The сrypto world has a special place for meme coins as it attract trades with their volatility and strong gains. Over the past week, meme tokens such as Dogecoin, Shiba Inu, and a few emerging coins like Dogwifhat and Notcoin have shown significant fluctuations, with price movements ranging from surges of 16% to losses exceeding 10%.
In this article, we have discussed the key events and forecasts of the topmost-performing meme coins of the week as of October 25. We have judged the price influencing factors for investors based on market indicators like the Fear and Greed Index, EMA and RSI. Read on to know more about how the week went for meme coin and its supporters.
Dogecoin (DOGE)
Price Change: Dogecoin has seen a 7.6% price increase over the last 7 days as it trades at $0.1381 with $1.18 billion trading volume.
News: This meme coin had a weekly average price of $0.14214 with the highest and lowest trading points being $0.14983 and $0.13671 respectively. As of October 25, it is trading just above the lowest point of the week with a market cap and trading volume going down 2.25% and 22.32% respectively.
Forecast: At present DOGE is hovering around the support at at $0.13812. The dog-themed meme coin is likely to continue its upward trend as it moves towards the $0.16121 resistance level. It currently has a trading volume of $1.18 billion and a market cap of $20.25 billion.
Shiba Inu (SHIB)
Price Change: Despite a 6.08% slowdown in the last 7 days Shiba Inu is one of the top most performers as it trades at $0.00001773 with a $206.13 million trading volume.
News: SHIB traded between $0.00001774 and $0.00001996 levels. While the meme coin has been following a bullish trend for over a month now, rising 22% in value, it is gradually steadying this week. The coin has a market cap of $10.41 billion as of October 25.
Forecast: At present, Shiba Inu has a stochastic oscillator near 20.38 and a relative strength index of 39.35 both of which point towards an upward movement trend. If it breaks the nearest resistance level of $0.00002087 then it will further surge towards the $0.00002309 target. Along with Dogecoin, SHIB has a chance of surging in the upcoming weeks as the altcoin season is approaching. The bullish run in the global crypto market can further foster gains for both the meme coins.
Pepe (PEPE)
Price Change: Pepe prices have decreased nearly 8% in the last 7 days. In the last 24 hours, PEPE has seen a 2.50% price loss as it trades at $0.059636. As of October 25, it has a trading volume of $500.46 million.
News: This meme coin has been following an uptrend all through October as it found support level at $0.000008992 support. PEPE surged using a rising channel pattern but in the last 7 days, bearish sentiments have kicked in, causing the price to plummet which has made it reach a consolidation phase. As of October 25, the meme coin is exhibiting 86% bullish and 14% bearish sentiment.
Forecast: With Pepe prices going below the 50-day and 200-day Simple Moving Averages (SMAs), there are chances of a further downward trend. The 38.98 RSI of PEPE is nearing the below-30 oversold region which further indicates bearish movement.
Dogwifhat (WIF)
Price Change: Like Pepe and Shiba Inu, Dogwifhat has also seen a downward trend this week with prices going down by 6.39% in the last 7 days while it trades at $2.48.
News: WIF began the week as the third largest meme coin but it slid to 4th position by the end of it. The coin lost 2.08% of its value over the last 24 hours, including a 20.80% loss in its trading volume and a 2.09% market cap decrease as of October 25.
Forecast: Despite the downward trend in the last 24 hours, dogwifhat actually gained in price and trading volume on October 23-24. This is in line with the neutral sentiment of the meme coin even though it has a Fear & Greed Index of 69 which indicates that market participants are greedy towards it. Analysts forecast that dogwifhat could aim for the $2.908 and $4.436 resistance levels if the current sentiments persist.
Bonk (BONK)
Price Change: Bonk takes the 5th spot in the best-performing meme coins list this week despite a 6.75% decrease in its prices in the last 7 days as it trades at $0.00002197 on October 25
News: Bonk has experienced a 23.60% loss in its trading volume over the last 24 hours reaching $121.79 million on October 25 while its market cap has decreased by 2.72% to touch $1.63 billion.
Forecast: As per the ongoing price trend Bonk is expected to reach $0.00002566 and $0.00004082 resistance levels next. However, if the trend reverses, it will go down to seek support at the $0.00001514 resistance level. As of October 25, market sentiments for BONK is 80% bullish and 20% bearish.
