It now seems a distant memory when memecoins would spike hundreds, and sometimes thousands of percent in short periods of time. Are the crypto memes dead or dying now? What is the future for $DOGE, $PEPE, $WIF, and $TRUMP?
Is $DOGE the best bet to survive?
Source: TradingView
Of all the memecoins, $DOGE has stood the test of time, and is arguably the best bet to survive, given its connection with Elon Musk. Looking at the weekly chart above, it can be seen that the trend is still up, although holding on to that 0.786 Fibonacci will be of prime importance for the bulls. Falling just under the ascending trendline will also need to be reversed if possible by the end of this coming weekend.
In favour of the bulls, is the Stochastic RSI at the bottom of the chart. The indicators are reaching the bottom now. If they can turn around and start heading back up, and past the 20.00 level, this will bring in new upside price momentum, potentially lasting a few weeks.
The bottom may be in for $PEPE
Source: TradingView
$PEPE took quite a fall over the last couple of months, currently down around 66% from the top. It does look as though the bottom may have been found. The price is holding at the juncture of the horizontal support, and the ascending bull trend line.
Just as for $DOGE, the weekly Stochastic RSI for $PEPE is at the bottom. This could be a good time to enter a position if $PEPE is your thing. However, if the price does confirm below the support, it could well be the end of this bull run for $PEPE.
$WIF price chart does not give cause for optimism
Source: TradingView
The weekly chart for Dog Wif Hat (WIF) does not look good. A great looking breakout of the triangle, back in November last year, failed to make a higher high, and the price has since rolled over and crashed down through the bottom of the triangle, to end up in its present sorry state.
Even though the Stochastic RSI indicators are at rock bottom, the 84% crash will not give potential investors much cause for optimism. That said, if a fair wind does get behind the sails of $WIF going into the final stage of the bull market, who knows where this could end up.
$TRUMP in a bottoming process?
Source: TradingView
Given that $TRUMP has only experienced 3 weeks of price action up to now, making predictions is not easy. What we can say is that $TRUMP has lost 77% of its value from that incredible spike up on the first day it was released.
This was probably to be expected given the sensational hype of this memecoin, and the figure it is tied to. That said, if some kind of bottoming process is happening now, those who want to take the casino-like bet could start thinking of an entry. The targets, based on the Fibonacci levels, are in the chart above.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
