Market
5 Meme Coins to Watch in November 2024
The crypto market is observing a major shift from altcoins to meme coins with some big names rallying by as much as 1,000% this month. Thus, it evokes the curiosity of what can be expected from this sector in the second last month of the year.
BeInCrypto has analyzed five meme coin tokens that are likely set to defy expectations and validate the meme coin cycle claims that the founder of CryptoQuant, Ki Young Ju, is not on board with.
“I agree with everything memecoiners talk about, except for the memecoin cycle. Social media has evolved from being centered on relationships with friends and family to focusing on shared interests. The next step is social media driven by economic interests, which was the vision of Web3. Memecoins are just a temporary alignment of economic and shared interests in this transitional phase of social media,” said Ju.
Nevertheless, this does not take away from the fact that these five meme coins have something great ahead of them.
Goatsues Maximus (GOAT)
GOAT’s price shocked the crypto market with a remarkable 1,012% surge in under a month, achieving a new all-time high of $0.902. This rapid ascent has drawn attention to the meme coin, making it a standout in the altcoin sector.
GOAT’s recent price action has caught the eye of meme coin enthusiasts, who are optimistic about its potential. With strong momentum, the altcoin could achieve another all-time high in November.
Read more: 7 Hot Meme Coins and Altcoins that Are Trending in 2024
However, GOAT’s bullish momentum may face challenges if holders start to sell for profit. A sell-off could drive the price down to $0.466, a crucial support level. A breach below this level would likely invalidate the bullish outlook, signaling potential instability and prompting a cautious stance from investors.
Popcat (POPCAT)
POPCAT reached a new all-time high of $1.67 this month, marking a 60% rise over four weeks. Although its gains weren’t as dramatic as other meme tokens, POPCAT stands out as one of the top-performing Solana-based meme coins. Investors remain optimistic about its ongoing price potential.
POPCAT’s outlook for November appears mostly bullish, potentially pushing the altcoin closer to the $2.00 mark. The growing interest among meme coin enthusiasts is fueling this momentum, making POPCAT a key watchlist item.
However, if POPCAT holders decide to sell and secure profits, the price could fall toward $1.00, risking the current bullish sentiment. Such a drop would likely invalidate positive forecasts, highlighting the need for sustained holding.
Simon’s Cat (CAT)
CAT’s price has shown fluctuations since the start of the month, yet it continues its push toward a new all-time high beyond $0.00004650. This persistent attempt highlights investor optimism, as CAT remains a popular choice within the meme coin market. Traders are closely monitoring for any upward trend.
Currently, CAT sits 33.5% below its all-time high of $0.00004650. For CAT to reach this level, securing strong bullish momentum is essential. Achieving this upward drive could position the meme coin to break new records, sparking increased interest and potential investment across the market.
However, if CAT fails to maintain bullish momentum, it risks losing support at $0.00003410. A decline below this crucial level could push CAT down to $0.00002807, jeopardizing its upward outlook. This support loss would signal a potential downturn.
SPX6900 (SPX)
SPX has surged by an impressive 475% over the past four weeks, positioning it among the top-performing meme coins of the month. This rapid rise led SPX to achieve a new all-time high (ATH) of $1.198, drawing considerable attention from investors and meme coin enthusiasts alike.
In the last 24 hours, SPX recorded a 12% increase, indicating strong upward momentum. This recent rise places SPX on a promising trajectory, with the potential to reach another ATH in the coming month. Market sentiment remains optimistic, driven by SPX’s remarkable performance and continued growth.
However, if broader market conditions turn bearish, SPX may face downward pressure. A drop below the $0.704 support level could lead to a further decline toward $0.568. Falling below this threshold would likely invalidate the bullish outlook.
Gigachad (GIGA)
GIGA’s price soared by 129% over the past month, currently trading at $0.055. In the last 10 days alone, the altcoin set two all-time highs, with the most recent at $0.069. This upward momentum has made GIGA a popular topic within the meme coin community.
GIGA’s outlook for November leans bullish, with the potential to set another all-time high. The token has become one of the most discussed assets among meme coin enthusiasts, driving anticipation and trading interest. Market watchers are hopeful that continued demand will sustain this positive trajectory into the coming month.
Read More: 7 Best Base Chain Meme Coins to Watch in October 2024
However, GIGA’s bullish potential depends on maintaining support at $0.040. If this crucial level is lost, the price may dip to $0.026, which would erase recent gains. Such a decline would likely shift market sentiment and could invalidate the current bullish outlook, signaling a potential downturn for GIGA.
Disclaimer
In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
Market
Bitcoin Price Approaches $100K: The Countdown Is On
Bitcoin price is rising steadily above the $95,000 zone. BTC is showing positive signs and might soon hit the $100,000 milestone level.
- Bitcoin started a fresh increase above the $95,000 zone.
- The price is trading above $95,000 and the 100 hourly Simple moving average.
- There is a key bullish trend line forming with support at $95,200 on the hourly chart of the BTC/USD pair (data feed from Kraken).
- The pair could continue to rise if it clears the $100,000 resistance zone.
Bitcoin Price Sets Another ATH
Bitcoin price remained supported above the $92,000 level. BTC formed a base and started a fresh increase above the $95,000 level. It cleared the $96,500 level and traded to a new high at $98,999 before there was a pullback.
There was a move below the $98,000 level. However, the price remained stable above the 23.6% Fib retracement level of the upward move from the $91,500 swing low to the $98,990 high. There is also a key bullish trend line forming with support at $95,200 on the hourly chart of the BTC/USD pair.
The trend line is close to the 50% Fib retracement level of the upward move from the $91,500 swing low to the $98,990 high. Bitcoin price is now trading above $96,000 and the 100 hourly Simple moving average.