Popcat SOL (POPCAT)
Price Change: Popcat prices have surged by nearly 7% this week as it trades at $1.47 on October 25.
News: Despite the surge in its price this week, POPCAT is losing them steam for the last 24 hours as its value decreased by 8.58%. The market cap and the trading volume of the meme coin are also running downhill as they went down by 8.53% and 43.22% respectively. As of October 25, POPCAT has a trading volume of $152.37 million and a market capitalization of $1.44 billion.
Forecast: With a Fear and Greed Index score of 69, Popcat is running on bullish sentiments as traders flock to buy the token. The market volatility is also moderate with a 14.74% fluctuation this month. All of this has made crypto analysts forecast that the meme coin’s price will hit $5.42 in a month’s time, on November 23. This marks a 241.13% rise from the current position.
FLOKI (FLOKI)
Price Change: FLOKI has gone down 7.32% this week to trade at $0.000141 on October 25.
News: In the last 24 hours, the meme coin’s market capitalization and trading volume have both decreased along with its price. At present, FLOKI has a trading volume of $119.24 million, down by 12.75% and a market cap of $1.35 billion, down by 2.43%
Forecast: Analysts say that FLOKI’s bullish sentiment will continue, its current downward trend is because of higher lows that it has formed recently. Traders have been advised to be patient about this meme coin. As it has turned the 200-day EMA into a support. As of October 25, FLOKI harbours 83% bullish and 17% bearish sentiments.
Brett(Based) (BRETT)
Price Change: This meme coin has also followed a downward trend this week as it decreased 10.60% in value in the last 7 days to trade at $0.09759 on October 25.
News: The meme coin’s trading volume has gone down by 10.84% in the last 24 hours to reach $67.23 million while its market cap has decreased by 2.69% to touch $967.34 million.
Forecast: Despite its current bearish trend Brett(Based) has made a significant recovery from its September bearish trend with a 60% surge over the month. On October 23, it registered an 11.44% surge in its trading point over 48 hours as it reached $0.09911. With a Greed Index score of 71, BRETT is likely to grow in the coming weeks as buyers spend on this coin.
cat in a dogs world (MEW)
Price Change: Cat in a dogs world has increased 16.37% this week as it traded at $0.01063 on October 25.
News: MEW has been going downhill in the last 24 hours as its price decreased by 5.35% in the last 24 hours along with a 23.11% slump in trading volume and 5.34% decline in market cap. At present, the meme coin’s trading volume stands at $354.89 million while market capitalization is at $946.47 million.
Forecast: The open interest of MEW has gained 59% to exceed $211 million in the last 24 hours after Bitstamp announced new trading support for it on October 24. The liquidation also touched $2.47 million with most of it coming from the $1.79 million worth of short liquidations. All this shows a bullish upward trend for the token. Furthermore, the 61.36 RSI and the price going above the 9-day EMA indicate it's nearing the overbought levels which vindicates the upward movement prediction
Notcoin (NOT)
Price Change: Notcoin has decreased by nearly 11% this week to reach $0.007359 on October 25.
News: This meme coin’s price has declined by 3.50% over the last 24 hours along with a 4.56% decrease in trading volume and a 3.45% reduction in the market cap. At present, NOT has a trading volume of $65.98 million and a market capitalization of $756.08 million.
Forecast: Since Notcoin is extensively used for gaming and for buying web3 products along with increased utility in telegram-based transactions, it is likely to grow in demand which further vindicates 84% bullish and 16% bearish sentiment for this meme coin. NOT has turned into a positive token which can be seen in how it surged 9% on October 23-24. The coin follows a double-bottom pattern which signals breakout after periods of decline when it clears resistance levels. With 59% of crypto traders trying to hold this meme coin for longer periods Notcoin is likely to surge upward in the coming days.
Conclusion: As the meme coin market takes up space in the crypto world with bullish surges and risky patterns ahead, tokens like DOGE and SHIB will retain the spot as strong contenders because of their trading indicators and support levels. While meme coins like FLOKI and PEPE might pose short-term risks as they go bearish, MEW and NOT reflect the evolving interest of crypto investors. Hence, meme coin enthusiasts should keep an eye on potential new breakout periods and changing price patterns to make the most of it.