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.
Ethereum price started a fresh increase above the $3,220 zone. ETH is rising and aiming for more gains above the $3,350 resistance.
- Ethereum started a fresh increase above the $3,220 and $3,300 levels.
- The price is trading above $3,250 and the 100-hourly Simple Moving Average.
- There is a short-term contracting triangle forming with resistance at $3,360 on the hourly chart of ETH/USD (data feed via Kraken).
- The pair could gain bullish momentum if it clears the $3,385 resistance zone.
Ethereum Price Regains Traction
Ethereum price remained supported above $3,000 and started a fresh increase like Bitcoin. ETH gained pace for a move above the $3,150 and $3,220 resistance levels.
The bulls pumped the price above the $3,300 level. It gained over 10% and traded as high as $3,387. It is now consolidating gains above the 23.6% Fib retracement level of the recent move from the $3,036 swing low to the $3,387 high.
Ethereum price is now trading above $3,220 and the 100-hourly Simple Moving Average. On the upside, the price seems to be facing hurdles near the $3,350 level. There is also a short-term contracting triangle forming with resistance at $3,360 on the hourly chart of ETH/USD.
The first major resistance is near the $3,385 level. The main resistance is now forming near $3,420. A clear move above the $3,420 resistance might send the price toward the $3,550 resistance. An upside break above the $3,550 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $3,650 resistance zone or even $3,880.
Another Decline In ETH?
If Ethereum fails to clear the $3,350 resistance, it could start another decline. Initial support on the downside is near the $3,300 level. The first major support sits near the $3,250 zone.
A clear move below the $3,250 support might push the price toward $3,220 or the 50% Fib retracement level of the recent move from the $3,036 swing low to the $3,387 high. Any more losses might send the price toward the $3,150 support level in the near term. The next key support sits at $3,050.
Technical Indicators
Hourly MACD – The MACD for ETH/USD is gaining momentum in the bullish zone.
Hourly RSI – The RSI for ETH/USD is now above the 50 zone.
Major Support Level – $3,250
Major Resistance Level – $3,385
Ethereum price started a fresh increase above the $3,220 zone. ETH is rising and aiming for more gains above the $3,350 resistance.
- Ethereum started a fresh increase above the $3,220 and $3,300 levels.
- The price is trading above $3,250 and the 100-hourly Simple Moving Average.
- There is a short-term contracting triangle forming with resistance at $3,360 on the hourly chart of ETH/USD (data feed via Kraken).
- The pair could gain bullish momentum if it clears the $3,385 resistance zone.
Ethereum Price Regains Traction
Ethereum price remained supported above $3,000 and started a fresh increase like Bitcoin. ETH gained pace for a move above the $3,150 and $3,220 resistance levels.
The bulls pumped the price above the $3,300 level. It gained over 10% and traded as high as $3,387. It is now consolidating gains above the 23.6% Fib retracement level of the recent move from the $3,036 swing low to the $3,387 high.
Ethereum price is now trading above $3,220 and the 100-hourly Simple Moving Average. On the upside, the price seems to be facing hurdles near the $3,350 level. There is also a short-term contracting triangle forming with resistance at $3,360 on the hourly chart of ETH/USD.
The first major resistance is near the $3,385 level. The main resistance is now forming near $3,420. A clear move above the $3,420 resistance might send the price toward the $3,550 resistance. An upside break above the $3,550 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $3,650 resistance zone or even $3,880.
Another Decline In ETH?
If Ethereum fails to clear the $3,350 resistance, it could start another decline. Initial support on the downside is near the $3,300 level. The first major support sits near the $3,250 zone.
A clear move below the $3,250 support might push the price toward $3,220 or the 50% Fib retracement level of the recent move from the $3,036 swing low to the $3,387 high. Any more losses might send the price toward the $3,150 support level in the near term. The next key support sits at $3,050.
Technical Indicators
Hourly MACD – The MACD for ETH/USD is gaining momentum in the bullish zone.
Hourly RSI – The RSI for ETH/USD is now above the 50 zone.
Major Support Level – $3,250
Major Resistance Level – $3,385
GOAT price has skyrocketed 214.29% in one month, recently breaking into the $1 billion market cap and securing its place as the 10th largest meme coin. It now stands just ahead of MOG, which closely trails its position in the rankings.
However, recent indicators suggest that GOAT’s uptrend may be weakening, raising questions about whether it can sustain its rally or face a potential correction.
GOAT BBTrend Is Negative For The First Time In 4 Days
GOAT BBTrend has turned negative for the first time since November 17, now sitting at -0.54. This shift suggests that bearish momentum is beginning to take hold, with the asset’s recent upward trajectory starting to weaken potentially.
BBTrend measures the strength and direction of price trends using Bollinger Bands, with positive values indicating an uptrend and negative values signaling a downtrend. A negative BBTrend reflects increased downward pressure, which could indicate the start of a broader market shift.
GOAT has had an impressive November, gaining 61% and reaching a new all-time high on November 17.
However, the current negative BBTrend, if it persists and grows, could signal the potential for further bearish momentum.
GOAT Is In A Neutral Zone
GOAT’s RSI has dropped to 52, down from over 70 a few days ago when it reached its all-time high. This decline indicates that buying momentum has cooled off, and the market has moved out of the overbought zone.
The drop suggests a shift toward a more neutral sentiment as traders consolidate gains and the strong bullish pressure seen earlier subsides.
RSI measures the strength and velocity of price changes, with values above 70 indicating overbought conditions and below 30 signaling oversold levels. At 52, GOAT’s RSI is in a neutral zone, neither signaling strong bullish nor bearish momentum.
This could mean the current uptrend is losing strength, and the price may consolidate or move sideways unless renewed buying pressure reignites upward momentum.
GOAT Price Prediction: A New Surge Until $1.50?
If GOAT current uptrend regains strength, it could retest its all-time high of $1.37, establishing its market cap above $1 billion, a fundamental threshold for being among the biggest meme coins in the market today.
Breaking above this level could pave the way for further gains, potentially reaching the next thresholds at $1.40 or even $1.50, signaling renewed bullish momentum and market confidence.
However, as shown by indicators like RSI and BBTrend, the uptrend may be losing steam. If a downtrend emerges, GOAT price could test its nearest support zones at $0.80 and $0.69.
Should these levels fail to hold, the price could fall further, potentially reaching $0.419, putting its position in the top 10 ranking of biggest meme coins at risk.
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.
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