Meme coin season appears to be back in full swing, with several tokens registering notable double-digit hikes. Leading the charge are cat-themed Popcat (POPCAT), Ethereum-based Mog Coin (MOG), and First Neiro on Ethereum (NEIRO).

As of this writing, POPCAT’s price has increased by 15% in the last 24 hours, while MOG jumped by 18.40%. NEIRO, on the other hand, recorded a better performance with a 46.60% hike within the same period. With interest in these tokens rising, this analysis evaluates if the rallies will continue and help meme coins reclaim the spotlight.

Popcat Continues to Climb But Could Retrace

On Saturday, October 5, BeInCrypto reported that POPCAT hit a new all-time high of $1.29. Today, the price has surpassed that, reaching $1.43. This increase signals strong investor interest in the meme coin.

The 4-hour chart reveals resistance at $1.48. Additionally, the Relative Strength Index (RSI), which measures momentum, stands at 72.05. An RSI reading above 70.00 indicates that a cryptocurrency is overbought, suggesting a potential price drop.

In POPCAT’s case, a pullback toward $1.28 seems possible. However, if bulls maintain pressure, the token’s price could climb further, potentially reaching $1.60.

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Mog Coin Sets Sights on $0.0000020

Unlike Popcat, MOG’s price increase to $0.0000016 did not lead the meme coin to a new all-time high. However, the token has the potential to hit a higher value in the short term. On the daily chart, the Moving Average Convergence Divergence (MACD) is positive.

The MACD gauges momentum and identifies periods for buying or selling a cryptocurrency. When the reading is positive, momentum is bullish. Conversely, a negative MACD reading indicates a bearish momentum.

Since it is the latter, MOG’s price might continue to climb. If the momentum remains the same, the MOG’s value could hit $0.0000020 in the short term. Meanwhile, if buying pressure decreases, this prediction might come to pass. Instead, the token’s price could drop to $0.0000014.

NEIRO’s Bullish Momentum to Subside

First Neiro on Ethereum (NEIRO) also hit a new all-time high. But as soon as the meme coin hit $0.0015, it pulled back. Following the decline, the Balance of Power (BoP) also dropped. The BoP is a price-based indicator used to evaluate the overall strength of buyers and sellers in the market. 

Furthermore, the indicator oscillates around the zero line, where positive values indicate bullish dominance and negative values indicate bearish ones. As of this writing, the BoP on NEIRO’s 4-hour chart is down to -0.32, suggesting that bears have the upper hand.

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Should this continue, NEIRO’s price might soon decline to $0.0012. However, if bulls reclaim dominance, the current price trend might turn around, and the meme coin’s value could jump past $0.0016.

Dogwifhat (WIF) price is on the verge of a potential breakout, with price action suggesting it could surpass the $3 mark. Today, WIF’s price has increased by 13%, making it one of the best-performing cryptos in the last 24 hours.

As traders closely monitor its movements, indicators hint at a sustained upward trajectory. This analysis explores the technical patterns supporting this bullish outlook and the key levels to watch.

Dogwifhat Volume Rises with the Price

At press time, WIF’s price stands at $2.68. Beyond its price increase, the meme coin has seen a notable surge in volume. According to Santiment, Dogwifhat’s trading volume has reached $719.31 million in the last 24 hours, signaling rising interest in the token as it continues its two-week comeback.

Typically, a rising price with falling volume is seen as a bearish signal, as it suggests weak liquidity behind the trend. However, WIF’s increasing price, coupled with its rising volume, strengthens its current uptrend. For the rally to continue, trading volume needs to keep climbing. If this momentum holds, WIF could push toward $3 or beyond.

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Furthermore, the Weighted Sentiment around WIF, which was previously in the negative zone, has jumped to positive territory. Weighted Sentiment shows the level of positive or negative remarks about a cryptocurrency online.

When the reading rises, it indicates that there are more positive comments on social media than negative ones. Conversely, a negative rating suggests the opposite. With WIF’s Weighted Sentiment currently positive, this implies that demand for the token could increase, potentially driving the price higher.

WIF Price Prediction: $3 and More to Come

Based on the daily chart, WIF’s price is trading well above the Ichimoku Cloud. The Ichimoku Cloud is a collection of indicators that shows support, resistance, and spot trends. However, the cloud is the most important part of all the indicators.

Typically, when the price is below the cloud, the trend is bearish. However, at press time, the cloud is below WIF’s price, suggesting a bullish trend for the meme coin. Should this remain the same, the meme coin’s value could rise above the $2.82 resistance, possibly climbing to $3.22 in the short term. 

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However, WIF’s price might retrace if it fails to breach the overhead resistance. In that scenario, the meme coin could drop to $2.30.

Artificial Superintelligence Alliance (FET) has been on a downward trend since September 25, losing 9% of its value. While the dip might appeal to investors seeking buying opportunities, the token’s technical setup indicates a potential further decline of up to 50%.

This analysis highlights what investors looking to trade against the market need to take note of. 

Artificial Superintelligence Alliance Is Undervalued, But There Is a Catch

An assessment of FET’s market value to realized value (MVRV) ratio, which measures the overall profitability of all its holders, shows that it has turned negative. As of this writing, the token’s 7-day and 30-day MVRV ratios are -51.03 and -10.81, respectively. 

When an asset’s MVRV ratio is negative, it trades at a value below the average price at which most investors acquired the asset. As such, if all its holders sold their tokens at the current market price, they would collectively realize a loss. 

Further, it also indicates that the asset is undervalued, presenting a buying opportunity for traders looking to buy low and sell high. Historically, a negative MVRV signals that the asset is traded below its historical acquisition cost and may be due for a rebound.

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However, while readings from FET’s MVRV ratio flash a buying opportunity, traders who heed the signal may record losses as its technical setup hints at the possibility of an extended decline.  

FET’s moving average convergence/divergence (MACD) indicator, assessed on a one-day chart, signals a strengthening selling pressure. As of this writing, the indicator’s MACD line (blue) is below its signal line (orange) and poised to breach its zero line. 

The MACD line crossing below the signal line suggests the current downward price movement is gaining momentum. It implies that there is increasing selling pressure in the market.

FET Price Prediction: Downtrend Is Strong

FET’s Aroon Down Line, which measures the strength of its downtrend, confirms that its price decline is gaining momentum. As of this writing, this stands at 71.43%. 

A reading near 100% for the Aroon Down line suggests that the price has been making consistent lower highs and is in a strong downtrend. If this downtrend continues,  FET’s price may fall by 53% to trade at its August 5 low of $0.70.

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However, if it sees a spike in buying volume, FET’s price may witness a rebound and rally toward $2.42.