Cryptocurrency market analysts expect a recovery rally next week due to the possible listing of an Ethereum ETF, the delayed release of U.S. CPI data, and the end of the German Bitcoin sell-off. In the midst of the recovery rally, altcoins, especially meme coins, have been known for their massive gains.
We continue to see new trends and a surge in demand for politically themed and other meme coins. Let’s take a closer look at some of the most trending and potentially trendy meme coins to watch next week.
Notable meme coins: MAGA (Trump)
The politically themed MAGA token, with a market cap of $275 million, is inspired by Donald Trump’s “Make America Great Again” initiative. Hence, the token code is based on Trump and has recorded a massive increase of over 3000% since its inception.
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However, the meme coin is experiencing a pullback phase amid the overall market decline as the descending channel is moving in. To reverse the trend, the recovery rally from $4.528 on the 4-hours chart reclaimed the 50 EMA and surged above the overhead trendline.
If the breakout rally gains momentum and rises above the 200D EMA, MAGA price could reclaim the psychological level of $10. Moreover, as per Fibonacci levels, the uptrend can reach a peak of $17 if it sustains above the 50% level.
Mog Coin (MOG)
MOG Coin, the Internet’s first culture coin, is an ERC-20 token based on Ethereum mainnet. With an upward trend on the daily chart, MOG’s price action is showing a bullish channel pattern.
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The meme coin rose 2.21% intraday and avoided an evening star pattern near the upside resistance. According to the Fib retracement of the March-April correction, MOG price is challenging the 1.618 levels.
There is a chance that the market will recover next week and break out of the trendline, with the meme coin easily reaching the 2.618 level at $0.000002532.
Cats in a Dog’s World (MEW)
MEW Token, a Solana-based meme coin with a market cap of $282 million, maintains its leading position in the space. As one of the top-performing meme coins not only in the Solana ecosystem but also in the cryptocurrency market as a whole, MEW Token is one of the top picks for smart money.
Trading View
MEW Token is signaling a bounce as a possible double bottom reversal is emerging on the 4-hourly chart, with the baseline holding firm at $0.0031 and suggesting a neckline at $0.0036.
Considering the bullish pattern continues, Memecoin can reach the overhead trendline near $0.0041. Optimistically, the uptrend from the trendline breakout can reach $0.0061, i.e. the 61.80% Fibonacci level.
