🚀 Memecoin Market: Can $PEPE, $WIF, and $FLOKI Survive the Crypto Correction? 🐸🐕🦺
🚀 Memecoin Market, 6 September’24
The recent crypto correction has hit Memecoins hard, but there’s still hope for a bullish breakout! Despite the downturn, $PEPE, $WIF, and $FLOKI are standing strong above their key support levels. As the market waits for Bitcoin ($BTC) to turn around, these Memecoins may be poised for a comeback.
$PEPE Holding Strong 🐸💪
$PEPE is showing resilience, holding firmly above its strong support at $0.00000590. The weekly chart reveals a steady upward stair-step pattern, with price action respecting these levels beautifully. With the fibonacci 0.786 level providing additional support, $PEPE looks primed for a surge – but only if Bitcoin leads the charge. Should $PEPE maintain its top stair step, it could take off toward new highs. However, a dip below this support could spell trouble, with the next level down sitting all the way at $0.00000160.
$WIF’s Bull Flag Formation 🚩📈
Although $WIF is down 3.5% today, the long-term outlook on the weekly chart is still optimistic. The bull flag formation continues, with resistance at $1.60 just waiting to be broken. If $WIF clears this hurdle, the next challenge lies at the confluence of the fibonacci 0.618 and the top of the flag. A breakout here could lead to a blue sky rally, with new price discoveries on the horizon. Meanwhile, the Stochastic RSI is climbing, signaling that momentum is building – a breakout may be imminent!
$FLOKI’s Battle with the Downtrend 🐕🦺⚔️
The chart for $FLOKI still shows a downtrend, with lower highs persisting. The price is flirting with the fibonacci 0.786 level, which has already been tested twice. If $FLOKI breaks below this, it could drop down to the base level at $0.00004. However, the Stochastic RSI is showing signs of life. If it can rise above the previous high at the 20 level, it could signal a reversal and ignite a fresh rally for $FLOKI.
While the correction has been tough, these Memecoins are holding key levels, and their next moves will likely be dictated by Bitcoin’s action. Will the memecoin market roar back to life? 🌟
Disclaimer: This content is for informational purposes only and should not be considered legal, financial, or investment advice.
- Follow US on LinkedIN