Coinpedia’s analysts just shared some promising graphs on TradingView about the top memecoins, and the possibility of the October gains. Uptober, here we come, let’s see what’s in the bag!
DOGE makes a comeback
With Bitcoin breaking past $64K, meme coins are experiencing a huge boost, setting the stage for a potential October rally.
Dogecoin (DOGE), the largest and most well-known meme coin, also regaining its momentum as the market recovers.
Over the past four days, DOGE jumped nearly 8%, moving past the 50-day exponential moving average.
It also reclaimed the key psychological level of $0.10, signaling a possible bullrun toward the 200-day EMA at $0.1184. Woof.
The price chart reveals a falling wedge breakout, with Dogecoin gaining momentum as it builds on this pattern.
Based on Fibonacci analysis, the next short-term target could be $0.1239, which represents the 23.60% level.
If the broader market continues to recover, and now it seems it will, Dogecoin might even hit a new yearly high, surpassing $0.2289.
Looking ahead, Dogecoin could even go for the 1.618 Fibonacci level at $0.2976 before the end of the year, with some speculation suggesting it may even reach $1 in the not-so-distant future. Good boi!
Baby Doge sees massive growth, we missed the train?
Unlike Dogecoin’s slower pace, Baby Doge skyrocketed by 155% over the past two weeks, forming a series of bullish candles.
This comes after a textbook style falling channel breakout, positioning Baby Doge for a potential rally.
Right now, Baby Doge is trading about 50% below its 52-week high, but it has already gained significant ground and could soon break past the 50% Fibonacci level of $0.000002364.
The coin seemss ready to complete a rounding-bottom reversal, suggesting it could hit the 1.618 Fibonacci level at $0.000005813.
If this happens, Baby Doge might see a further 150% upside as the market continues to recover. And what a recovery!
Jasmy on fire
Jasmy has had a tough year so far, dropping 51% from its yearly high of $0.0045. But now the coin bounced back, climbing 23% in the past 16 days from its local low of $0.01739. its fourth straight day of gains and increasing the likelihood of a continued uptrend.
The recovery is forming another popular pattern, a cup-and-handle on the chart, with the 200-day EMA merging with the 50-day EMA. This suggests the rally could prevent a potential death cross.
Jasmy’s current trend is also developing within a falling wedge pattern, with resistance just below the 23.60% Fibonacci level at $0.2335.
A breakout past this point could push JASMY to the 50% Fibonacci level at $0.029, but have to mention that much of its future movement will depend on overall market trends and breaking through resistance levels.
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