Just like the broader crypto market, most meme cash carried out terribly all through February. The drawdown witnessed by these meme tokens even led to some forming new all-time lows. Nonetheless, there is a chance on this downtrend that’s seemingly coming to an finish.
BeInCrypto has analyzed 5 meme cash that would make their manner again up and recuperate their losses in March.
Daddy Tate (DADDY)
DADDY has stunned the market this week with a 70% worth enhance, recovering February’s losses and extra. The altcoin is presently buying and selling at $0.054. This rally marks a shift in investor sentiment, doubtlessly signaling additional upside if the present momentum persists.
DADDY is now eyeing an extra rally, doubtlessly breaching the $0.068 resistance. This degree has been a problem for the meme coin since mid-December, however with bullish components driving the worth, it could lastly break via. The continuation of this uptrend is dependent upon sustained investor confidence.
Nonetheless, if DADDY fails to carry the assist of $0.054, the worth could fall again to the $0.045 assist degree. A deeper decline might invalidate the bullish outlook, doubtlessly triggering a shift in sentiment and setting the coin again additional.
Pepe (PEPE)
PEPE continues its downtrend, buying and selling at $0.00000718 after beginning this decline in November 2024. The altcoin’s worth stays underneath strain, however the state of affairs might shift. Notably, PEPE has a robust correlation of 0.89 with Bitcoin, doubtlessly setting the stage for a restoration if BTC rebounds.
With Bitcoin doubtlessly nearing a market backside, PEPE may benefit from its restoration. If Bitcoin features momentum, PEPE is prone to observe go well with. A key marker for this could be PEPE flipping $0.00000951 into assist and finally surpassing the $0.00001146 resistance degree, signaling additional upside.
If the downtrend persists, PEPE faces the danger of falling beneath its $0.00000748 assist. A breakdown via this degree might result in a take a look at of $0.00000632, additional invalidating the bullish thesis and signaling a deeper decline.
Popcat (POPCAT)
POPCAT has made a notable restoration, presently down simply 9.5% over the month, buying and selling at $0.265. The altcoin goals to breach the resistance of $0.342, with potential for additional upside. A profitable breakout might result in vital features, particularly if market sentiment continues to enhance.
In earlier market cycles, a bounce off the $0.238 assist, coupled with bullish indicators, has fueled rallies as much as $0.645. The ADX presently sits beneath the 25.0 threshold, indicating weakening bearish momentum.
If POPCAT follows an identical sample, this shift might set the stage for a 129% rise.
Nonetheless, if POPCAT fails to breach $0.342, it could return to its assist ranges at $0.238 and even $0.203. Such a drop would invalidate the bullish outlook, signaling continued consolidation or additional losses.
Peanut The Squirrel (PNUT)
One other one of many high meme cash, PNUT, has outperformed expectations with a 56% rally this week, reaching $0.226 and erasing February’s losses. The altcoin is now specializing in securing $0.227 as a secure assist degree. Sustaining this degree can be essential for continued upward momentum and worth stability within the quick time period.
With $0.227 efficiently established as assist, PNUT might leverage the enhancing market circumstances and investor confidence to rise towards $0.442. This restoration would considerably offset the losses suffered in January, doubtlessly positioning the altcoin for additional features if market traits stay favorable.
Nonetheless, if PNUT fails to safe the $0.227 assist flooring, the altcoin dangers falling again to $0.142. Such a decline would invalidate the bullish outlook, prompting additional consolidation and elevating considerations over a sustained restoration.
Pudgy Penguins (PENGU)
PENGU hit a market backside in February, forming a brand new all-time low of $0.0067 amid bearish circumstances. Regardless of this, the altcoin has proven resilience and could possibly be making ready for a possible rebound.
After bouncing again by 24.6% this week, PENGU is presently buying and selling at $0.0090 and concentrating on a breach of the $0.0100 degree. If this resistance is overcome and flipped into assist, the altcoin might attain $0.0147. This is able to assist recuperate most of February’s losses, signaling a optimistic outlook.
Nonetheless, if PENGU fails to interrupt the $0.0100 barrier, it dangers consolidating above its all-time low of $0.0067. On this case, the bullish thesis could be invalidated, doubtlessly resulting in additional losses and undermining investor confidence within the quick time period.
Disclaimer
According to the Belief Undertaking pointers, this worth evaluation article is for informational functions solely and shouldn’t be thought of monetary or funding recommendation. BeInCrypto is dedicated to correct, unbiased reporting, however market circumstances are topic to vary with out discover. At all times conduct your personal analysis and seek the advice of with knowledgeable earlier than making any monetary choices. Please word that our Phrases and Situations, Privateness Coverage, and Disclaimers have been up to date.