
Chilly Blooded Shiller, a well-liked analyst with over 274k followers, shared his meme coin worth predictions yesterday. He considered Pepe because the “strongest chart”, saying it reclaimed a significant resistance degree. Pepe worth is round $0.0000083 at press time, barely under its March all-time excessive of $0.00001.
Slightly VanEck Memecoin Index thread.
Most markets have both already reclaimed assist/highs or they’re ready to take action.
We’ll begin with the strongest chart imo, $PEPE.
Enormous reclaim and one of many first markets to interrupt the primary resistance overhead. pic.twitter.com/7wbIzYdGRp
— Chilly Blooded Shiller (@ColdBloodShill) Could 10, 2024
For Bonk, Shiller known as it the “second strongest”, noting the same reclaim as Pepe however not but breaking the following resistance. Bonk worth is buying and selling round $0.000023, down 8% at this time.
On WIF, he pointed to a possible head-and-shoulders sample, saying the $3.20 degree is essential to carry, with actual draw back threat if it loses $2.20 assist. WIF worth is round $3.04 at the moment, down 5% within the final 24 hours.
CrediBULL, one other standard analyst with a following of practically 400k on X, additionally shared his bullish outlook on dogwifhat (WIF) worth at this time. He revealed risking $25,000 on a protracted place, citing clear indicators of spot absorption as evidenced by the on-chain Cumulative Quantity Delta (CVD) making decrease lows whereas WIF’s worth has been making larger lows.
Risking 25k on a $WIF lengthy right here.
We have now clear spot absorption right here as will be seen with spot CVD making decrease lows whereas worth is making larger lows.
In the meantime we now have what appears to be plenty of underwater shorts that piled in on the earlier transfer down.
If the market goes… pic.twitter.com/6lgaLaoGNE
— CrediBULL Crypto (@CredibleCrypto) Could 10, 2024
Moreover, CrediBULL pointed to what seems to be a major variety of underwater brief positions that gathered through the earlier downward transfer.
He believes that if the broader market is positioned for a bounce, WIF might expertise a pointy squeeze to the upside, pushed by these over-leveraged brief sellers being compelled to cowl their positions.
Furthermore, Shiller mentioned Floki “wants to interrupt 0.19” for it to possible rally exhausting. Floki worth is buying and selling round $0.00016, down 4%.
For Shiba Inu, he talked about utilizing the “well-respected diagonal sample” and ready for an impulse earlier than getting bullish. SHIB worth is round $0.000022, off 3.35%.
$SHIB is identical.
Quite simple execution for this one, going to make use of the very effectively revered diagonal, anticipate the impulse after which consider it. pic.twitter.com/bEfZ6I1dMB
— Chilly Blooded Shiller (@ColdBloodShill) Could 10, 2024
Lastly on Dogecoin, Shiller famous the “hassle round $0.165” resistance however mentioned it stabilized after sweeping March lows, suggesting ready for that push larger. DOGE worth is round $0.14 at press time, down 4.5% after failing to interrupt $0.20 twice this yr.
Answem, an analyst boasting practically 400k followers on X, highlighted an enormous rise of WIF, tweeting “by no means underestimate the facility of crypto degenerates & the distribution of the web.”
by no means underestimate the facility of CT degenerates & the distribution of the web, $WIF in an official Vaneck index when it was solely $100k market cap in December https://t.co/hGbw2hOErq
— Ansem 🐂🀄️ (@blknoiz06) Could 8, 2024
He famous that WIF, which had a mere $100k market cap in December, has now secured a spot in VanEck’s official meme coin index.
Greatest Meme Cash to Purchase Now
Jacob Bury, a well-liked YouTuber with 38k subscribers, posted a video at this time concerning the high cryptocurrencies to purchase now, highlighting Dogeverse as the highest meme coin to purchase now.
Dogeverse is a multichain infrastructure mission that enables customers to entry the token on six main blockchains: Ethereum, BNB Chain, Polygon, Solana, Avalanche, and Base.
This multichain strategy affords flexibility in selecting the blockchain based mostly on particular person wants by way of price and velocity. Over $15 million has been raised up to now within the presale, and this meme coin is making ready for its launch on exchanges quickly.
One other new and standard meme coin in presale is WienerAI, which has raised virtually $1.5 million. WienerAI combines components of synthetic intelligence (AI) and a playful narrative, that includes a dog-sausage hybrid mascot.
It’s designed as a utility mission that makes use of AI know-how to allow seamless swaps and function an AI-powered buying and selling accomplice. As soon as the presale is over, it can launch on exchanges, however you possibly can at the moment purchase it at a reduced worth of 1 $WAI = $0.000705.
Conclusion
All in all, traders may probably preserve a detailed eye on the efficiency of high meme cash like DOGE, SHIB, PEPE, WIF, BONK, and FLOKI.
And final, however not least, new meme cash to look at like Dogeverse and WienerAI might probably current an funding alternative throughout their presale levels.
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