The crypto market entered the weekend going through one other correction, and meme cash felt the impression, 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 Value Predictions – Prime Analysts Weigh in on VanEck’s Index
Chilly Blooded Shiller, a preferred analyst with over 274ok followers, shared his meme coin value predictions yesterday. He considered Pepe because the “strongest chart”, saying it reclaimed a significant resistance stage. Pepe value is round $0.0000083 at press time, barely beneath its March all-time excessive of $0.00001.
Just a little VanEck Memecoin Index thread.
Most markets have both already reclaimed help/highs or they’re able to take action.
We’ll begin with the strongest chart imo, $PEPE.
Big reclaim and one of many first markets to interrupt the primary resistance overhead. pic.twitter.com/7wbIzYdGRp
— Chilly Blooded Shiller (@ColdBloodShill) Could 10, 2024
For Bonk, Shiller referred to as it the “second strongest”, noting an identical reclaim as Pepe however not but breaking the subsequent resistance. Bonk value 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 essential to carry, with actual draw back threat if it loses $2.20 help. WIF value is round $3.04 presently, down 5% within the final 24 hours.
CrediBULL, one other fashionable analyst with a following of practically 400ok on X, additionally shared his bullish outlook on dogwifhat (WIF) value 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 value has been making increased lows.
Risking 25ok on a $WIF lengthy right here.
We’ve got clear spot absorption right here as could be seen with spot CVD making decrease lows whereas value is making increased lows.
In the meantime we’ve what appears to be plenty of underwater shorts that piled in on the earlier transfer down.
If the market goes… pic.twitter.com/6lgaLaoGNE
— CrediBULL Crypto (@CredibleCrypto) Could 10, 2024
Moreover, CrediBULL pointed to what seems to be a major variety of underwater brief positions that collected 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 doubtless rally onerous. Floki value 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 value is round $0.000022, off 3.35%.
$SHIB is similar.
Quite simple execution for this one, going to make use of the very properly revered diagonal, await the impulse after which imagine it. pic.twitter.com/bEfZ6I1dMB
— Chilly Blooded Shiller (@ColdBloodShill) Could 10, 2024
Lastly on Dogecoin, Shiller famous the “bother round $0.165” resistance however mentioned it stabilized after sweeping March lows, suggesting ready for that push increased. DOGE value is round $0.14 at press time, down 4.5% after failing to interrupt $0.20 twice this yr.
Answem, an analyst boasting practically 400ok 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 $100ok market cap in December https://t.co/hGbw2hOErq
— Ansem 🐂🀄️ (@blknoiz06) Could 8, 2024
He famous that WIF, which had a mere $100ok market cap in December, has now secured a spot in VanEck’s official meme coin index.
Finest Meme Cash to Purchase Now
Jacob Bury, a preferred YouTuber with 38ok 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 venture that enables customers to entry the token on six main blockchains: Ethereum, BNB Chain, Polygon, Solana, Avalanche, and Base.
This multichain strategy provides flexibility in selecting the blockchain primarily based on particular person wants when it comes to value and velocity. Over $15 million has been raised to date within the presale, and this meme coin is getting ready for its launch on exchanges quickly.
One other new and fashionable 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 venture that makes use of AI know-how to allow seamless swaps and function an AI-powered buying and selling associate. As soon as the presale is over, it’s going to launch on exchanges, however you’ll be able to presently purchase it at a reduced value of 1 $WAI = $0.000705.
Conclusion
All in all, traders would possibly doubtlessly maintain an in depth 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 look at like Dogeverse and WienerAI may doubtlessly current an funding alternative throughout their presale levels.
Associated
- Prime Meme Coin Value Predictions Could 10
The publish 6 VanEck Meme Coin Index Value Predictions – BONK, DOGE, FLOKI, PEPE, SHIB, WIF appeared first on ReadWrite.
