The last seven days have not proven to be exceptionally optimistic for the crypto market as Bitcoin continued to hover below the $100,000 mark. Still, some emerging names took the top spot among meme coins, while other familiar names saw a decline.
BeInCrypto analyzed three such meme coins that triggered varied sentiments among investors this week.
Akuma Inu (AKUMA)
AKUMA has gained attention as a new coinup an impressive 183% this week to $0.00132. This sharp increase highlights the altcoin’s growing popularity and investor interest despite broader market challenges. Its recent performance highlights its potential in the volatile crypto space.
The altcoin established a key support level at $0.00106, providing a strong base for continued upward movement. As the market attempts to recover, AKUMA is positioned to maintain its bullish momentum.
However, if AKUMA falls below the $0.00106 support level, it could experience a significant decline to $0.00085. Such a decline would jeopardize its recent progress and invalidate the bullish outlook, highlighting the importance of maintaining current support to maintain momentum.
MAGA (ASSET)
MAGA has seen an impressive 70% rally over the past week, briefly crossing the $3.00 mark before returning to $2.78 at the time of writing. This sharp increase in prices reflects the market’s growing enthusiasm for coins potential as political events continue to draw attention to this asset.
This rally appears to be driven by anticipation of Donald Trump’s inauguration as president of the United States on January 20, which is attracting considerable interest from investors.
As the inauguration date approaches, MAGA is expected to maintain its bullish momentum, with the possibility of reaching new highs. The meme coin could rise as high as $4.44, provided market enthusiasm persists and external factors continue to fuel optimism around the asset.
Fartcoin (FARTCOIN)
FARTCOIN has become one of the worst performing cryptocurrencies this week, suffering a 40% decline over the past seven days. The meme coin’s price fell below the critical $1.00 support level, signaling a lack of resilience in the face of broader challenges in the market that have left investors searching for signs of recovery.
The correction followed shortly after FARTCOIN reached its all-time high of $1.61. The lack of upward momentum in the market as a whole appears to have fueled the sharp slowdown, reflecting the volatility often associated with meme coins.
If FARTCOIN successfully recovers $0.98 as a support level, the meme coin could see a resurgence. This would position the asset to move back above $1.00, with a possible rally towards its ATH of $1.61, provided overall market conditions improve and investor confidence returns.
Disclaimer
In accordance with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to providing accurate and unbiased reporting, but market conditions are subject to change without notice. Always do your own research and consult a professional before making any financial decision. Please note that our Terms and conditions, Privacy PolicyAnd Disclaimer have been updated.