With Bitcoin successfully reclaiming the $67K level, mid-cap altcoins have shown a strong bullish reversal in their respective portfolios. Moreover, meme cryptocurrencies have shown similar price action by adding significant value to their respective portfolios.
Scroll down, as in this article we have covered the top two memecoins that have the potential to dominate the memecoin craze during the upcoming crypto bull run.
Dogwifhat (WIF) Price Analysis:
Amidst the growing bullish sentiment, WIF price has seen a 6.79% increase over the past week and a 29.49% increase over the past 30 days. Moreover, with a return of 1,598% year-to-date and a market cap of $2.591 billion, the cryptocurrency is ranked 33rd in the global cryptocurrency list.
The SMA indicator has shown a bearish crossover on the D timeframe. Moreover, the MACD technical indicator is showing a continuous decline with its averages recording a neutral trend. This indicates a weak memecoin price action in the market.
If the market regains momentum, WIF price will break its resistance level and head towards the high of $4. However, in case of a downward move, dogwifhat price may drop towards the low of $2.
BONK Price Analysis:
Bonk is the second most successful meme coin on the Solana blockchain, adding 22.37% to its value over the past 30 days and gaining around 110% this year. Moreover, the meme coin has successfully tested its important support level at $0.0000270, indicating strong bullish sentiment.
The Relative Strength Index (RSI) has retested its midpoint and is about to register a bullish crossover on the 1D timeframe. This indicates a high probability of a bullish reversal in the coming weeks.
If the market sustains the BONK price above the important support level of $0.0000270, the bulls will be preparing to test the upper resistance level of $0.00003390. Conversely, if the bears regain the momentum, memecoin will decline towards the low of $0.00002125.