The crypto market entered the weekend dealing with one other correction, and meme cash felt the influence, with high names like Dogecoin (DOGE), Shiba Inu (SHIB), and dogwifhat (WIF) all down 3-5%.
On Wednesday, VanEck launched a meme coin index monitoring the efficiency of the highest 6 meme cash: Dogecoin (DOGE), Shiba Inu (SHIB), Pepe (PEPE), dogwifhat (WIF), Bonk (BONK), and Floki (FLOKI), with a 30% cap on every asset.
Meme Coin Worth Predictions – Prime Analysts Weigh in on VanEck’s Index
Chilly Blooded Shiller, a well-liked analyst with over 274k followers, shared his meme coin worth predictions yesterday. He seen Pepe because the “strongest chart”, saying it reclaimed a serious resistance stage. Pepe worth is round $0.0000083 at press time, barely under its March all-time excessive of $0.00001.
A little bit VanEck Memecoin Index thread.
Most markets have both already reclaimed help/highs or they’re ready to take action.
We’ll begin with the strongest chart imo, $PEPE.
Large reclaim and one of many first markets to interrupt the primary resistance overhead. pic.twitter.com/7wbIzYdGRp
— Chilly Blooded Shiller (@ColdBloodShill) May 10, 2024
For Bonk, Shiller known as it the “second strongest”, noting the same reclaim as Pepe however not but breaking the following resistance. Bonk worth is buying and selling round $0.000023, down 8% right this moment.
On WIF, he pointed to a possible head-and-shoulders sample, saying the $3.20 stage is vital to carry, with actual draw back threat if it loses $2.20 help. WIF worth is round $3.04 presently, down 5% within the final 24 hours.
CrediBULL, one other in style analyst with a following of practically 400k on X, additionally shared his bullish outlook on dogwifhat (WIF) worth right this moment. He revealed risking $25,000 on a protracted place, citing clear indicators of spot absorption as evidenced by the on-chain Cumulative Quantity Delta (CVD) making decrease lows whereas WIF’s worth has been making increased lows.
Risking 25k on a $WIF lengthy right here.
We’ve clear spot absorption right here as may be seen with spot CVD making decrease lows whereas worth is making increased lows.
In the meantime we’ve what appears to be a variety of underwater shorts that piled in on the earlier transfer down.
If the market goes… pic.twitter.com/6lgaLaoGNE
— CrediBULL Crypto (@CredibleCrypto) May 10, 2024
Moreover, CrediBULL pointed to what seems to be a major variety of underwater brief positions that amassed in the course of the earlier downward transfer.
He believes that if the broader market is positioned for a bounce, WIF may expertise a pointy squeeze to the upside, pushed by these over-leveraged brief sellers being pressured to cowl their positions.
Furthermore, Shiller mentioned Floki “wants to interrupt 0.19” for it to probably rally exhausting. Floki worth is buying and selling round $0.00016, down 4%.
For Shiba Inu, he talked about utilizing the “well-respected diagonal sample” and ready for an impulse earlier than getting bullish. SHIB worth is round $0.000022, off 3.35%.
$SHIB is similar.
Quite simple execution for this one, going to make use of the very nicely revered diagonal, look forward to the impulse after which consider it. pic.twitter.com/bEfZ6I1dMB
— Chilly Blooded Shiller (@ColdBloodShill) May 10, 2024
Lastly on Dogecoin, Shiller famous the “hassle round $0.165” resistance however mentioned it stabilized after sweeping March lows, suggesting ready for that push increased. DOGE worth is round $0.14 at press time, down 4.5% after failing to interrupt $0.20 twice this 12 months.
Answem, an analyst boasting practically 400k followers on X, highlighted an enormous rise of WIF, tweeting “by no means underestimate the ability of crypto degenerates & the distribution of the web.”
by no means underestimate the ability of CT degenerates & the distribution of the web, $WIF in an official Vaneck index when it was solely $100k market cap in December https://t.co/hGbw2hOErq
— Ansem 🐂🀄️ (@blknoiz06) May 8, 2024
He famous that WIF, which had a mere $100k market cap in December, has now secured a spot in VanEck’s official meme coin index.
Greatest Meme Cash to Purchase Now
Jacob Bury, a well-liked YouTuber with 38k subscribers, posted a video right this moment concerning the high cryptocurrencies to purchase now, highlighting Dogeverse as the highest meme coin to purchase now.
Dogeverse is a multichain infrastructure challenge that permits customers to entry the token on six main blockchains: Ethereum, BNB Chain, Polygon, Solana, Avalanche, and Base.
This multichain method affords flexibility in selecting the blockchain primarily based on particular person wants when it comes to price and pace. Over $15 million has been raised thus far within the presale, and this meme coin is making ready for its launch on exchanges quickly.
One other new and in style meme coin in presale is WienerAI, which has raised virtually $1.5 million. WienerAI combines components of synthetic intelligence (AI) and a playful narrative, that includes a dog-sausage hybrid mascot.
It’s designed as a utility challenge that makes use of AI know-how to allow seamless swaps and function an AI-powered buying and selling accomplice. As soon as the presale is over, it is going to launch on exchanges, however you’ll be able to presently purchase it at a reduced worth of 1 $WAI = $0.000705.
Conclusion
All in all, buyers may probably hold a detailed eye on the efficiency of high meme cash like DOGE, SHIB, PEPE, WIF, BONK, and FLOKI.
And final, however not least, new meme cash to observe like Dogeverse and WienerAI may probably current an funding alternative throughout their presale phases.
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