Top 2 Memecoins That Can Dominate the Memecoin Mania During the Upcoming Crypto Bull Run

With the price of Bitcoin successfully reclaiming the $67K mark, mid-cap altcoins have displayed a strong bullish reversal in their respective portfolios.

Memecoins, a category of cryptocurrencies that have gained immense popularity over the past year, are typically created as a parody or joke and have no inherent value or use case. However, despite their lack of fundamentals, memecoins have managed to generate massive gains, largely driven by hype and community support.

As the crypto bull run continues, several memecoins have shown promising price action and are positioned to capitalize on the market enthusiasm. In this article, we will highlight the top 2 memecoins that have the potential to lead the memecoin mania during the upcoming bull run.

1. Dogwifhat (WIF) Memecoin Surges Past Resistance Level, Charting a Path toward Upper Highs

Amidst the rising bullish sentiment, the WIF price has recorded a jump of 6.79% in its value within the past week and an impressive 29.49% over the past 30 days. Further, the memecoin has surged approximately 1,598% year-to-date (YTD), showcasing strong buying pressure from traders.

Currently valued at $3.003, dogwifhat has secured the 33rd position in the global crypto list with a market capitalization of $2.591 Billion. This memecoin has rallied past its crucial resistance level of $2.75 and is now eyeing its upper highs of $4.

However, the Simple Moving Average (SMA) indicator has displayed a bearish crossover in the D time frame, indicating a potential shift in momentum. Moreover, the technical indicator, Moving Average Convergence Divergence (MACD), shows a constant decline with its averages recording a neutral trend. This signals a weak price action for the memecoin in the market.

2. Bonk (BONK) Memecoin Price Pushes toward Upper Resistance Level, Aiming for Bullish Breakout

The second most successful memecoin of the Solana chain, the Bonk price has displayed promising resilience amidst the market downturn. Currently valued at $0.00002967, the memecoin has added 22.37% to its valuation within the past 30 days and has surged approximately 110% this year.

Moreover, the memecoin has successfully tested its crucial support level of $0.0000270, bouncing off the price floor and displaying a strong bullish sentiment. This memecoin is now positioned to capitalize on the buying pressure and surge toward its upper resistance levels.

The Relative Strength Index (RSI) has retested its mid-point and is on the verge of recording a bullish crossover in the 1D time frame. This suggests a high possibility of a bullish reversal during the upcoming weeks.

If the market holds the BONK price above its crucial support level of $0.0000270, the bulls will prepare to test its upper resistance level of $0.00003390. Conversely, if the bears regain momentum, the memecoin will plunge toward its low of $0.00002125.

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