Will The Meme Coins PEPE, BONK and FLOKI Jump 2x in May?

The post Will The Meme Coins PEPE, BONK and FLOKI Jump 2x in May? appeared first on Coinpedia Fintech News

The falling price of Bitcoin takes a reversal from $56,000 for a 1.45% jump last night and sustains the momentum for a 1.14% intraday jump at press time. With this recovery, the meme coins amplify the bullish sentiment with a sector-wide recovery. 

As the top coins of this sector, DOGE and SHIB, find a place to pivot, the trendy ones are shining brighter. With PEPE, BONK and FLOKI spearheading the bull run, is the meme coin sector the next multi-bagger mine?

Let’s look at the price analysis of top meme coins for a more decisive analysis. 

PEPE The Meme Coin Ready For A Breakout

With a boom in meme coins, the PEPE price projects a crucial breakout entry point in the 4H Chart. As the post-retest rally of a falling channel gains momentum, the meme coin signals an inverted head and shoulder breakout possibility. 

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Rising against the bearish opposition at the $0.0000080 supply zone, the PEPE price experiences a significant rise in momentum. With an intraday rise of 5.59% followed by 7% last night, the meme coin marks the third consecutive bullish candle. 

As per the Fibonacci retracement levels, the breakout rally could surpass the $0.000010 psychological mark to hit the $0.000014 mark. Hence, if the broader market sustains a recovery path, PEPE is set for a 2x surge in May. 

FLOKI Channel Break Could Surpass $0.00030

With a strong resistance trendline at play, the FLOKI price chart showcases bearish dominance. However, a bullish revolt with a short-term falling channel breakout projects a high likelihood of an uptrend continuation.

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With the daily RSI line reflecting a rise in bullish momentum, the sideline traders anticipate an entry opportunity. Further, with an intraday growth of 2.19%, FLOKI aims to revert the bearish trend in the 50 and 200 EMA in the 4H chart. 

As per the Fibonacci levels, the breakout rally could surge the meme coin and challenge the $0.00030 peak. Thus increasing the chances of a 2x surge in May.

Bonk Continues The Gradual Uptrend 

With promising price action, the BONK price sustains the bullish reversal momentum and signals a potential bull run this month. The meme coin shows a bullish flag pattern breakout in the 4H chart following the wedge pattern breakout. 

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With the breakout rally gaining momentum and an overnight jump of 10%, the meme coin is challenging the 50% Fibonacci retracement level. On a positive note, the golden crossover in the 4H chart increases the possibility of an uptrend.

As per the Fibonacci levels, the uptrend could hit the $0.00005877 mark or the 1.618 FIbonacci level. 

Conclusion For Meme Coins

With just 24 hours of recovery in Bitcoin, the meme coin managed a significant bounce back. Considering the uptrend sustains and Bitcoin resurfaces above $60,000, these coins could surge almost 2x this month.