Meme coins are gaining momentum even in a bearish market, as Bitcoin reclaimed a support level of $105,000, boosting optimism about altcoins. Among meme coins, Joe Coin tops the list with a 26% increase.
BeIn analyzed two additional meme coins for investors to follow, to assess whether they are likely to achieve further gains or potential losses.
Coin ($PEPE )
Launch Date - April 2023
Total Circulating Supply - 420.69 Trillion PEPE
Max Supply - 420.69 Trillion PEPE
Fully Diluted Valuation (FDV) - $4.38 Billion
PEPE has decreased by 22% over the past week, currently trading at $0.00001037 and facing resistance at $0.00001059. Despite this recent decline, the meme coin shows potential for recovery.
The Ichimoku Cloud indicator suggests that the bullish momentum for the PEPE coin is still strong. This technical analysis indicates a potential rebound, with the altcoin possibly rising to $0.00001152. If PEPE can overcome the resistance at $0.00001059, it may regain its bullish momentum and attract more investor interest.
PEPE Price Analysis.
However, if bearish market conditions persist overall, the price of #PEPE may experience further declines. A drop below $0.00000917 indicates weakness in the altcoin market, negating the current bullish outlook. This is likely to lead to greater losses for investors in the near term.
MOG Coin ($MOG )
Launch Date - July 2023
Total Circulating Supply - 390.56 Trillion MOG
Max Supply - 420.69 Trillion MOG
Fully Diluted Valuation (FDV) - $354.93 Million
MOG Coin is currently trading at $0.000000899 and struggles to maintain the local support level of $0.000000901. The MOG coin has seen significant volatility over the past month, affecting investor confidence. Despite these fluctuations, MOG may still be able to recover if the market stabilizes.
Given the overall improvement in market conditions, MOG has a greater chance of reclaiming the support level at $0.000000966. A shift in sentiment could allow the altcoin to recover and stabilize. If the market continues to show strength indicators, MOG could surpass current resistance levels.
MOG Coin Price Analysis.
However, if investor panic prevails and selling pressure increases, the #MOG coin may drop below the support level of $0.000000901. A decline to $0.000000796 would negate the current bullish outlook. In this case, the meme coin is likely to face further losses, signaling more declines in the short term.
Small Cap Corner - Joe Coin ($JOE )
Launch Date - October 2023
Total Circulating Supply - 1 Billion JOE
Max Supply - 1 Billion JOE
Fully Diluted Valuation (FDV) - $46.89 Million
The Joe Coin has risen by 26%, reaching $0.046 at the time of writing this report, making it one of the best-performing altcoins. Its rise during the day pushed the altcoin briefly above $0.050, demonstrating strong bullish momentum. This price movement reflects increasing investor interest in Joe Coin as a promising asset in the market.
Joe Coin enjoys support from nearly 9,000 holders, who maintain their positive outlook towards it. Over the past 24 hours, the most profitable and loss-making traders have accumulated over $339,000 worth of JOE, boosting confidence in its potential. This accumulation is a key indicator of ongoing market interest.
JOE Price Analysis.
This bullish trend #JOE may consider the support level at $0.050, paving the way for further gains. If the meme coin maintains this level, it may continue its upward trajectory. However, if investors begin to withdraw funds, JOE may retreat to $0.039, negating the current bullish outlook and possibly reflecting its momentum.