On the upside, the price could face resistance near the $98,880 level. The first key resistance is near the $99,000 level. A clear move above the $99,000 resistance might send the price higher. The next key resistance could be $100,000.
A close above the $100,000 resistance might initiate more gains. In the stated case, the price could rise and test the $102,000 resistance level. Any more gains might send the price toward the $104,500 resistance level.
Downside Correction In BTC?
If Bitcoin fails to rise above the $100,000 resistance zone, it could start a downside correction. Immediate support on the downside is near the $98,000 level.
The first major support is near the $96,800 level. The next support is now near the $95,500 zone and the trend line. Any more losses might send the price toward the $92,000 support in the near term.
Technical indicators:
Hourly MACD – The MACD is now gaining pace in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level.
Major Support Levels – $96,800, followed by $95,500.
Major Resistance Levels – $99,000, and $100,000.
Market
This Is Why XRP Price Rallied By 25% and Could Soon Hit $2
Ripple’s (XRP) price rallied by 25% in the last 24 hours following Gary Gensler’s announcement that he would resign as the US Securities and Exchange Commission (SEC) chair on January 20, 2025.
This development comes as a relief to the popular “XRP Army,” which has had to deal with suppressed price action due to the Gensler-led SEC’s nonstop petitions against Ripple. But that is not all that happened.
Ripple Bears Face Notable Liquidation Following Gensler’s Notification
Gensler’s announcement appears to be a positive development for the broader crypto market. But XRP holders seemed to benefit the most. This was particularly significant given the unresolved Ripple-SEC legal issues that have persisted throughout the SEC Chair’s tenure.
As a result, it came as no surprise that XRP price rallied and outpaced those of any other cryptocurrency in the top 10. Furthermore, the development triggered liquidations totaling $26.11 million over the last 24 hours.
Liquidation occurs when a trader fails to meet the margin requirements for a leveraged position. This forces the exchange to sell off their assets to prevent further losses. In XRP’s case, the liquidation primarily resulted in a short squeeze.
A short squeeze happens when a large number of short positions (traders betting on price declines) are forced to close, driving the price higher as they rush back to buy back the asset.
At press time, XRP trades at $1.40 and currently has a market cap of $80.64 billion. With Gensler almost gone, crypto lawyer John Deaton noted that XRP price gains could be higher, and the market cap could climb to $100 billion.
“XRP soon will achieve a $100B market cap. Times are changing,” Deaton wrote on X.
Meanwhile, CryptoQuant data shows that the total number of XRP sent into exchange has significantly decreased. Typically, high values indicate increased selling pressure in the spot market. This is because it suggests that more assets are being offloaded, potentially driving prices lower.
However, since it is low, XRP holders are refraining from selling. If this remains the case, the token’s value could rise higher than $1.40.
XRP Price Prediction: $2 Coming?
According to the 4-hour chart, XRP has been trading within a range of $1.04 to $1.17 since November 18. This sideways movement has resulted in the formation of a bull flag — a bullish chart pattern that signals potential upward momentum.
The bull flag begins with a sharp price surge, forming the flagpole, driven by significant buying pressure that outpaces sellers. This is followed by a consolidation phase, where the price retraces slightly and moves within parallel trendlines, creating the flag structure.
Yesterday, XRP broke out of this pattern, signaling that bulls have seized control of the market. If this momentum persists, XRP’s price could surpass $1.50, potentially approaching the $2 threshold.
However, this bullish scenario hinges on market behavior. If holders decide to secure profits, selling pressure could push XRP’s price below $1, erasing recent gains.
Disclaimer
In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
Market
Dogecoin (DOGE) Shows Renewed Energy: Rally Incoming?
Dogecoin is consolidating gains above the $0.380 resistance against the US Dollar. DOGE is holding gains and eyeing more upsides above $0.400.
- DOGE price started a fresh increase above the $0.3750 resistance level.
- The price is trading above the $0.3800 level and the 100-hourly simple moving average.
- There was a break above a short-term contracting triangle with resistance at $0.390 on the hourly chart of the DOGE/USD pair (data source from Kraken).
- The price could continue to rally if it clears the $0.400 and $0.4080 resistance levels.
Dogecoin Price Eyes More Upsides
Dogecoin price remained supported above the $0.350 level and recently started a fresh increase like Bitcoin and Ethereum. DOGE was able to clear the $0.3650 and $0.3750 resistance levels.
The price climbed above the 50% Fib retracement level of the downward move from the $0.4208 swing high to the $0.3652 low. Besides, there was a break above a short-term contracting triangle with resistance at $0.390 on the hourly chart of the DOGE/USD pair.
Dogecoin price is now trading above the $0.3750 level and the 100-hourly simple moving average. Immediate resistance on the upside is near the $0.3950 level or the 61.8% Fib retracement level of the downward move from the $0.4208 swing high to the $0.3652 low.
The first major resistance for the bulls could be near the $0.400 level. The next major resistance is near the $0.4080 level. A close above the $0.4080 resistance might send the price toward the $0.4200 resistance. Any more gains might send the price toward the $0.4500 level. The next major stop for the bulls might be $0.500.
Are Dips Supported In DOGE?
If DOGE’s price fails to climb above the $0.400 level, it could start a downside correction. Initial support on the downside is near the $0.3850 level. The next major support is near the $0.3750 level.
The main support sits at $0.3550. If there is a downside break below the $0.3550 support, the price could decline further. In the stated case, the price might decline toward the $0.3200 level or even $0.300 in the near term.
Technical Indicators
Hourly MACD – The MACD for DOGE/USD is now gaining momentum in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for DOGE/USD is now above the 50 level.
Major Support Levels – $0.3850 and $0.3750.
Major Resistance Levels – $0.4000 and $0.4200.
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