Top Meme Coins Prepare for a Breakout Rally, DOG (Runes) Eyes 71% Breakout Run

Despite Bitcoin trading at $60K levels and Ethereum stuck near $3,300, the meme coins are trending and offer a massive jump.

Bitcoin and Ethereum may be struggling to make significant gains, but meme coins are having a field day. After enduring a period of correction, these community-driven coins are now poised for a breakout rally.

Here's a closer look at some of the top meme coins that are preparing for a 2x surge or more in the coming weeks:

1. DOG (Runes)

After forming a falling wedge pattern during a pullback phase, DOG is now exhibiting a bull cycle on the 4H chart. During the pullback, the DOG token price dropped by 50% over three weeks from a peak of $0.009768. As the meme coin failed to cross the psychological level of $0.010, the跌幅found support near the $0.0050 psychological support.

Now, a 15% recovery rally is kicking off the bull cycle, and the uptrend is meeting resistance at the trendline and the $0.005810 level. An evening star is forming near this supply confluence as the meme coin attempts to break out.

If there's a reversal within the pattern, it could retest the $0.0050 mark. However, with the meme coins segment rallying, the uptrend could reach $0.010 with minor resistances at $0.0066 and $0.0085.

2. Floki

As one of the top-performing meme coins, FLOKI's price is up by 372% YTD despite the broader market sell-off. During the recent sell-off, the meme coin lost 50% of its market cap after forming a peak at $0.0003204.

However, recent support and lower price rejection at $0.00015 are teasing a rounding bottom reversal in the meme coin. If the FLOKI price action manages to lift off from the $0.00015 support, the uptrend could challenge the 78.60% trend-based Fibonacci level at $0.00034.

Furthermore, with the uptrend and broader market recovery, the FLOKI coin price can reach a new all-time high near the $0.00050 mark.

3. WIF

A bearish channel pattern is visible on the daily chart of WIF, and the pullback phase saw a 58% price drop. But in the recent bullish cycle from $1.58, the meme coin is up by 18% and challenging the overhead trendline.

With the bull cycle, the WIF price is teasing a channel breakout and the 61.80% Fibonacci level at $2. Moreover, the recovery rally is teasing a bullish crossover in the MACD and signal lines, hinting at a potential trend reversal.

With the breakout run, the meme coin can reach the present all-time high of $4.58 next month, hinting at an extended uptrend.

4. PEPE

One of the best-performing meme coins, PEPE, formed an all-time high at $0.000017. But with the crypto market crash, the frog-themed meme coin took a step-down approach, forming a new resistance trendline.

However, the recent bounce back from the 50% Fibonacci level at the $0.00001080 support zone is leading to a breakout. As the overhead trendline fractures, the PEPE price is suggesting a bullish trend reversal.

If the broader market recovers, the PEPE price breakout rally could surge to a new all-time high level with the $0.000018 breakout. Optimistically, the bull run can reach the psychological level of $0.000020.

5. BONK

Like most top meme coins, the BONK price trend showcases a falling channel pattern. However, with the recent turnaround, the BONK price is crossing the overhead trendline. This reversal move begins by taking psychological support at the $0.000020 level.

Further, the breakout event brings a bullish crossover in the MACD indicator. And the RSI line is jumping from the oversold boundary. Hence, the technical indicators are revealing a bullish bounce-back.

If the meme coins sustain an uptrend, the BONK price can reach the $0.000040 peak before heading to the psychological level of $0.000050

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