Data shows that whales have shown a strong interest in memecoin, leading to a rise in its price.
Even as major cryptocurrencies struggle, the crypto MEME coin sector has been making waves with its impressive performance.
All major meme coins, from Doge [DOGE] to Peanut Squirrel [PNUT], have experienced significant upward momentum.
Potential Reasons for MEME Coin Surge
The potential reason for this significant surge is that investor and institutional interest is gradually shifting from top assets like Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) towards MEME coins. As this interest continues to grow, MEME coins have once again become a hot commodity in the market.
Additionally, several MEME coins have been actively trading over the weekend, attracting more investors' attention. MEME coins including Doge (DOGE), Pepe (PEPE), Dogwifhat (WIF), and Bonk (BONK) have recently achieved bullish breakouts, further increasing market focus.
Whales' Interest Grows Stronger
Recently, the on-chain analysis company Santiment posted on X (formerly Twitter) that whales have shown a strong interest and confidence in these breakthrough MEME coins, leading to their price increase.
However, the post also mentioned that these MEME coins may continue to rise until they catch the attention of retail investors and trigger buying.
When this happens, the price may start to decline, as whales and institutions typically sell their tokens during this period.
DOGE Price Prediction for December 2024
According to technical analysis by AMBCrypto, Doge (DOGE) is currently retesting the neckline of an ascending triangle price pattern. Historical data shows that if DOGE can successfully break above the critical $0.45 level and close above $0.48 on the daily chart, it could trigger further upward momentum.
In this scenario, DOGE's price is expected to surge by around 18% and reach a target price of $0.58 in the coming days. This forecast suggests that a breakout of key technical levels will have a significant impact on DOGE's short-term performance.
PEPE Price Prediction for December 2024
According to technical analysis by AMBCrypto, Pepe (PEPE) is currently retesting the breakout area of a bullish flag and pole pattern. If PEPE's price can stabilize above $0.0000238, it would indicate strong technical support.
In this case, PEPE could potentially surge by 45% in the coming days, with a target price of $0.0000352. This suggests that the market's confirmation of its bullish pattern will further boost investor confidence, driving a significant price increase.
WIF Price Prediction for December 2024
In addition to DOGE and PEPE, Dogwifhat (WIF) has also recently achieved a breakout, escaping its previous consolidation range. Currently, WIF is retesting the breakout level and showing some upside potential.
If WIF can maintain above $3.40, it could further increase by 25% in the coming days, reaching a target price of $4.60. This trend suggests that WIF's technical breakout may become an important catalyst for its price to climb higher.
These MEME coins appear to be on a strong trajectory, currently retesting their breakout levels.
The market sentiment also seems optimistic, indicating that as whales and institutions continue to show strong interest in these MEME coins, they may experience significant surges in the coming days.
