As the second week of July begins, the bearish sentiment from Q2 appears to be fading quickly. Meme coins are gaining traction, with many emerging in the market.
BeInCrypto has analyzed three such meme coins that are attracting significant attention from investors, indicating a potential shift in market conditions.
Hosico Cat (HOSICO)
HOSICO has been on an impressive upward trajectory since the end of June, currently trading at $0.0631. In the past week, the meme coin has surged by 109%, showing significant growth. This price movement signals strong momentum and growing investor interest in HOSICO.
During this surge, HOSICO managed to set a new all-time high (ATH) at $0.0775. The altcoin’s bullish trend seems likely to continue, with further potential for forming new ATHs. If the momentum persists, HOSICO could see even greater price movements, attracting more attention from investors.
However, if selling pressure increases, HOSICO’s bullish outlook could be invalidated. A drop below the support level of $0.0619 would likely signal a retreat, potentially pushing the meme coin down to $0.0486. Such a pullback would suggest a shift in market sentiment.
Useless (USELESS)
USELESS has been gaining significant momentum, rising by nearly 26% this week. The meme coin is currently trading at $0.280, following a similar trend seen in other meme coins. This surge indicates strong investor interest and suggests a potential for further price movement in the coming weeks.
Having secured $0.250 as a support level, USELESS appears poised for growth. The Chaikin Money Flow (CMF) shows strong inflows, supporting the altcoin’s upward trend. If this continues, USELESS could breach its all-time high (ATH) of $0.309 and potentially set a new ATH at $0.400.
However, if investors choose to cash out and secure profits, USELESS could face a significant pullback. A drop below the $0.250 support level could push the altcoin down to $0.182, invalidating the current bullish thesis. This would signal a shift in market sentiment and lead to a potential downturn.
Osaka Protocol (OSAK)
OSAK has gained 50% this week, showing significant recovery after a challenging June. Currently trading at $0.0000000997, the meme coin is drawing investor attention due to its recent momentum. This increase indicates potential for further growth if the current trend continues, with OSAK aiming for higher levels.
The next target for OSAK is to breach the resistance level of $0.0000001090 and push toward $0.0000001240. The Parabolic SAR below the candlesticks is acting as support, signaling an active uptrend. This positive indicator suggests that the meme coin has the potential to continue climbing if market conditions remain favorable.
However, if the broader market experiences a downturn, OSAK could face selling pressure. A drop below the support of $0.0000000965 would signal a potential reversal, pushing the altcoin down to $0.0000000866. This scenario would invalidate the current bullish outlook, pointing to a possible correction in OSAK’s price movement.
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.
