- WIF might attain $4.36 and DOGE might deliver 19.17% upside.
- Bullish flags on the FLOKI and PEPE charts prompt additional upside.
- BONK is overbought, however SHIB could fail to retrace.
As earlier than, meme cash took heart stage after the market recovered from Could third to 4th. As standard, Dogwifat (WIF) led the pack with a rise of 20.58% in 24 hours. Dogecoin (DOGE) additionally rose 13.80%, whereas PEPE rose 12.93%.
FLOKI, BONK, and Shiba Inu (SHIB) additionally joined within the rally as their costs outperformed most different property available on the market.
WIF vs. DOGE
On the time of writing, WIF was priced at $3.32 and confirmed no resistance on the 4-hour chart. If this case continues, the bears could not have the ability to cease the bullish momentum on WIF.
The golden ratio of 1.618 indicated that Memecoin might goal $4.36 as the subsequent assist degree. Then again, DOGE can also be correlated with WIF. If this correlation stays the identical, DOGE is ready for a rise of 19.17%. Based mostly on the worth on the time of writing, DOGE might rise in direction of $0.18 within the brief time period.
WIF4 hour evaluation for DOGE (Supply: TradingView)
Nonetheless, merchants could must be cautious because the RSI signifies that WIF is overbought and DOGE can also be approaching an analogous level. As soon as revenue taking begins, the worth of digital currencies could fall. Then again, a bullish state of affairs might lead to increased worth.
Pepe vs. Floki
PEPE's market construction is much like WIF, and FLOKI was not excluded both. In keeping with the 4-hour chart, the breakout skilled by PEPE and FLOKI was on account of a bullish flag formation.
This occurred on account of vendor fatigue. So, if the worth of PEPE will increase, FLOKI is prone to do the identical. Additionally, if the worth of PEPE goes down, there’s a risk that FLOKI can be dumped. Moreover, the Superior Oscillator (AO) is optimistic, indicating that upward momentum is growing.
4-hour evaluation of PEPE towards FLOKI (Supply: TradingView)
Subsequently, the worth of PEPE is prone to proceed to rise, much like the worth of FLOKI. Moreover, on-balance quantity (OBV) elevated, suggesting there was robust shopping for strain to maintain the worth.
Bonk vs. Shiv
When evaluating the BONK chart and the SHIB chart, we discovered that there are variations within the traits. Costs moved collectively at some factors, however diverged at different occasions. Nonetheless, the Cash Circulate Index (MFI) on the BONK/USD 4-hourly chart confirmed that the token is overbought.
BONK 4-hour evaluation for SHIB (Supply: TradingView)
It is because the MFI studying was 89.99. Above 80.00 signifies that the asset is overbought. Whereas this quantity additionally signifies excessive capital flows, it’s doable that merchants will begin withdrawing their funds quickly, inflicting the costs of SHIB and BONK to fall.
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