Top three promising memecoins
The memecoin market hasn't seen significant growth over the past month due to the mid-September crash. However, some coins still show potential for growth in the coming month.
We analyzed three memecoins that investors should pay attention to in October.
Manyu (MANYU)
MANYU has become one of the standout memecoins this month, posting a 203% gain since the beginning of September. Its market cap at the time of writing is $56 million. This sudden surge has captured the attention of traders, making MANYU one of the most closely watched tokens in the memecoin sector.
At the time of publication, MANYU is trading at $0.00000005449 and is showing signs of further growth. A parabolic SAR has formed below the candlesticks, confirming bullish momentum. This could mean the token continues to rise above $0.00000007000. If momentum continues, investors could see further gains as optimism around memecoins intensifies, fueling speculative growth.
On the other hand, if holders decide to sell rather than hold, this could push the price down. MANYU risks falling to $0.00000003244 or lower, which could erase a significant portion of recent gains and undermine the optimistic outlook.
BurnedFi (BURN)
BURN caught the attention of investors after a sharp surge, increasing 77% and posting a staggering 2,385% gain in a single day. This surge took the coin to its all-time high of $73.74. This move demonstrated the token's volatility and its potential for quick gains.
With a market capitalization of $41 million, concerns have arisen about risk concentration. The top 10 holders control approximately 26% of the supply, leading to caution among traders. However, BURN has over 85,000 holders, providing some stability and reflecting broad participation in the memecoin community.
At press time, BURN is trading at $3.19, just below the $3.68 resistance level. A breakout could push it to $5.00 and beyond. However, if selling pressure intensifies, the token risks falling below the $2.43 support level. A drop to $1.72 would cancel the bullish scenario and reinforce the bearish sentiment.
Memecore (M)
Memecore quickly rose to the top, becoming the fourth-largest memecoin on the market. In September, the token surged 230%, cementing its position among the leaders.
During this rally, Memecore surpassed Pudgy Penguins (PENGU), Bonk (BONK), and OFFICIAL TRUMP (TRUMP). However, the token has yet to reach its all-time high, set two weeks ago.
If bullish sentiment persists, Memecore could once again reach its all-time high of $2.99, a 33% increase from its current price. At the time of writing, the token is trading at $2.27 after a sharp decline. However, if the 50-day EMA fails to support it, Memecore could fall to $1.33 or even lower.
Источник: cryptocurrency.tech
