Meme coins followed in the footsteps of Bitcoin when the crypto king reached the $105,000 mark today. Leading the way among joke tokens was Pippin, a fairly low-cap token, but which recorded growth of over 94% in 24 hours.
BeInCrypto has analyzed two other meme coins that investors should pay attention to today, and the direction they are heading.
Moo Deng (MOODENG)
Launch date – September 2024
Total circulating supply – 989.97 million MOODENG
Maximum supply – 989.97 million MOODENG
Fully diluted valuation (FDV) – $262.35 million
Contract address – ED5nyyWEzpPPiWimP8vYm7sD7TD3LAt3Q3gRTWHzPJBY
The price of MOODENG has increased by 95% in the last 24 hours, making it one of the most successful meme coins. It is currently trading at $0.26, and the altcoin shows significant bullish momentum, with investors eager to capitalize on its rapid gains. This momentum could potentially lead to further price increases.
If the bullish trend continues, MOODENG could surpass the $0.35 mark and move towards $0.50 in the near future. The strong performance of the altcoin and growing demand indicate that it may maintain its upward trend if market sentiment remains positive and trading volumes high. However, after reaching a 4-month high, the meme coin MOODENG faces the risk of profit-taking. Selling pressure could cause a drop below $0.24, possibly to $0.18. If the downward momentum persists, the price could eventually fall to $0.12, nullifying the current bullish forecast.
dogwifhat (WIF)
Launch date – December 2023
Total circulating supply – 998.92 million WIF
Maximum supply – 998.92 million WIF
Fully diluted valuation (FDV) – $1.21 billion
Contract address – EKpQGSJtjMFqKZ9KQanSqYXRcF8fBopzLHYxdM65zcjm
The price of WIF has increased by 25% in the last 24 hours, trading at $1.18. The price movement of the altcoin largely depends on broader market signals. As the cryptocurrency market fluctuates, the performance of WIF is contingent upon how well Bitcoin and leading meme coins perform in the coming days.
If WIF follows the example of Bitcoin and other meme coins, it could break resistance at $1.24 and rise to $1.52. A rise to this level would attract new investors, significantly increasing market interest and potentially pushing the price further as momentum builds. However, unpredictable selling from WIF holders could change the current trend. If selling pressure increases, the price could fall below $1.04 and potentially reach $0.85. This could nullify the bullish forecast and halt the recent gains of the altcoin, leading to further uncertainty.
Small-cap corner – Pippin (PIPPIN)
Launch date – November 2024
Total circulating supply – 999.94 million PIPPIN
Maximum supply – 999.94 million PIPPIN
Fully diluted valuation (FDV) – $49.13 million
Contract address – Dfh5DzRgSvvCFDoYc2ciTkMrbDfRKybA4SoFbPmApump
PIPPIN has increased by 93% in the last 24 hours, establishing itself as a leading meme coin. With a market capitalization of $50 million, it is attracting significant interest from both smart money and retail investors. However, this interest is currently distorted by selling pressure, hindering further gains.
Nansen data indicates an influx of $1.9 million to exchanges over the last day. A low 3.13% batch purchase of PIPPIN, indicating a broad distribution of tokens, suggests a healthy distribution. These positive indicators could help PIPPIN overcome the resistance level of $0.052, potentially pushing the price to $0.064. However, excessive selling could derail PIPPIN's upward momentum. If profit-taking intensifies, the meme coin could experience a drop from $0.049 to $0.035, testing the next significant support level. A fall to this level would nullify the bullish forecast and signal a potential price reversal.#BinanceSquare #Write2Earn #Binance #TradeStories #NewsTrade $ETH