Solana, the largest blockchain network by active addresses, has experienced a massive jump overnight. With a total network trading volume of $13.76 billion, it contributed to 12.28% of the total volume of $112 billion. Following this, the SOL memecoins recorded the highest gains, with most adding over 5%.
Moreover, Dogwifhat (WIF) & Popcat (POPCAT) memecoins have recorded the highest gains as both have bagged a double-digit rally. With this, investors are closely monitoring the price action of these tokens.
WIF Price Prediction For This Week:
As the market takes a bullish turnaround, the Dogwifhat (WIF) price adds approximately 16% to its portfolio overnight with a surge of 82% in its daily trading volume to $456 million. With this, the market capitalization of this memecoin has jumped to $988 million.
The EMA 50-day shows a rising trend and is currently at $0.855. Additionally, the 200-day displays a key resistance at $1.162, suggesting a bullish price action. With a potential Golden Cross in the daily time frame, the WIF memecoin may continue gaining momentum this week.
On the other hand, the Stoch RSI experiences a strong bullish reversal toward the oversold (0.2) range. Moreover, its trendlines witness a positive reversal in the Dogwifhat price chart. A rising Stoch RSI ideally indicates increasing momentum and growth for this memecoin in the market.
Maintaining a bullish sentiment could push the price toward its multi-month high of $1.46. On the contrary, an increased profit-booking could result in it plunging toward its low of $0.875 in the upcoming time.
POPCAT Price Prediction For This Week:
Taking advantage of the momentum, the Popcat price soared over 13% in value. With a sharp rise, the POPCAT token experienced a volume surge of 74%, bringing its position to 135 with a valuation of $404.34 million.
The Simple Moving Average (SMA) in the daily time frame has recorded a positive crossover around the $0.4099 mark. This suggests a significant rise in the buying-over-selling pressure for the POPCAT meme coin in the crypto market.
The Relative Strength Index (RSI) indicator records a constant rise toward its neutral zone and is currently valued at 48.20. Adding to this, its linear trendline is closely moving to the RSI, hinting at a potential bullish reversal shortly.
If the Popcat (SOL) price breaks out of its $0.430 range, its value to gain significant traction and potentially head toward its $0.60 range as it is its next major resistance level. However, a failed bullish momentum could open the gate toward its test support of $0.33 this week.
Also read: Classover Signs $500M Deal to Build Solana Treasury Reserve
