The market cap of meme coins recently exceeded $73 billion thanks to a broader bullish market, with many small-cap tokens emerging as top performers. However, leading meme coins struggled to maintain strong rallies.
As August begins, the key question remains: which tokens will continue to post gains and lead the next phase of growth? BeInCrypto has analysed three such meme coins that present bullish cues for this month.
MemeCore (M)
MemeCore has emerged as one of the best performers in the meme coin space, experiencing a remarkable 911% increase since its launch.
Trading at $0.557, the altcoin continues to attract attention due to its explosive growth and strong market presence, signaling potential for further gains in the near future.
MemeCore’s rise, especially following mid-July, has set the altcoin on a path toward two major milestones: its all-time high (ATH) at $1.01 and breaking the $1.00 barrier.
While it currently stands 79% below its ATH, strong investor support will be crucial for achieving these key levels in the future.
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However, if investor sentiment shifts toward selling pressure, MemeCore may face difficulties maintaining its momentum.
A drop below the $0.440 support level could push the altcoin into a consolidation phase, potentially stalling further growth and sending it closer to the $0.298 zone.
Rekt (REKT)
REKT has shown impressive growth in July, rising by 221%. The altcoin is now trading at $0.000001155 and continues to maintain strong momentum this month.
This significant increase positions REKT as a notable meme coin, showing potential for further growth as market sentiment remains positive.
The presence of the Parabolic SAR below the candlesticks signals an active uptrend for REKT. If the current market conditions hold, this indicator suggests the meme coin could rise further.
REKT could push toward $0.0000013 and even breach this level, marking a significant milestone for the altcoin.
However, unforeseen market conditions could trigger a downturn for REKT. If the price falls below the support level of $0.000000933, the altcoin may experience a drop to $0.000000745.
A sustained decline below this level would invalidate the current bullish outlook.
Pudgy Penguins (PENGU)
PENGU is currently trading at $0.035, 33% away from its all-time high (ATH) of $0.046. With the Bollinger Bands converging, the meme coin is preparing for a volatility explosion.
This signals the potential for significant price movement in the near future, especially if bullish momentum continues.
The volatility triggered by the narrowing Bollinger Bands is expected to drive PENGU’s price higher. If the altcoin breaks past the $0.040 resistance, it could surge towards the ATH of $0.046.
A successful breach could lead PENGU to $0.052, marking a continued rally and a potential new high.
If PENGU fails to breach the $0.040 resistance, bearish pressure could pull the price back. In this case, the coin could fall to $0.029, with further losses taking it down to $0.023.
This drop would invalidate the bullish outlook and indicate a reversal of momentum.
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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.
