March emerged as a harbinger of bullish trends in cryptocurrencies. During March, price movements led Bitcoin to its all-time highs (ATH) and Ethereum also crossed the $4,000 mark. Additionally, a significant development occurred in the meme coin sector.
Analyst Comments on Meme Coins
A well-known crypto analyst reiterated the bullish outlook for a meme coin that has increased more than twentyfold since the beginning of March.
The analyst, known as Crypto Dog, went to social media platform X and highlighted that Jeo Boden’s (BODEN) meme coin is nearing a breakout after a consolidation period.
Looking at the chart shared by Crypto Dog, it appears that BODEN is testing a downward sloping resistance level on the daily chart.
BODEN had a price level of $0.0249 on March 9. It then reached an all-time high with a 2,466% increase. As of today’s writing time, it continues to trade at $0.639.
According to the analyst, besides BODEN, various other meme coins including dogwifhat (WIF) continue to show a bullish outlook.
Not just WIF, but a handful of medium/high capital meme coins are targeting new peaks.
Latest on NEAR Protocol
On the other hand, the analyst also reviewed NEAR Protocol (NEAR), highlighting its potential for growth alongside other cryptocurrencies and its involvement in artificial intelligence (AI) processes.
Last year, Illia Polosukhin, co-founder of the Layer-1 blockchain, announced that AI would become one of the key verticals for the NEAR ecosystem by 2024, generating excitement.
…I still believe NEAR will lead in the coming weeks and months.
It looks structurally great, performing better than Bitcoin and even Solana after the recent dip.
As of the writing time, NEAR Protocol is trading at $6.94, indicating a 3.44% decrease over the last 24 hours.
This price drop also caused the market cap to shrink to $7.3 billion. The 24-hour trading volume has decreased by 2%, amounting to $750 million.
