The memecoin segment has created havoc in the crypto market again, with bullish momentum pushing capital into high risk and high reward tokens. The limelight is occupied by three memecoins created by different companies and having great technical and fundamental strength: BONK, SPX, and FLOKI.
As its volumes, breakout trends and community interest surge back, the interesting question that everyone will be excited to receive an answer to is; can these tokens beat the rest of the market and establish themselves as market leaders in the near future?
BONK: Major Breakout with Eyes on New Highs
The strongest performing memecoin in recent days, the BONK price has shot approximately +26.45%, resulting in its value reaching a high of $0.00003666. With a market cap of just under $3 billion with a 24-hour volume of $1.77 billion, the BONK meme coin is now an asset not to be ignored.
The chart shows a parabolic breakout over significant and below resistance levels of $0.00002815 and $0.00003210 with price action currently hovering around its resistance level of $0.00003910.
Moreover, the strength is maintained and supported by the high volume and bullish candles that are stacked on top of one another.
Provided that the token manages to gain attention, then it could retest its resistance at $0.00003910 or $0.00004250 and possibly at $0.00004650 within a short period. However, a rebound may pull the value toward its low of $0.00003210.
FLOKI: Testing Key Resistance With Volume Uptick
The FLOKI price is up 15.76% in the past 24hrs and currently trading at 0.00011380 with the high of $0.0001146. With a market cap of $1.09 billion, it is constantly hovering between $0.00011550 and $0.00011200.
Notably, FLOKI is on the verge of a crossroad. It is trying to break out from a consolidation range over several months and has taken back positions above levels of $0.00009365. An upside breakout above the resistance zone could push the price toward its upper target levels of $0.00011300 or $0.00011550.
Conversely, the price might go back to the support level at $0.00009365 to retest.
SPX: Momentum Builds As All-Time High is Tested
SPX has bagged the highest returns in the memecoins segment over the past 24 hours and is currently valued at $1.8585, approximately 4% away from its ATH of $1.90. The token has jumped 16.72% today with a trading volume of $171.78 million.
Recently, the SPX memecoin broke out of its key resistance levels of $1.50 and $1.75, highlighting increasing bullish momentum. A sustained bullish action could push the value of it toward its upper price targets in the upcoming time.
The SPX6900 meme coin could hit $2 or even $2.25 if the bulls continue to dominate the crypto space. However, a retest to $1.50 cannot be ignored in case of increasing profit-booking this week.
Also Read: U.S House Moves Forward with Crypto Bills After Surprise Revote
