The crypto market has seen significant volatility this week, many altcoins are experiencing corrections. However, Bitcoin’s rise to $100,000 today has shifted the market dynamics from bearish to bullish. This positive turn also benefits meme coins, with some outperforming others in terms of gains.
BeInCrypto has identified three meme coins that encapsulate the diverse investor sentiment seen throughout the week.
Unicorn Fart Dust (UFD)
The price of UFD jumped 147% this week, securing its place among even the highest performing coins. Currently trading at $0.27, the altcoin’s impressive growth has caught the attention of investors.
The rally pushed UFD to a new all-time high of $0.29. If the upward trend continues, the coin could cross the $0.30 mark, strengthening its position as a notable player in the crypto market.
However, a reversal in momentum could lead to a decline towards $0.20. If UFD loses this support, the price could fall to $0.10, invalidating the bullish thesis and erasing recent gains.
Dogecoin (DOGE)
The price of Dogecoin surged 20% this week, bringing it back to the critical barrier of $0.39. Although this gain is lower than those seen by some of the top altcoins, it signals a potential turning point for DOGE after weeks of stagnation.
To maintain bullish momentum, Dogecoin must clear a breakout and turn $0.39 into support. Achieving this would pave the way for a rise to $0.45, strengthening the coin leader’s position in the market and attracting renewed attention from investors.
On the other hand, failure to break above $0.39 could lead to an extended consolidation above $0.36. A drop below $0.36 would invalidate the bullish outlook and could potentially signal more downside for Dogecoin.
Akuma Inu (AKUMA)
AKUMA price fell 41% over the past week, trading at $0.0007 after losing the critical supports of $0.0010 and $0.0008. The sharp decline of the coin even places it among the worst performers, causing concern among investors.
If the downtrend continues, AKUMA could fall further to $0.0004, worsening losses for holders. This scenario could consolidate its position as the least efficient coin of the month, causing additional hesitation in the market.
However, a recovery remains possible if AKUMA can turn $0.0008 into support. Reclaiming $0.0010 as a support level would invalidate the bearish outlook and signal a potential reversal for the struggling token.
Disclaimer
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