Cryptocurrency prices jumped this week as global investors embraced a risk-on sentiment. Bitcoin jumped to over $66,000 for the first time in weeks while the total market cap of all digital coins soared to $2.3 trillion. This article looks at three popular memecoins: Floki, Pepe, and GameStop (GME).
Floki price forecast
Floki Inu’s price soared to a high of $0.000312 in March and then tumbled to a low of $0.00011 on April 13th. It has now rebounded by over 90% to $0.00022 as the meme stock rally resumes.
The token moved slightly above the crucial resistance level at $0.000205, its highest swing on April 24th and May 4th. This price was above the ascending triangle pattern, which is often a bullish sign in the market.
Notably, the token has jumped above the 50-day and 100-day Exponential Moving Averages (EMA). It also remains between the first and second support levels of the Andrews Pitchfork tool.
At the same time, the price of Floki Inu has jumped above the 38.2% Fibonacci Retracement level and the Ichimoku cloud. Therefore, the outlook for the token is extremely bullish, with the next level to watch being at $0.0002450, the 23.6% retracement point.
Pepe price prediction
The price of Pepe continued its strong bull run this week, making it one of the best-performing tokens in the market. It jumped to a high of $0.00001160, up by over 190% from its lowest level in April this year.
Most notably, Pepe surged above the crucial resistance level at $0.0000091, the neckline of the inverse head and shoulders pattern. In most periods, this is one of the most bullish signs in the financial market.
Pepe also rose briefly above the key resistance point at $0.0001080, its previous highest point in March. It has also remained above the 50-day and 100-day Exponential Moving Averages (EMA).
Therefore, the outlook for the token is that it will retest the support at $0.000010 and then resume the bullish trend. More upside will be confirmed if the price moves above this week’s high of $0.00001160.
GameStop crypto price forecast
The GameStop (GME) token came into the spotlight this week as its stock more than tripled, marking the return of the meme stock mania. It jumped from less than $20 on Friday to over $64 on Tuesday this week.
The GME token surged to a high of $0.019, its highest swing since February 6th of this year. At its highest point, the token was up by over 4,700% from its lowest level this year, giving it a market cap of over $134 million.
GME has now pulled back from this week’s high of $0.0197 to a low of $0.010. This retreat happened after the stock fell by 18% in Wednesday’s regular session and another 8% in the extended session.
The decline is also happening as traders start to take profits. Still, I believe that the meme stock frenzy is not over yet, meaning that the token will bounce back soon as traders buy the dip. My view is that it will drop briefly and then bounce back to form a double-top pattern at $0.0197, which is about 100% higher than the current level.
