The memecoin market continues to record gains for the second consecutive day of the week. Currently, the total market capitalization of all tokens in this segment reaches $79.9 billion, equivalent to a 7.5% increase in just the past 24 hours.
This article will analyze 3 prominent memecoins worth monitoring for investors in the coming days.
Floki (FLOKI)
Launch date: March 2022
Total circulating supply: 9.66 trillion FLOKI
Maximum supply: 10 trillion FLOKI
Fully diluted valuation (FDV): $1.31 billion
Contract address: 0xcf0c122c6b73ff809c693db761e7baebe62b6a2e
FLOKI's price increased by 30% in the past 24 hours, reaching $0.000142, marking a five-month high. This impressive uptrend is helping this memecoin maintain a strong bullish trend, opening up new growth opportunities for investors.
As FLOKI's price rises, technical indicators are also beginning to show positive changes. The 50-day moving average (EMA 50) is trending upward and a golden cross with the 200-day EMA may soon occur.
If this crossover signal forms, it will further reinforce the bullish outlook, with the near target being $0.000148, suggesting that FLOKI's upward trend may continue in the near future.
However, FLOKI's bullish outlook still faces some risks. If selling pressure escalates, FLOKI could reverse.
A drop in price below the support level of $0.000114 would trigger deeper declines, with FLOKI potentially falling to the $0.0001 area. This would completely negate the current optimistic thesis for this coin.
Fartcoin (FARTCOIN)
Launch date: November 2024
Total circulating supply: 999.98 million FARTCOIN
Maximum supply: 1 billion FARTCOIN
Fully diluted valuation (FDV): $1.47 billion
Contract address: 9BB6NFEcjBCtnNLFko2FqVQBq8HHM13kCyYcdQbgpump
FARTCOIN has started to recover after losses in June, showing a strong increase of 20% in the past 24 hours. Currently trading at $1.55, this memecoin is nearing the completion of its recovery phase, preparing for potential growth as it approaches resistance areas and maintains its price uptrend.
Currently, the price is facing a resistance area at $1.75 and is attempting to break this level to fully recover the losses from June. If successful, FARTCOIN could establish a new high soon.
However, if FARTCOIN faces selling pressure from investors, the price could drop below $1.43. This reversal would push the price down to the $1.2 area, invalidating the current bullish outlook. Investors should be cautious about the risk of a price correction.
BOOK OF MEME (BOME)
Launch date: March 2024
Total circulating supply: 68.99 billion BOME
Maximum supply: 68.99 billion BOME
Fully diluted valuation (FDV): $159.16 million
Contract address: ukHH6c7mMyiWCf1b9pnWe25TSpkDDt3H5pQZgZ74J82
BOME has emerged as a surprising phenomenon in the memecoin market, rising 19% in the past 24 hours. Currently trading at $0.0023, this altcoin is attracting significant attention and asserting its position as a potential long-term candidate in the memecoin space, alongside more reputable coins like FLOKI.
The Parabolic SAR indicator is below the candles, indicating a bullish trend is prevailing with BOME. If the price maintains $0.0023 as a support level, it could move towards the $0.0026 area, opening up opportunities for further growth. This positive momentum will help BOME establish a new peak if market conditions remain favorable.
However, if BOME fails to hold the support level of $0.0023, this coin will face the risk of a price drop. The price could fall to $0.0018, erasing recent gains. This potential downtrend could nullify the bullish outlook, so investors should be cautious as volatility remains a concerning factor in the memecoin market.