Much like the broader crypto market, most meme cash carried out terribly all through February. The drawdown witnessed by these meme tokens even led to some forming new all-time lows. Nevertheless, there is a chance on this downtrend that’s seemingly coming to an finish.
BeInCrypto has analyzed 5 meme cash that might make their means again up and recuperate their losses in March.
Daddy Tate (DADDY)
DADDY has shocked the market this week with a 70% worth enhance, recovering February’s losses and extra. The altcoin is at the moment buying and selling at $0.054. This rally marks a shift in investor sentiment, doubtlessly signaling additional upside if the present momentum persists.
DADDY is now eyeing an extra rally, doubtlessly breaching the $0.068 resistance. This degree has been a problem for the meme coin since mid-December, however with bullish elements driving the worth, it could lastly break by way of. The continuation of this uptrend is dependent upon sustained investor confidence.
Nevertheless, if DADDY fails to carry the help of $0.054, the worth might fall again to the $0.045 help degree. A deeper decline may invalidate the bullish outlook, doubtlessly triggering a shift in sentiment and setting the coin again additional.
Pepe (PEPE)
PEPE continues its downtrend, buying and selling at $0.00000718 after beginning this decline in November 2024. The altcoin’s worth stays below strain, however the scenario may shift. Notably, PEPE has a powerful correlation of 0.89 with Bitcoin, doubtlessly setting the stage for a restoration if BTC rebounds.
With Bitcoin doubtlessly nearing a market backside, PEPE may gain advantage from its restoration. If Bitcoin beneficial properties momentum, PEPE is prone to observe go well with. A key marker for this is able to be PEPE flipping $0.00000951 into help and finally surpassing the $0.00001146 resistance degree, signaling additional upside.
If the downtrend persists, PEPE faces the chance of falling beneath its $0.00000748 help. A breakdown by way of this degree may result in a check of $0.00000632, additional invalidating the bullish thesis and signaling a deeper decline.
Popcat (POPCAT)
POPCAT has made a notable restoration, at the moment down simply 9.5% over the month, buying and selling at $0.265. The altcoin goals to breach the resistance of $0.342, with potential for additional upside. A profitable breakout may result in vital beneficial properties, particularly if market sentiment continues to enhance.
In earlier market cycles, a bounce off the $0.238 help, coupled with bullish indicators, has fueled rallies as much as $0.645. The ADX at the moment sits beneath the 25.0 threshold, indicating weakening bearish momentum.
If POPCAT follows an identical sample, this shift may set the stage for a 129% rise.
Nevertheless, if POPCAT fails to breach $0.342, it could return to its help ranges at $0.238 and even $0.203. Such a drop would invalidate the bullish outlook, signaling continued consolidation or additional losses.
Peanut The Squirrel (PNUT)
One other one of many prime meme cash, PNUT, has outperformed expectations with a 56% rally this week, reaching $0.226 and erasing February’s losses. The altcoin is now specializing in securing $0.227 as a steady help degree. Sustaining this degree can be essential for continued upward momentum and worth stability within the brief time period.
With $0.227 efficiently established as help, PNUT may leverage the enhancing market situations and investor confidence to rise towards $0.442. This restoration would considerably offset the losses suffered in January, doubtlessly positioning the altcoin for additional beneficial properties if market developments stay favorable.
Nevertheless, if PNUT fails to safe the $0.227 help ground, the altcoin dangers falling again to $0.142. Such a decline would invalidate the bullish outlook, prompting additional consolidation and elevating issues over a sustained restoration.
Pudgy Penguins (PENGU)
PENGU hit a market backside in February, forming a brand new all-time low of $0.0067 amid bearish situations. Regardless of this, the altcoin has proven resilience and could possibly be getting ready for a possible rebound.
After bouncing again by 24.6% this week, PENGU is at the moment buying and selling at $0.0090 and focusing on a breach of the $0.0100 degree. If this resistance is overcome and flipped into help, the altcoin may attain $0.0147. This could assist recuperate most of February’s losses, signaling a constructive outlook.
Nevertheless, if PENGU fails to interrupt the $0.0100 barrier, it dangers consolidating above its all-time low of $0.0067. On this case, the bullish thesis can be invalidated, doubtlessly resulting in additional losses and undermining investor confidence within the brief time period.
Disclaimer
According to the Belief Challenge tips, this worth evaluation article is for informational functions solely and shouldn’t be thought of monetary or funding recommendation. BeInCrypto is dedicated to correct, unbiased reporting, however market situations are topic to vary with out discover. At all times conduct your individual analysis and seek the advice of with knowledgeable earlier than making any monetary choices. Please be aware that our Phrases and Situations, Privateness Coverage, and Disclaimers have been up to date.
