The market for meme coins has seen a notable decline in the last month as trading activity has decreased, resulting in a 20% drop in market capitalization.
Despite this decrease, a revival in optimistic interest is setting certain meme coins up for potential expansion in September.
Popcat (POPCAT)
At the now, the price of POPCAT is $0.69, which represents a massive increase of 46% in value over the previous week. There has been an increase in the number of market players who have been acquiring this meme currency over the past few weeks, according to the technical configuration of this meme coin, which was developed on the Solana blockchain.
POPCAT’s Relative Strength Index (RSI) is currently at 57.58 and exhibiting an upward trend. This indicates that the index is positive. Due to the fact that the RSI indicator determines if an item is being purchased or sold excessively, this level of the indicator indicates that there is an increase in purchasing activity.
A sizeable bullish tendency is also shown by the Moving Average Convergence Divergence (MACD) indicator. There is a significant upward trend since the MACD line, which is blue, is located above both its signal line, which is orange and the zero line.
In the event that this pattern continues, there is a possibility that the price of POPCAT will rise to $0.71. On the other side, if there is a reversal, there is a potential that the price will drop to $0.62. This is a possibility.
Pepe Fork (PORK)
Over the past month, the price of PORK has increased by 82%. It witnessed a huge spike over the last twenty-four hours, hitting its highest position in a month at $0.00000016 before later correcting to $0.00000013 at the time of this writing.
This means that the price of the meme currency with a frog motif is presently trading higher than its 20-day exponential moving average (EMA), which is the average price over the previous 20 trading days. A solid and positive price movement is indicated when the price of an asset is more significant than this moving average. This suggests that current prices have continuously been above the average for the previous 20 days, which indicates that the price movement has been solid and good.
In addition, the Chaikin Money Flow (CMF) of the token is rising and has reached 0.23 at the moment, which is higher than the zero line. When the CMF number is positive, it suggests that the market is strong, which provides evidence of the presence of liquidity inflow, which is necessary for the continuation of a rally. The price of PORK might be traded at $0.00000024 if the pattern continues without interruption.
Floki (FLOKI)
Within one month, there has been a decrease of thirteen percent in the value of Floki. On the other hand, this decline in price has given a good opportunity for traders who are looking to go against the direction that the market is now moving in.
An examination of the ratio of Floki’s Market Value to Realized Value (MVRV) on the blockchain reveals that there is a great chance to purchase the cryptocurrency. The MVRV ratios for FLOKI during the previous 30 days and 90 days are at -34.30% and -55.26%, respectively, according to the data that Santiment gave.
When the MVRV ratio of an asset falls below zero, it is considered to be undervalued. This indicates that the asset’s current price is lower than the average price of all of its tokens that are currently in circulation. Traders who are looking to purchase assets at a lower price and subsequently sell them at a higher price typically find that this circumstance provides a purchasing hint for them.
Shiba Inu (SHIB)
There has been a massive rise in the number of coins being amassed by major holders, as demonstrated by an 81% jump in their flow. This occurrence has occurred despite the fact that the price of SHIB has dropped significantly over the last month.
Whales, which are often referred to as huge holders, are addresses that have a considerable amount of influence over 0.1% of the supply of an asset that is currently in circulation. Growth in their net flow is indicative of an increase in accumulation, which is a favorable indicator that frequently encourages individual investors to pursue the same course of action, which may increase the value of the asset.
In the event that SHIB suffers a more widespread accumulation across the market, its downward trend may be reversed, which could result in a potential rebound towards $0.000018.
Book of Meme
Over the last week, the value of BOME showed a decline of 13%. In spite of this decline, the Chaikin Money Flow (CMF) of the meme currency has been consistently increasing, and it is on the approach of crossing the zero line.
When the price of an asset falls, but its Chaikin Money Flow (CMF) rises, this is known as a bullish divergence. This indicates that there is a continuous accumulation of the asset despite the fact that the price has dropped. A beneficial influx of funds into the asset is indicated by the increasing CMF, which implies that there is a probability of a potential recovery in the near future.
If BOME begins to experience a jump in price, the next price target for it might be $0.01. That being said, in the event that the negative trend continues, the value of BOME might drop to its lowest point on August 5th, which was $0.005.
