Meme Coins Market Resurgence Positions POPCAT (POPCAT), Pepe Fork (PORK), Floki (FLOKI), Shiba Inu (SHIB), and Book of Meme (BOME) for Potential September Growth
- 王林Original
- 2024-08-30 03:25:31566browse
The meme coin market has experienced a significant downturn over the past month, with its market capitalization dropping by 20% due to reduced trading activity.
Meme coins, known for their volatility and community-driven nature, have experienced a downturn in recent times. However, certain meme coins are still attracting attention and could be poised for potential growth in September. Here's a closer look at five meme coins to watch:
1. Popcat (POPCAT): This Solana-based meme coin has seen a 46% surge in the past week, currently trading at $0.69. Technical analysis reveals a rising Relative Strength Index (RSI) of 57.58, indicating increasing buying activity. The Moving Average Convergence Divergence (MACD) also shows a strong bullish bias. If the trend continues, POPCAT may rise to $0.71; otherwise, it might drop to $0.62.
2. Pepe Fork (PORK): PORK's price has soared by 82% over the past month, reaching a monthly high of $0.00000016 in the last 24 hours before correcting to $0.00000013. The frog-themed meme coin is trading above its 20-day exponential moving average (EMA), and its Chaikin Money Flow (CMF) is rising, currently at 0.23. If the trend continues, PORK may exchange hands at $0.00000024.
3. Floki (FLOKI): While Floki's price has dropped 13% over the past month, presenting a sell signal, an on-chain assessment of its Market Value to Realized Value (MVRV) ratio reveals a potential buying opportunity. According to data from Santiment, FLOKI's 30-day and 90-day MVRV ratios are -34.30% and -55.26%, respectively, indicating that the asset is trading below its realized price, which is often seen as a buy signal.
4. Shiba Inu (SHIB): Despite SHIB's double-digit price decline over the past month, large holders, or "whales," are accumulating more coins, evident from an 81% spike in large holders' netflow. This signals increased buying activity among large addresses, which could influence retail investors and potentially drive up SHIB's price, leading to a recovery from its downtrend.
5. Book of Meme (BOME): This meme coin has seen a 13% value decline over the past week, but its Chaikin Money Flow (CMF) has been rallying and is now close to crossing above the zero line. A bullish divergence occurs when an asset's price falls while its CMF rises, indicating underlying accumulation despite the price drop. The increasing CMF shows positive money flow into the asset, suggesting a potential rebound. If BOME begins to rally, its next price target could be $0.01.
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