January was a highly volatile month, with many top meme coins facing heavy selling pressure amid broader market bearishness. However, a select few defied the trend and saw significant gains. As February begins, investors are eager to understand what’s next for these tokens.
BeInCrypto has identified five meme coins for investors to watch and analyzed their potential trajectories in February.
Toshi (TOSHI)
TOSHI was among the best-performing meme coins in January, surging by 838% and reaching a new all-time high of $0.00211. This remarkable rally highlighted strong investor interest, positioning the altcoin as one of the most volatile yet promising assets in the meme coin sector.
Currently, TOSHI is struggling to establish $0.001289 as a support level. However, if the meme coin successfully breaches and flips this level, it could regain bullish momentum. This move could propel TOSHI toward its ATH and potentially beyond, reinforcing confidence among investors.
Failure to reclaim $0.001289 as support could trigger a deeper correction, sending TOSHI toward $0.00057. Such a decline would erase a significant portion of its recent gains, increasing selling pressure and delaying any potential recovery for the meme coin.
Dogecoin (DOGE)
Dogecoin, the leading meme coin, is currently facing bearish pressure as it broke down from a trendline. This technical formation is often associated with trend reversals, signaling a potential decline.
The pattern suggests Dogecoin could see a 20% drop, targeting $0.264. This bearish scenario would likely be confirmed if DOGE tests and fails to hold the $0.295 support level.
A breakdown below this threshold could accelerate selling pressure and lead to further losses. Thus, investors should watch these levels if they wish to exit before losses mount.
However, if Dogecoin manages to flip $0.328 into a support floor, it could regain momentum. A move above $0.360 would invalidate the bearish outlook, signaling a potential recovery. This scenario would attract renewed investor confidence and set the stage for a possible bullish breakout.
Pepe (PEPE)
PEPE extended its ongoing downtrend, testing the trend line as support before eventually breaking below it this week. The meme coin’s decline has totaled 20%, reinforcing bearish sentiment. This price action has raised concerns among investors about whether the cryptocurrency can stabilize and initiate a potential recovery.
Despite recent losses, PEPE is up 10% today, currently trading at $0.00001146. The upside to this scenario is that the meme coin has likely hit its local bottom, suggesting limited downside risk. If this holds, PEPE could see an upward move, making it an attractive entry point for traders.
To confirm a recovery, PEPE must secure $0.00001369 as a support level. Successfully doing so would strengthen its bullish case.
However, if it loses the $0.00001146 support, further declines could follow, potentially invalidating the optimistic outlook and extending the correction phase.
Floki (FLOKI)
FLOKI remains in a persistent downtrend, similar to PEPE, struggling to stay above its trend line. Currently trading at $0.000123, the meme coin has declined nearly 40% over the past month.
Historically, FLOKI has bounced back after testing the $0.000110 support level, triggering recoveries. A confirmation of bullish momentum would require the meme coin to flip $0.000132 into a support floor. Reclaiming this level could attract renewed interest, pushing the price higher in the short term.
However, if the downtrend persists and FLOKI loses its $0.000110 support, the situation could worsen. A further decline below $0.000100 would invalidate the bullish outlook and extend investor losses, signaling a deeper correction in the meme coin’s price action.
Fartcoin (FARTCOIN)
FARTCOIN has lived up to investors’ expectations by reaching an all-time high (ATH) of $2.74 but also disappointed them with a 52% decline over the last ten days. The meme coin’s extreme volatility has raised concerns about its ability to sustain upward momentum amid market-wide uncertainty.
Despite the sharp correction, FARTCOIN is holding above the critical support level of $0.69, which has historically prevented deeper drawdowns. If this support holds, the meme coin could regain momentum, reclaiming $1.54 as support and making another attempt to reach its ATH of $2.74 and beyond.
However, if FARTCOIN loses its $0.69 support, it could trigger further declines. A drop below $0.60 could send the token toward $0.37, invalidating the bullish outlook and extending investor losses. The coming days will be crucial in determining whether the meme coin can recover or face another downturn.
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Disclaimer
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