Bitcoin is currently battling at the $60k mark, with significant FUD affecting meme coins like BONK, PEPE, and Floki. Market makers are taking advantage of the volatility to punish an overleveraged market, leading to thunderous dips. Investors holding meme coin portfolios are facing a challenging time, with the market experiencing extreme volatility. This makes it crucial for investors to be cautious and lock in profits when possible.
Animal-themed meme coins have gained popularity recently, with the Thai baby hippo, Moo Deng, capturing investors’ attention. This shift towards familiar animal meme coins has diverted interest from abstract projects to more recognizable ones. Analyzing the performance of top animal meme coins like PEPE, BONK, and Floki, it is evident that the market is experiencing significant fluctuations. Despite the choppy market conditions, some coins are showing strength and resilience heading into the weekend.
PEPE, trading at $0.00000906, is displaying strength as it reclaims the 20DMA at $0.0000089. The consolidation of support at this level, along with a cooling-off RSI, suggests upside momentum could resume. However, a bearish ‘death cross’ between the 20DMA and 200DMA on October 2nd has raised concerns. On the other hand, BONK, Solana’s favorite dog coin, is showing a more inspiring recovery chart with strong technical structure. Despite recent volatility, both PEPE and BONK are targeting higher support levels in the coming days.
Floki Inu, currently trading at $0.000134, has experienced a major reversal with a re-mounting of 20DMA support after a period of suppression. The bounce off long-term lower-trendline support has renewed confidence among holders, with the RSI indicating the potential for an upside jump. As the market heads into the weekend, Floki is eyeing higher support levels, providing hope for investors. Additionally, a new meme coin layer-2 project called Pepe Unchained has gained attention by addressing high gas fees and offering lower-cost and faster transactions, contributing to ecosystem growth with exciting development tools and grants for developers.
Pepe Unchained is not just a new layer-2 solution but an entire ecosystem aimed at enhancing meme coin activity. With a team of experienced developers and a crowd-funded presale that raised $17M, Pepe Unchained is set to shake up the crypto space. Investors have the opportunity to participate in this groundbreaking project and profit from the growth potential it offers. The success of Pepe Unchained’s presale indicates the high interest in this project among investors, making it one of the most exciting opportunities in the crypto space in 2024. Investors are encouraged to engage with the Pepe Unchained community to stay updated on the latest developments.
