The cryptocurrency market has witnessed a decline in trading activity in the last month. At 2.41 trillion at press time, global cryptocurrency market capitalization has dropped by 11% in the past 30 days. This has impacted the performance of the leading crypto asset, Bitcoin (BTC), whose price has fallen by 12% during the period under review. 

As June nears its end, some altcoins have witnessed a resurgence in bullish bias toward them. Maker (MKR), Injective (INJ), and Kaspa (KAS) are some of the altcoins that may perform better than BTC in July. 

MakerDAO (MKR) Aims to Extend Seven-Day Rally

MKR is the governance token of MakerDAO, a leading cryptocurrency lending platform. In the past seven days, the altcoin’s price has risen by almost 10%.

This uptick is due to a rally in the token’s buying pressure during that period. Its Relative Strength Index (RSI) is in an uptrend at 56.12 at press time. This indicator measures an asset’s overbought and oversold market conditions.

It oscillates between 0 and 100, with values above 70 suggesting that the asset is overbought and may be due for a reversal. Conversely, values below 30 indicate that the asset is oversold and may witness a rebound. 

MKR’s RSI signals that buying pressure outweighs selling activity among market participants. 

The setup of MKR’s Directional Movement Index (DMI) confirms the position above. At press time, the token’s positive directional index (blue) lies above its negative index (red). This bullish signal confirms that bull strength is dominant in the market.

Read more: Dai (DAI) Cryptocurrency: A Beginner’s Guide

If MKR bulls remain in control, the token’s price may climb to $2612.

Injective (INJ) Rallies Past 20-Day Exponential Moving Average

INJ is the governance token that powers Injective, the Layer-1 (L1) blockchain built for decentralized finance (DeFi) applications.

The altcoin’s value has risen by 10% in the past seven days. It currently sits above its 20-day Exponential Moving Average (EMA). This measures an asset’s average price over the past 20 days.

When an asset’s price climbs above this key moving average, it is a bullish signal. It indicates that there is enough buying pressure to push the price above this average level. Traders often interpret this as a signal that the bullish trend might continue in the short to medium term.

Further, the dots that makeup INJ’s Parabolic Stop and Reverse (SAR) indicator sit under its price. 

This indicator measures an asset’s trend direction and identifies its potential price reversal points. When its dots are under an asset’s price, the market is said to be in an uptrend. It indicates that the asset’s price is rising, and the uptrend may continue. 

If INJ’s uptrend continues, the token may exchange hands at $24.37.

Kaspa (KAS) Witnesses a Double-Digit Price Rally

KAS powers the Kaspa proof-of-work blockchain. The token’s value has risen by over 20% in the past seven days.

The price hike is due to the altcoin’s current bullish bias. To confirm this, its Awesome Oscillator returned green histogram bars at press time.

This indicator measures an asset’s price trends and identifies reversal points. When it posts green bars, it is a bullish signal, indicating that there may be upward movement or strength in the ongoing trend.

Further, its Elder-Ray Index also posts a value above zero as of this writing.  This indicator measures the relationship between the strength of buyers and sellers in the market. When it returns a positive value, it means that bull power dominates the market.  

If KAS maintains its uptrend, its price will rally past $0.2.

The last month has been marked by a decline in Chainlink’s (LINK) large holder netflow to exchanges. This means that the altcoin major holders have only sent a small portion of their holdings to exchanges for sale.

This is attributable to the LINK’s current price performance. As of this writing, the altcoin trades at $14.31. Its value has dropped by 21% in the last month. 

Chainlink Whales Await Rally

As LINK’s price drops, the netflow from its whales to cryptocurrency exchanges has also decreased. In the past 30 days, this has fallen by 110%. 

As of this writing, LINK’s large holder netflow to exchanges to exchange netflow ratio is -0.06%.

This metric measures the proportion of cryptocurrency transferred from whales to exchanges relative to the total exchange netflow. When its value is negative, it means that only a smaller portion of large investor holdings are being sent to exchanges. 

This may be read as a bullish signal, suggesting that large investors are accumulating and not selling their assets. 

According to the token’s market value to realized value (MVRV) ratio, now might be a good time to buy for cohorts of LINK holders anticipating a rebound.

As of this writing, the token’s MVRV Ratios assessed over 30-day and 365-day moving averages are -3.7% and -1.0%, respectively. 

Read More: What Is Chainlink (LINK)?

This metric tracks the ratio between an asset’s current market price and the average price of every coin or token acquired for that asset. 

When its value is negative like this, the market price of the asset in question is less than the average purchase price of all its tokens in circulation. 

This is viewed as a buy signal because it means that the asset trades at a discount relative to its historical cost basis.

LINK Price Prediction: Price Will Grow if Investors Seize the Buying Opportunity

If LINK whales continue to refrain from selling, and other investors take advantage of the current dip in the altcoin’s value, its price may rally to $15.17.

However, if the price decline continues, LINK’s price may fall under $13. 

Only a few cryptocurrencies can boast of outperforming meme coins this cycle. Despite their long-standing dominance, these tokens may not take the backseat anytime soon.

Furthermore, investors will be looking to allocate some of their capital to these cryptos in the new month. Here are BeInCrypto’s top meme coins to watch in July.

