Meme coins had an intriguing week, with some ending in the green while most saw losses. However, optimism is rising as Bitcoin holds steady around the $97,000 mark, fueling hope for a broader recovery among meme coin holders.
BeInCrypto has analyzed two meme coins leading the charge and another poised for rapid recovery.
SPX6900 (SPX)
SPX price surged by 28% this week, driven by improving market conditions. This upward movement has helped the meme coin recover from a sharp 54% decline in the previous week. The rebound signals a potential for continued growth, provided that the momentum can be maintained in the coming days.
Currently trading at $0.80, SPX is working to secure the $0.75 support floor. If successful, this would pave the way for a rise toward $0.91. A breach of this resistance would further confirm the uptrend and provide a solid foundation for the meme coin to aim for the $1.00 mark.
However, if SPX fails to breach $0.91, it may face a period of consolidation above the $0.75 support level. This could lead to a delay in recovery, potentially invalidating the bullish outlook. Without additional market support, further upward momentum might not be sustainable.
Popcat (POPCAT)
POPCAT price surged by 73%, trading at $0.35 as of the latest update. Emerging as one of the best-performing meme coins, POPCAT has managed to recover nearly half of the 71% decline observed between January and February, showing potential for further growth as momentum builds.
Currently trading at $0.35, POPCAT faces resistance at the $0.37 level. If the altcoin manages to flip this barrier into support, it will secure its recent gains and help fuel further upward momentum. Successfully breaching $0.37 would pave the way for continued growth and higher price targets.
If POPCAT fails to breach the $0.37 resistance, it could experience a pullback. In such a case, the price might fall back to the $0.23 support level, potentially invalidating the bullish outlook. This could erase the recent gains and trigger additional market uncertainty surrounding the altcoin’s future.
OFFICIAL TRUMP (TRUMP)
TRUMP was one of the worst-performing meme coins this week until the last 24 hours when it saw a 23% rise. The jump came after US President Trump’s crypto company, World Liberty Financial, initiated a token reserve, sparking renewed interest in the altcoin and boosting its price.
The 23% rise has brought the overall weekly gains to 11.5%, with the price now at $19.06. TRUMP is currently facing resistance at $19.58, and flipping this level into support is crucial for the altcoin to continue its recovery. Successful price action could set the stage for further gains.
If TRUMP fails to breach the $19.58 barrier, it could result in consolidation below this resistance level. The altcoin might slip back toward the $16.00 support or even test its all-time low of $14.29. This scenario would invalidate the bullish outlook and extend losses, delaying potential recovery.
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Disclaimer
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