Will MEW, POPCAT & BONK Meme Coins Rally Give 2x Returns?

The post Will MEW, POPCAT & BONK Meme Coins Rally Give 2x Returns? appeared first on Coinpedia Fintech News

Amid the increasing talks around emergency rate cuts and a recovery in the US and global markets, Bitcoin is back above $57K. As the crypto market leader bounces back, the meme coins are quick to capitalize on the bullish sentiment. 

Amid the recovery, MEW, POPCAT & BONK are the top performing meme coins with massive upside potentials. Will these highly volatile coins known for sharp and fatally cutting moves give a 2x rally? Let’s look closer at these meme coins to determine the risk and reward involved.

Top Meme Coins To Buy: Cat in a Dogs World (MEW)

With a massive bullish engulfing candle, the MEW token shows a V-shaped recovery from the low of $0.0040. Following the overnight jump of 42%, the meme coin reclaims the $0.0060 mark with an intraday move of 2.74%.

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Furthermore, the MEW token surpasses the 61.80% Fibonacci level at $0.0056, signaling a strong bullish comeback. As the broader market recovers, the MEW token aims for the 1.618 Fib level at $0.0111, an 85% rise from the current market price. 

POPCAT (POPCAT)

With a quick reversal from the $0.37 level results in an evening star pattern in the POPCAT price trend. The bullish reversal from a crucial support trendline propels the meme coin by 117% from the low of $0.25 during the crash. 

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Furthermore, the POPCAT price trend shows an expanding channel in the 1D chart. The bullish reversal ends the correction phase and reclaims the short-term 23.60% Fib level. 

Optimistically, an uptrend continuation could pump the meme coin price beyond $1. As per the Fib levels, the 1.618 Fib level at $1.3372 is a potential target for almost a 150% rise.  

BONK (BONK)

Along with the cat-themed coins, BONK, a dog-themed meme coin based on Solana, teases a trend reversal move. The BONK price is quick to resurface above the broken trendline after forming a low of $0.00001552. 

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The recovery rally accounts for a 38% rise from the low of the recent crash and teases a bullish comeback. As per the Fibonacci levels, the bull run could hit the $0.000045 peak, a 110% rise.