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The cryptocurrency market has experienced extreme volatility this week, with many altcoins suffering corrections. However, Bitcoin rose to $100,000 today, which shifted the market momentum from a downtrend to an uptrend. This upturn is also beneficial for Meme Coins, with some able to make bigger profits.
TinTucBitcoin discovered three typical Meme Coins that represent the diverse psychology of investors over the past week.
Unicorn Fart Dust (UFD)
UFD price is up 147% this week, making it one of the best performing Meme Coins. Currently trading at $0.27, this altcoin’s impressive growth has attracted the attention of investors.
The attack sent UFD to a new all-time high of $0.29. If the trend continues, this Meme Coin could surpass the $0.30 mark, cementing its position as one of the leaders in the cryptocurrency market.
However, if the trend reverses, the price could drop to $0.20. Loss of this support could push the price down to $0.10, invalidating the bullish thesis and erasing recent gains.
Dogecoin (DOGE)
Dogecoin price has increased 20% this week, bringing it back to the key resistance level of $0.39. While this increase is smaller than some of the top altcoins, it represents a potential turning point for DOGE after weeks of stagnation.
To maintain upward momentum, Dogecoin must break through and turn $0.39 into support. Achieving this would pave the way for the price to rise to $0.45, solidifying Meme Coin’s position as a market leader and attracting new attention from investors.
On the other hand, failure to overcome $0.39 could result in an extended correction above $0.36. A drop below $0.36 would invalidate the bullish view and could signal further downside for Dogecoin.
Akuma Inu (AKUMA)
AKUMA price has dropped 41% over the past week, trading at $0.0007 after losing key support levels of $0.0010 and $0.0008. The sharp decline of this Meme Coin puts it among the worst performers, making investors worried.
If the downtrend continues, AKUMA could fall further to $0.0004, increasing Holder’s losses. This scenario could cement its position as the worst-performing Meme Coin of the month, causing further caution in the market.
However, a recovery is still possible if AKUMA can turn $0.0008 into support. Retaking $0.0010 as support would neutralize the pessimism and signal a possible reversal for this troubled token.
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