Memecoin Outperform AI-Tokens, WIF, BRETT & BONK Price While DOGE & SHIB Consolidate
Memecoin Rally Led by dogwifhat (WIF), Followed by Bonk (BONK) & Brett (BRETT)
Market dynamics have shifted as memecoins outperform popular AI tokens like AGIX and FET. The start of the day’s trade saw AI tokens initially leading with a 20% rise, but soon, memecoins took over. At present, the dogwifhat (WIF) price is spearheading the rally, followed closely by Bonk (BONK) and Brett (BRETT). Additionally, other memecoins are also gaining momentum, suggesting they are outperforming well-known tokens like DOGE and SHIB.
What’s Next for Memecoins? Will They Close the Month on a Bullish Note?
dogwifhat (WIF) Price Eyes at 30% Rise
The dogwifhat (WIF) price experienced a 50% pullback after struggling within the crucial resistance zone between $3.2 and $3.5. Despite the bearish trend, the token showcased a strong rebound at a critical point, igniting bullish momentum. This sets the stage for a potential ‘v-shape’ recovery, which might close the month positively.
After initially launching, the price consolidated within a range, eventually breaking free. The recent rebound suggests the possibility of reaching the upper resistance, corroborated by the bullish reversal of the RSI (Relative Strength Index). However, the DMI (Directional Movement Index) remains neutral, though it appears to be heading towards a bullish reversal. As a result, the WIF price may consolidate temporarily before potentially rising beyond $2.
Brett (BRETT) Advances to New Highs Above $2
The Brett (BRETT) price has been trading within a rising wedge, showing resilience along its lower support. Despite slipping below the wedge, price bulls are defending the lower zone between $0.128 and $0.121, aligning with the 0.618 FIB level at $0.125.
Technicals have turned bullish, indicating an imminent 20% upswing. While trading between the 0.618 and 0.786 FIB levels, the RSI displayed a bullish divergence. This initiated a rebound, yet with limited buying volume, BRETT's price might consolidate before breaking past its current resistance of $1.55.
Bonk (BONK) Price Eyes a New ATH (All-Time High)
Among memecoins, Bonk (BONK) stands out with robust bullish trends. Despite intermittent bearish activity, the BONK price has maintained an upward trajectory. After dipping below $0.00002, BONK initiated a rebound and is currently testing mid-range patterns.
The trading volume remains average but is dominated by bulls, suggesting the trend will stay inflated. Additionally, the RSI has rebounded, and the MACD (Moving Average Convergence Divergence) is nearing a bullish crossover. Consequently, a 30% price increase is anticipated soon.
Conclusion
The memecoin market is experiencing significant gains, with dogwifhat (WIF), Bonk (BONK), and Brett (BRETT) leading the charge. These tokens appear to be on track to close the month on a bullish note, outperforming popular tokens like DOGE and SHIB. Market participants should watch these trends closely as memecoins continue to attract attention and investment.
