Top 3 Promising Memcoins of August
The memecoin segment's market cap recently surpassed $73 billion, thanks to overall market growth. However, leading meme tokens are struggling to sustain strong rallies
We analyzed three memecoins – MemeCore (M), Rekt (REKT), and Pudgy Penguins (PENGU) – to find out what to expect from them this August.
MemeCore (M)
MemeCore has emerged as one of the leaders in the memecoin space, posting a 911% gain since its launch. Trading at $0.557, the altcoin continues to attract attention due to its explosive growth and strong market presence, indicating potential for further growth.
MemeCore's rally since mid-July has sent the altcoin to two major milestones: its all-time high (ATH) at $1.01 and breaking the $1.00 barrier. While it is currently 79% below its ATH, investor support will be key to reaching these levels in the future.
If investors start selling, MemeCore risks losing momentum. A drop below $0.440 would see the altcoin consolidate, slowing its gains and bringing it closer to $0.298.
Rect (REKT)
REKT is up 221% in July, trading at $0.000001155 at press time and maintaining strong momentum.
The Parabolic SAR indicator below the candles indicates an uptrend for REKT. If the market conditions hold, the memecoin will continue to rise. REKT may reach $0.0000013 and even exceed this level, which will be a significant achievement.
However, unexpected market conditions could trigger a decline. If the price drops below $0.000000933, the altcoin could decline to $0.000000745. A sustained decline below this level would cancel the bullish outlook.
Pudgy Penguins (PENGU)
PENGU is trading at $0.035 at press time, 33% below its all-time high of $0.046. The narrowing of the Bollinger Bands is preparing the memecoin for a sharp change in volatility. This outburst could push PENGU’s price higher. If the altcoin breaks the resistance at $0.040, it could reach the ATH of $0.046.
A successful break of this level could lift PENGU to $0.052, which would be a continuation of the rally and a potential new high.
If PENGU fails to break the resistance at $0.040, bearish pressure may push the price back. In this case, the coin risks falling to $0.029, and further losses will take it to $0.023. Such a drop will cancel the bullish forecast and indicate a change in direction.
Источник: cryptocurrency.tech
