As the new year begins, the crypto market is expected to demonstrate greater resilience, with meme coins poised to see notable activity. Although many meme tokens have emerged over the past year, only a few have attracted investor interest and maintained significant momentum.
BeInCrypto has identified five notable meme coins likely to maintain their uptrend or initiate new rallies in January.
Chubby penguins (PENGU)
PENGU is currently trading at $0.029. The penguin-themed meme coin recently climbed the top five meme coin list after hitting a new all-time high at $0.070, 134% above the current price, surpassing popular tokens like dogwifhat (WIF) and Floki (FLOKI). Its growing importance has attracted the attention of coin investors.
Although a 134% price rally is unlikely, PENGU could aim to flip the $0.040 resistance level into support. Achieving this would provide the coin with a basis for potential rallies.
However, a loss of support at $0.029 could push PENGU to $0.022, invalidating the current bullish outlook. Such a decline would likely weaken investor confidence, thereby reinforcing downward pressure. Market participants evaluate these scenarios to gauge PENGU’s next move.
Fartcoin (FARTCOIN)
FARTCOIN has captivated the crypto market, reaching a market cap of $1 billion and showcasing the unpredictable nature of meme coins. Its rapid rise reflects the continued demand and enthusiasm in this niche.
Currently trading below $0.98, FARTCOIN remains 54% off its all-time high but holding above the $0.81 support level. This resilience highlights its ability to capitalize on market trends.
If the critical support level of $0.81 fails to hold, FARTCOIN could face a decline to $0.70, negating the bullish outlook. Such a drop could change sentiment, highlighting the value of the coin. volatility and reinforce the speculative nature of coin investments.
Pepe (PEPE)
PEPE remained relatively stable this month, avoiding the sharp declines experienced by other major coins. Although it has not recorded a significant rally, its resilience positions the altcoin for a faster recovery when market sentiment improves. This stability has made PEPE a focal point for investors seeking consistency in meme coins.
Currently, PEPE is trading at $0.00001871 and is expected to see a 53% rise back to its all-time high of $0.00002836. The altcoin is attempting to establish $0.00001785 as a support level. Reclaiming $0.00002334 as support will be key for PEPE to signal an uptrend, providing an opportunity for potential upside movement.
However, if PEPE fails to hold the support level of $0.00001785, it risks falling to $0.00001696. Such a decline would completely invalidate the bullish outlook and raise concerns among investors. Maintaining critical support thresholds is essential for PEPE to maintain its current market position.
SPX6900 (SPX)
SPX is trading at $0.85, aiming to form a new ATH above $1.19, which would warrant a 40% upside but remains limited below the $0.91 resistance. The meme coin has faced persistent challenges since mid-October, reflecting market hesitation and limited bullish momentum.
Moving above $0.91 and turning it into support could signal an uptrend for SPX. Such an approach would pave the way for same piece to target a new all-time high above $1.19. Reaching this milestone would mark its first significant rebound in nearly three months.
However, continued failure to breach the $0.91 resistance could force SPX to test the $0.70 support level or lower. A fall below this threshold would invalidate the bullish outlook and increase bearish sentiment. Maintaining critical levels is crucial for SPX to regain market confidence.
Turbo (TURBO)
Turbo was consolidating for over two months, struggling to break above the $0.013 resistance level. Despite repeated attempts, the price failed to gain sufficient momentum. This prolonged stagnation highlights market uncertainty, but the coin remains a target for investors due to its unique origins.
As the first meme coin created by artificial intelligence, Turbo stands out in the crowded crypto space. This distinction fuels expectations of a breakout beyond $0.013, potentially pushing the price towards $0.020. Such a rally would reaffirm its pioneering position among meme coins.
However, if Turbo price drops below $0.008, it risks testing the critical support level at $0.006. Any further decline from this point would invalidate the bullish outlook, raising concerns about maintaining investor confidence. Maintaining stability is crucial to avoid downward pressure.
Disclaimer
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