The extremely anticipated altseason is lastly underway, as evident by the quickly falling Bitcoin Dominance (BTC.D) and a robust rally within the ETHBTC buying and selling pair.
Capital is rotating out of Bitcoin and into higher-beta altcoins, with meme cash main the cost as soon as once more.
The favored Solana meme coin, SPX6900 (SPX), is again among the many prime gainers, hitting a brand new all-time excessive of $1.90 late on Wednesday.
The SPX worth surged by over 12% on Wednesday regardless of a pullback within the closing hours.
With a broad-based altcoin rally now underway, sidelined traders are speeding to spend money on undervalued meme cash.
Contemplating that the likes of Dogecoin and Shiba Inu can solely provide restricted returns attributable to their excessive market capitalization, sensible cash traders are closely investing in mid-caps like Moo Deng and Ineffective Coin and low caps like TOKEN6900.
SPX6900 Worth Prediction – FOMO Purchase Now or Wait For a Higher Entry?
SPX6900 continues to be probably the greatest meme coin investments, additional confirming that no-utility memes like Pepe and Fartcoin will likely be among the many prime performers of this bull cycle.
After almost every week of consolidatory worth motion, the SPX worth hit one other all-time excessive, peaking at $1.90 and a totally diluted market capitalization of $1.90 billion.
SPX broke by way of the important thing $1.70 resistance stage in Wednesday’s rally. Furthermore, the meme coin seems to be shifting inside an ascending broadening wedge, as is proven within the worth chart above.
SPX6900 seems to have rejected from the higher trendline of the wedge, and will subsequently see a pullback to the $1.70 S/R stage. A profitable retest of this assist would current a superb shopping for alternative and stop a deeper pullback to the decrease trendline.
Quite the opposite, sidelined traders also can purchase if the meme coin breaches the higher trendline of the wedge proven within the worth chart above. Certainly, SPX’s each day RSI is at 67 and the 4-hour RSI is at 63, each indicating that the token nonetheless has important short-term upside.
Nevertheless, opening a leveraged lengthy commerce right here would nonetheless be a dangerous proposition, and merchants ought to ideally await a profitable retest of the $1.70 S/R.
Nonetheless, SPX stays a sexy meme coin funding in the long run. Well-liked dealer Astekz has known as its worth chart “the perfect chart available in the market”.
In a current SPX6900 worth prediction, legendary dealer Bluntz has used Elliot Wave evaluation to present a worth goal of $2.30 for July.
The bulls proceed to assert that SPX will attain $10 in 2025 because it continues to be one of many prime gainers within the ongoing bull cycle.
Which Meme Cash Are Undervalued Proper Now?
Those that aren’t analysing charts each day could have missed Wednesday’s SPX6900 rally, owing to its consolidatory worth motion over the previous week.
As sidelined traders hunt for undervalued meme cash, Moo Deng has emerged as a sexy purchase. Information from Stalkchain reveals that it was probably the most purchased token by sensible cash wallets on July sixteenth. Such accumulation usually precedes a breakout.
A breach of the $0.215 resistance might set off an explosive rally.
Equally, sensible cash traders ought to preserve a watch out for any dips within the Ineffective Coin. Very like Fartcoin and SPX6900, it is usually a high-upside, no-utility meme coin.
Actually, a low-cap various, TOKEN6900 (T6900), could also be the perfect meme coin to spend money on the no-utility meta.
TOKEN6900 is a real low-cap gem. Its ongoing presale has a tough cap of $5 million. Even these shopping for on the finish of the presale might see a number of occasions returns if the meme coin even sees a fraction of Fartcoin and SPX6900’s success.
Nevertheless, its presale is promoting out quick, with over $600k raised in just some days.
With SPX6900 hitting a brand new all-time excessive and on the transfer once more, TOKEN6900, which is branding itself with the identical delusional humour, might see a major surge in its demand.
Many sensible cash traders have already purchased early, with some eyeing as much as 100x returns from it.
Go to TOKEN6900 Presale
This text has been offered by considered one of our business companions and doesn’t replicate Cryptonomist’s opinion. Please remember our business companions could use affiliate packages to generate revenues by way of the hyperlinks on this text.