The last seven days have been exhilarating for the crypto market as Bitcoin continued to form a new ATH despite exhausting bullish momentum. However, the dying momentum did not affect the meme coins which subsequently posted rallies of up to 3,000%.
BeInCrypto analyzed three such meme coins that rose significantly and, at the same time, reached new all-time highs.
Act I: The AI Prophecy (ACT)
ACT has become the most efficient same place this weekcarried by his recent Binance List. This milestone fueled a remarkable rally, with the cryptocurrency seeing an unprecedented 3,000% rise over seven days, making it a market benchmark.
Currently trading at $0.74, ACT reached a new all-time high of $0.95 during its rally. The altcoin established a strong support level at $0.60, signaling potential stability amid the current momentum, provided market conditions remain favorable.
However, ACT’s hype-driven rally leaves it vulnerable to corrections. If investors choose to lock in profits, the meme coin could lose its $0.60 support and slide further to $0.44, calling into question its recent gains and raising concerns about sustainable growth.
Peanut the Squirrel (PNUT)
The PNUT was born as one of the best performing cryptocurrencies, rising a staggering 1,579% over the past week. This incredible rally has placed the meme coin among the top 100 crypto tokens, with its price currently trading at $1.91, attracting the attention of investors and market observers.
This impressive performance saw PNUT set several all-time highs this week, with the latest high recorded at $2.50. If the bullish momentum continues, the meme coin could continue to rise, potentially setting new ATHs and further strengthening its market position.
However, if PNUT loses the critical support level of $1.69, it could face a significant correction. Such a decline could send the price down to $0.44, erasing recent gains and invalidating the current bullish outlook.
Department of Government Effectiveness (DOGE (GOV))
The price of DOGE (GOV) surged 244% over the past week, reaching an all-time high of $0.545. After facing minor corrections, the meme coin is now trading at $0.353, with investor sentiment showing mixed signals regarding its near-term trajectory.
The altcoin maintains support at $0.161, providing a safety net against potential investor profit-taking. However, if selling pressure intensifies, DOGE(GOV) could see a sharp decline, potentially falling to $0.049. Such a decline would erase much of the recent gains, thereby increasing bearish momentum.
On the other hand, if DOGE(GOV) holds above the $0.161 support level, it could resume its upward momentum. Managing to maintain this level could allow the coin to revisit its all-time high of $0.545, invalidating the bearish outlook and paving the way for further gains.
Disclaimer
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