Baby Doge Coin (BABYDOGE) and Cat in a Dogs World (MEW) Meme Coins Surge or Are Ready For a Breakout Rally
- Susan SarandonOriginal
- 2024-10-09 03:30:09504browse
As the recovery trend in Bitcoin hits the front brakes, the altcoin market volatility increases quickly. Amid a volatile market, certain meme coins continue to surge
As the recovery trend in Bitcoin hits the front brakes, the altcoin market volatility increases quickly. Amid a volatile market, certain meme coins continue to surge or are ready for a breakout rally ahead!
Baby DogeCoin (BABYDOGE) and Cat in a Dogs World (MEW) are such meme coins. Let’s have a look at the BABYDOGE and MEW price analysis for an upside possibility.
Top Meme Coins Ready For A Breakout:
Baby Doge Coin (BABYDOGE)
The BABYDOGE meme coin has a market cap of $340 million and is currently trading at $0.000002216. The meme coin has increased by 2.54% in the past 24 hours. In the daily chart, the meme coin reveals a falling wedge breakout rally leading to a trend reversal.
The recovery rally in BABY DOGE hits an overhead resistance near the 61.80% Fibonacci level, leading to a double bottom formation at the $0.000001827 baseline. Moreover, the neckline for the double bottom pattern stands at the 50% Fibonacci level at $0.000002364.
The growing bullish influence has led to a golden crossover between the 50-day and 200-day EMA. Furthermore, the MACD and signal lines are on the verge of a bullish crossover.
Based on the Fibonacci level, the breakout rally in BABY DOGE will likely reach the previous swing high, the 52-week high, at $0.000003941.
Cat in a Dogs World (MEW)
In the daily chart, the MEW meme coin reveals a larger symmetrical triangle pattern. The ongoing bull cycle within this pattern tests the $0.00738 before taking a higher-priced action.
Following the two consecutive bullish candles, accounting for a price jump of almost 30%, the meme coin takes an intraday pullback of 3.75%. Currently, the meme coin is trading at $0.006883 and potentially approaching the 78.60% Fibonacci level at $0.0065.
The intraday pullback marks as a retest of the rounding bottom reversal with a neckline at 78.60% level. The ongoing bull cycle leads to a bullish crossover between the MACD and the signal line.
With the ongoing bull cycle gaining momentum and surpassing the 78.60% Fibonacci level, the meme coin is likely to break above the overhead trendline and the $0.00738 resistance level. Based on the Fibonacci level, the triangle breakout rally will have two crucial price targets at $0.00111 and $0.00166.
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