With Bitcoin heading above the $63k mark after a bearish first week of October, the meme coins are scaling to new heights. Ignoring the chances of a World War, the crypto market seems to be preparing for its historic October rally.
Under such conditions, the top three meme coins mentioned in this analysis have made new all-time highs or given breakout rallies. So, let’s look at these top coins for a bull run this week.
POPCAT (POPCAT)
In the daily chart, the PopCat token shows a triangle breakout rally that is finally gaining momentum. After a minor slump near the psychological mark of $1, the consolidation range picks up bullish momentum.
Amid the broader market recovery, the underlying resilience, which avoided a crash during the broader market pullback, has led to a new all-time high. Currently, the PopCat is trading at $1.41, with an intraday gain of 1.76%. However, the meme coin has formed four consecutive bullish candles, accounting for almost a 50% surge.
Based on using the trend-based Fibonacci retracement tool, the triangle breakout rally has topped the 1.618 Fibonacci level at $1.39. Using the retracement tool, the next target for the meme coin stands at $1.844 and the $2 psychological mark.
Technical indicators like the 50-day EMA maintain a positive trend, with the MACD and signal lines surging higher.
MOG (MOG)
In the 4-hour chart, the MOG coin shows a bullish reversal gaining momentum. With a rounding bottom reversal, the MOG token Hinsetton reflects a price action similar to an inverted head-and-shoulder pattern.
The neckline for the rounding bottom reversal stands at 61.80% Fibonacci level near $0.0000017211. Currently, the MOG coin is trading at $0.000001702 with an intraday gain of 9.30%. This marks the second consecutive candle following the 7.30% jump last night.
With a potential rounding bottom breakout, the bullish closing above the neckline will put the 100% Fibonacci level at $1.272 and $1.618 Fib levels as potential price targets at $0.00000235, $0.000002805, and $0.000003379, respectively.
The MACD and signal lines narrowly escape a bearish crossover and are gaining bullish alignment as the trend momentum revives.
Dogwifhat (WIF)
The falling wedge breakout rally in the WIF token is gaining momentum and has surpassed the 38.20% Fibonacci level. The bullish recovery marks a golden crossover between the 50-day and 200-day EMA.
Furthermore, the MACD and signal line avoid a bearish crossover, regaining positive alignment with a surge in bullish histograms. The meme coin is currently trading at $2.65 with an intraday gain of 3.54%. This comes after the 13.86% jump last night, creating a bullish engulfing candle.
The meme coin reveals a quick V-shaped reversal in the short term and is heading towards the 38.50% Fibonacci level at $2.91. As the falling wedge breakout rally gains momentum, the possibility of the meme coin reaching its pinnacle at $4.85 increases.
Hence, the meme coin is likely to create a new all-time high in the coming times if the broader market recovery sustains. Based on the Fibonacci levels, the upcoming price targets in the short term for the meme coin stand at $3.31 and $3.86. In the long term, the meme coin has the potential to hit $6.63 at the 1.618 Fibonacci level.
Keen on stacking some WIF? Get the potential price targets in our WIF Price Prediction