MAGA Hat (MAGA) Looks Up to Trump’s Campaign

MAGA, the crypto launched in honor of U.S. presidential candidate Donald Trump, tops the list, and the reason is not far-fetched. Elections in the country are scheduled to be held in November, and on Thursday, June 27, the first round of debate took place.

Launched some months back as one of Trump’s Make America Great Again narrative meme coins, MAGA reached a market cap of $263 million in the last week of May. 

However, as of this writing, that value has decreased to $161 million, largely due to profit-taking. Since its launch, MAGA’s price has increased by an incredible 5,034%. 

Technical analysis from the 4-hour chart reveals that the value may be higher in July. At press time, MAGA changes hands at $0.00032. The 4-hour chart also examines indicators, including the Moving Average Convergence Divergence (MACD) and Supertrend.

The Supertrend assists traders in identifying market trends and spot buy and sell signals. The MACD, on the other hand, checks whether a trend is bullish or bearish by subtracting the 26-day EMA from the 12-day EMA.

At press time, the green part of the Supertrend is below MAGA’s price ‚ specifically at $0.00029. This implies a buy signal for the meme coin. With the red region not anywhere close, MAGA may reach $0.00038 in the short term.

However, the MACD remains negative, indicating that momentum is becoming bearish. If this is the case, the meme coin may retrace to $0.00025. But buyers may take advantage of the discount. Consequently, this could lead MAGA’s price toward $0.00042 before July ends.

Jeo Boden’s (BODEN) Decline Could Be a Chance

Following the MAGA meme coins closely is BODEN. The reason for this inclusion is as clear as the day, especially as political tension in the U.S. heightens. Max Jones, founder of Memepad, explains this in a recent statement.

“PolitiFi memecoins are a major reflection of the industry’s public image as they relate to the ongoing election campaigns in the US.” Jones notes.

On June 27, BODEN’s price was $0.13, a 12% decrease from June 26. However, the meme coin continued to tank after the first public debate, with the price plunging to $0.080.

Furthermore, the 4-hour chart shows that BODEN is close to its bottom due to the descending triangle formed on the 4-hour chart.

This pattern is characterized by a series of lower highs and a flat trend line that acts as support. If demand is low in this instance, the bearish pattern may continue. The Awesome Oscillator measures momentum and supports a move down to $0.060.

However, if bulls defend this region, BODEN’s price can recover and possibly retest $0.15 in July.

Read More: What Are Meme Coins?

Frog-Themed Pepe (PEPE) Eyes Gains

PEPE is one of the top meme coins built on Ethereum. Because of the imminent spot Ethereum ETF launch, it will be one to watch in July.  

At press time, PEPE trades at $0.000012. However, the price is above 20 EMA (blue), which is the average price of the cryptocurrency over the past 20 trading days. As long as PEPE does not drop below this price, the token will not undergo a correction.

Furthermore, the Relative Strength Index (RSI), which measures momentum, is rising. If this continues, PEPE can retest $0.000015 in July. However, rejection of the forecast may send the value down to $0.000011.

POPCAT Price Slips But Can It Rebound?

A notable inclusion is POPCAT, one of the top meme coins on the Solana blockchain. In the last 24 hours, POPCAT’s price has increased by 16.58%. The Bollinger Bands (BB) on the 4-hour chart shows that the token is experiencing high volatility.

Apart from volatility, the BB also shows if a cryptocurrency is overbought or oversold. When the upper band of the indicator touches the price, it is oversold. Conversely, if the lower band taps the price, it is oversold.

Previously, the upper band tapped POPCAT at $0.60, indicating that the token was oversold. Later, the retrace happened, and as of this writing, it trades at $0.54. The Relative Strength Index (RSI), whose reading was initially over 70.00, indicated the same. 

By the looks of things, POPCAT may reverse to $0.49 as bullish momentum drops. It can also decline to $0.42 if many holders book profits.

If this happens, it may provide another buying opportunity for traders. In addition, the token may replicate its recent performance in July. Should this be the case, the POPCAT price may attempt to reach $0.67.

Dogwifhat (WIF) Moves Toward Resurgence 

In April, predictions went round, expecting WIF to reach $5. But after hitting an all-time high of 

$4.84, the meme coin went through a correction phase that plunged the price to $1.59 on June 23. 

However, the cryptocurrency’s value has increased by 3.51% in the last 24 hours. Trading at $2.106, the Money Flow Index (MFI) shows that capital has begun to flow back into the WIF market.

This rise in the reading is a sign of buying pressure. If sustained, the price of WIF may not revisit its all-time high, but targets between $2.47, $2.98, and $3.35 look plausible in July. 

Another factor that can propel the price is the optimism regarding the recent Solana ETF application, especially as WIF is the top meme coin on the blockchain.

Read More: How to Buy Solana Meme Coins: A Step-by-Step Guide

In conclusion, there are other meme coins to look forward to. One of them is BOBBY, named after Robert Kennedy Jr., another candidate vying for U.S. presidency. 

BOBBY’s market capitalization, at $87.36 million, is much lower than BODEN and MAGA’s. Meanwhile, Max Jones adds that the token is in the mix.

‘“As the campaign heats up, these memecoins may serve as a popularity check among the respective candidates. While it remains unknown which of these memecoins will stand the test of time, they currently serve as an uncommon litmus test for Trump, Biden, and RKF.” The Memepad founder says.