The meme coin market had a volatile day as some tokens managed to post considerable gains while others continued to suffer. Short-term gains, however, are likely to set up meme coins to take a lead eventually.
BeInCrypto has analyzed three such tokens that represent the different phases of the meme coins market for investors to watch.
Vine (VINE)
- Launch Date – January 2025
- Total Circulating Supply – 999.99 Million VINE
- Maximum Supply – 1 Billion VINE
- Fully Diluted Valuation (FDV) – $39.57 Million
VINE has surged by 45% in just 24 hours, trading at $0.039 as it approaches the resistance at $0.042. The strong daily performance highlights the potential for further gains if the price breaks through the resistance.
Despite the recent price rise, VINE has not yet recovered from the 42% correction at the start of the month. To reverse this downtrend, the meme coin must flip the $0.042 resistance into support. If successful, the price could rise to $0.047, signaling a bullish continuation.
However, if VINE fails to breach the $0.042 resistance, it may struggle to maintain its current momentum. The altcoin could slip back to $0.037 or even lower to $0.031. Such a move would invalidate the bullish outlook and prolong its recent decline.
Osaka Protocol (OSAK)
- Launch Date – April 2023
- Total Circulating Supply – 750.86 Trillion OSAK
- Maximum Supply – 761.45 Trillion OSAK
- Fully Diluted Valuation (FDV) – $48.87 Million
OSAK saw a strong performance today, surging 46% in the last 24 hours. The meme coin posted a remarkable intra-day gain of 88.7%, but the price later corrected to $0.0000000652. Despite this, the price action shows a strong recovery potential if momentum continues.
The meme coin is approaching the key resistance at $0.0000000750, with the potential to flip this level into support. If successful, OSAK could rise to $0.0000000975, attracting more buyers and bolstering investor confidence. A sustained rally would further solidify the bullish outlook for the meme coin.
However, early profit-taking could dampen OSAK’s momentum. If the price fails to break through $0.0000000691, it may experience a decline towards $0.0000000482. This scenario would invalidate the bullish thesis and reverse the recent gains.
Meow (MEOW)
- Launch Date – March 2024
- Total Circulating Supply – 89.99 Billion MEOW
- Maximum Supply – 89.99 Billion MEOW
- Fully Diluted Valuation (FDV) – $114.19 Million
Another one of the interesting meme coins to watch, MEOW has struggled to capitalize on the broader market’s bullish trend. In the past 48 hours, the meme coin gained just 28%, trading at $0.00128. Despite the wider market’s rally, MEOW’s performance has been sluggish, failing to keep pace with other altcoins.
The 16% rise does little to recover the near 66% loss experienced at the end of March. For MEOW to see significant recovery, it must break through $0.00183 and then push past the key resistance of $0.00215. Such movements would help regain lost ground and encourage further growth.
If MEOW fails to recover and continues its downward trend, the bullish outlook will be invalidated. A fall below the critical support at $0.00098 could extend the losses further, putting additional pressure on investors. This would mark a significant setback for the meme coin.
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Disclaimer
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