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Memecoins have been rapidly recovering in the recent bull market. Among these rapid rises, Popcat (POPCAT) and Dogwifhat (WIF) stand out with notable price movements. Analysis of these two popular memecoins shows a potential for their prices to double.
Popcat (POPCAT) Price Analysis
Popcat has gained momentum in the current bull market, ending the correction phase on the daily time frame price chart. Popcat, initiating a bull cycle within an expanding channel, is facing a V-shaped recovery rally. According to Fibonacci levels, Popcat, which has surpassed the 50-day exponential moving average (EMA) over the correction wave, is challenging the 38.20% Fibonacci level.
The memecoin rose by 137% with the triple white soldier formation, climbing from the dip level of $0.25 formed during the crash. If Popcat’s price continues to rise, it may challenge the psychological barrier at $1.
Dogwifhat (WIF) Price Analysis
Dogwifhat generally shows a downtrend on the daily time frame price chart and has formed a falling wedge pattern. The approach of the declining 50-day EMA to the 200-day EMA is forming a bearish signal known as the death cross. Despite all this, WIF’s price shows signs of a bullish reversal from the support trend line after the crash.
With the triple white soldier formation, WIF rose by 55%, climbing from the dip level of $1.07 formed during the crash. As the bull run gains momentum, a potential breakout run could push the memecoin’s price to $3.40. Therefore, WIF’s price trend has a potential for a 103% rise in the coming weeks.
Looking at the price analyses of Popcat and Dogwifhat, both memecoins have shown significant price movements. Popcat stands out by completing the correction phase and forming a strong uptrend, while Dogwifhat offers a potential rise within a falling wedge formation. Both coins provide strong signals in terms of technical analysis and present opportunities that investors should closely follow.
