As Bitcoin price recovered back to $60,000, the cryptocurrency market experienced a strong bounce in the past hours. In addition, the memecoin category recorded the highest increase with many tokens soaring to triple digits.
In light of this, investors are turning bullish on the memecoin craze and a potential AltSeason bull run. Questions like “Which memecoin is the best to invest in?” and “Which memecoin will hit $1?” have been swirling around the cryptocurrency market.
Scroll down, because in this article, we will be showcasing the top three Meme Coins that are likely to outperform the top cryptocurrencies this Q4.
WHY
Amid increased price volatility, WHY’s price has increased by 5.25% in 24 hours and 10.47% in the past week. Moreover, it has increased by about 30% since its launch. With a market capitalization of $120.95 million, WHY currently holds the 284th position on the global cryptocurrency list.
The Moving Average (SMA) indicator has recorded a strong bullish curve on the 4H time frame. This highlights the increased buying pressure on altcoins in the market. Moreover, the RSI has broken out of the overbought zone. This suggests that the price will continue to increase in value in the coming time.
If the market maintains the bullish sentiment, the WHY price is poised to test the upper resistance at $0.0000003330. Conversely, a bearish reversal could drag the price to the low of $0.000000270.
Mog Coin (MOG)
Despite recording negative price action over the past month, MOG’s price has attracted significant attention from the crypto community. Moreover, with a YTD return of around 1,900%, the meme coin is one of the best performing projects of the year.
The Moving Average Convergence Divergence (MACD) indicator has shown a weak bullish action in the market. Additionally, the technical indicator has recorded an increase in selling pressure. This highlights the possibility of a short-term price correction for memecoin in the coming period.
Holding above the $0.00000009820 resistance could pave the way for MOG price to move towards the $0.0000015420 resistance. However, a downside move could drag the price down to the $0.000000680 low.
First Neiro on Ethereum (NEIRO)
Since its listing on Binance, this memecoin has taken the crypto market by storm. Notably, it has increased by 1,161% in the past week and has a year-to-date return of 18,444.10%, making it the best performing memecoin of 2024.
The RSI is still hovering near the overbought level on the 1H timeframe. This shows a strong bullish sentiment for the altcoin in the market. Moreover, the SMA is acting as support on the NEIRO price chart. This suggests a positive outlook for the memecoin in the market.
If buying power continues to increase, the First Neiro price on Ethereum is poised to test the $0.001 level in the near term. Conversely, a bearish reversal could drag the price towards $0.00060.