With the top meme coins taking a back seat in the last few days, smaller tokens like Vine have taken the lead. The defunct social media platform inspired token is currently the best performing meme coin.
BeInCrypto has analysed two other meme coins that have the potential to continue rising this week.
SPX6900 (SPX)
SPX has been experiencing a consistent uptrend since the beginning of the month, leading to the formation of multiple all-time highs, including one today at $2.27. This price action reflects strong investor interest, pushing the meme coin to new levels and generating a positive market sentiment.
Currently trading at $2.23, SPX has gained 14% in the past 24 hours. The Ichimoku Cloud, acting as support, signals bullish momentum. This suggests that SPX could rise further, with the potential to reach $2.50 or higher if market conditions remain favorable and investor confidence persists.
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However, if selling pressure intensifies, SPX could experience a reversal. A dip below the $2.00 support could push the altcoin toward $1.74 or lower, invalidating the bullish outlook.
Useless (USELESS)
USELESS recently reached a new all-time high (ATH) of $0.441, joining SPX in its bullish rally. The meme coin is currently holding above the support level of $0.364, showing strength in its upward movement. This positive trend could potentially lead to further price increases if momentum persists.
The presence of the Parabolic SAR below the candlesticks signals an active uptrend for USELESS, suggesting the altcoin could continue rising. Given the increasing demand for USELESS, there is a strong possibility that it could break past its ATH and reach $0.500, establishing a new high in the near future.
However, if bearish market conditions take hold, USELESS could struggle to maintain its current position. A drop below the support of $0.364 could trigger a sell-off, pushing the meme coin down to $0.296. This would invalidate the bullish thesis and possibly lead to a reversal in price momentum.
Vine (VINE)
VINE has shown impressive growth, surging by 152% over the past 24 hours. The meme coin is currently trading at $0.166, marking it as one of the top performers of the day. This sharp rise indicates a strong momentum in its price action, attracting increased investor attention.
With a solid support level established at $0.138, VINE is now targeting the $0.200 mark. Given the altcoin’s recent performance, it seems likely to breach this resistance, signaling potential for further gains. If the bullish trend continues, VINE could reach new highs in the coming days.
However, the altcoin faces the risk of selling pressure from investors. If this occurs, VINE could fall below the $0.138 support level, potentially dropping to $0.100 or lower. Such a decline would invalidate the current bullish outlook, signaling a possible market correction.
Disclaimer
In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
