The memecoin is leveraging the price increase recorded over the past week, with several tokens reporting gains exceeding 100%.
Next week could witness more price increases if the US CPI data supports the crypto market.
Next, let’s analyze three memecoins that investors should watch in the upcoming period with Bitcoin Magazine.
Osaka Protocol (OSAK)
OSAK has surged 44% in the past week, trading around $0.000000196. However, this memecoin is currently facing resistance at $0.000000210, hindering further upward momentum.
The Exponential Moving Average (EMA) is currently forming a Golden Cross, signaling a bullish trend. This technical indicator suggests OSAK may soon surpass the resistance level of $0.000000210, with potential to rise to $0.000000234.
If this happens, OSAK could reach its highest level in weeks, attracting more attention from investors.
If market conditions become unfavorable, OSAK may continue to face consolidation. In this case, the price could drop back to $0.000000164, invalidating the growth outlook.
Troll (TROLL)
TROLL has soared 132% in the past week, establishing a new ATH at $0.250 during this bullish run.
If interest continues to rise, TROLL could aim to sustain its growth momentum, pushing the price above the ATH at $0.250, paving the way for a new ATH near $0.300.
However, if investor sentiment turns bearish, TROLL may face selling pressure.
Currently, TROLL has lost over 13% in the past 24 hours, falling back below the $0.17 mark. Dropping below the support level of $0.174 and failing to recover this level could lead to a deeper decline, potentially pulling the memecoin down to $0.104.
This move will invalidate the bullish outlook, signaling a potential market correction.
BUILDon (B)
BUILDon has jumped 33% in the past week, with a 13% increase in the last 24 hours.
Recently, this memecoin has set a new ATH at $0.675, reflecting the strong growth momentum of the market. This breakout signals potential for further growth if the upward trend continues.
Currently, BUILDon is trading above the support level of $0.646. Bouncing off this support level could help the memecoin surpass its ATH with a target of $0.700.
Breaking this psychological level presents further growth opportunities if overall market conditions remain favorable and investor confidence remains strong.
However, if BUILDon cannot maintain its price above $0.646, it may face downward pressure. Dropping below this support level would bring the price close to $0.572, erasing much of the recent gains.
This scenario will invalidate the bullish outlook, potentially signaling a market correction.