Here’s Why Meme Coin Prices Are Pumping: PEPE, WIF, FLOKI

Meme coins are performing well this week on a day known as “Pepe Friday.” The price of Pepe itself is performing well, but there are a few other meme coins to keep an eye on this weekend. Let’s find out.

Meme Coin Price Prediction and Analysis

When we look at meme coin price performance this week, Top 6 coins by market cap show that 5 coins had a “green” weekWhile only DOGE is slightly in the red with a decrease of 1.5%. Memes have been a hot topic in this cycle, and today’s good performance is most likely related to the “PEPE Friday” event.

DogWifeHatt (WIF) has actually performed the best in this group, jumping 25%, followed by FLOKI, which has jumped 20%. PEPE has gained 12%, with most of that (10%) occurring today on PEPE Friday.

Jelle, who is a prominent crypto analyst with a following of 84,000 people on X, provided his analysis on the Floki token. For reference, the Floki price is currently trading around $0.00026, while its all-time high (ATH) is in the $0.0003 region. He believes that Floki’s price action has unfolded exactly as expected, with the token retesting its previous all-time high and now consolidating just below that level.

$floki It played exactly as expected 👀

It has again reached an all-time high, and is now consolidating just below it.

Some more consolidation is expected below the resistance level before a new all-time high is formed.

Patience.📈 https://t.co/htd2BCXuh2 pic.twitter.com/OnTnltUlQx

— Jelle (@CryptoJelleNL) May 31, 2024

Jelle expects some additional consolidation to occur below the resistance level before FLOKI eventually establishes new all-time highs.

An analyst known as “Free” on X, which has 21,000 users, shared a practical view of the meme coin space. Free acknowledged that identifying the next breakthrough like WIF or PEPE will become increasingly challenging due to the influx of new meme coins launching daily and the mid-cap category beginning to saturate.

Finding the next $wif Or $pepe It is going to be even tougher with all these new memes launching everyday and the mid cap category getting a bit saturated

I also have a feeling there will be another one $wif Or $pepe before the end of the cycle

Have to stay focused.

— free (@free_electron0) May 31, 2024

However, Free expressed the sentiment that despite these challenges, there is a strong possibility that another meme coin project will achieve similar success as WIF or PEPE before the end of the current market cycle.

Technically, the indicators for PEPE are bullish, as the MACD line is now above the MACD signal line, and the RSI is around 60, indicating potentially more upside.

As far as meme coin price predictions are concerned, PEPE, FLOKI, and WIF (currently at $3.5) could continue their upward movement in the short term, especially with the meme coin hype around “PEPE Friday.”

The next meme coin to watch in June?

YouTuber Jacob Bury, who has 40,000 subscribers, highlighted a new meme coin project called PlayDoge in today’s video. The project aims to combine the play-to-earn and meme coin markets, taking inspiration from the nostalgic Tamagotchi virtual pet concept. PlayDoge has certainly attracted some investors, successfully raising $600,000 in just a few days. Hot Crypto Presales Now.

According to Burry, rewards for early investors will gradually decrease as more liquidity is pumped into the project. However, PlayDoge boasts a well-structured tokenomics model, with a carefully planned allocation of tokens for presales, community rewards, and marketing initiatives. The project’s roadmap includes preparing for future listings on both decentralized and centralized cryptocurrency exchanges.

conclusion

With the surge in the price of PEPE, the price of WIF and other meme coin prices, events like “PEPE Friday” and the overall market hype, it is clear that the meme coin craze is far from over. While price predictions are always speculation, the enthusiasm of the community and the potential for another breakout meme coin like PlayDoge suggest that this sector remains one to watch, especially as we approach the next leg in this bull cycle.

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