Meme coins are gaining traction even in a bearish market, with Bitcoin reclaiming $105,000 as support, boosting optimism in altcoins. Among the meme tokens, Joe Coin leads with a 26% rise.
BeInCrypto has analyzed two additional meme coins to watch for investors, assessing whether they are poised for further gains or potential losses.
Pepe (PEPE)
Launch Date – April 2023
Total Circulating Supply – 420.69 Trillion PEPE
Maximum Supply – 420.69 Trillion PEPE
Fully Diluted Valuation (FDV) – $4.38 Billion
Contract Address – 0x6982508145454ce325ddbe47a25d4ec3d2311933
PEPE has dropped 22% in the past week, currently trading at $0.00001037 and facing resistance at $0.00001059. Despite this recent decline, the meme coin shows potential for recovery.
The Ichimoku Cloud indicator suggests that PEPE’s bullish momentum remains strong. This technical analysis points to a possible bounce back, with the altcoin potentially rising to $0.00001152. If PEPE can overcome the resistance at $0.00001059, it could regain upward momentum and attract more investor interest.
However, if the broader bearish market conditions persist, PEPE could experience further downside. A drop below $0.00000917 would indicate a weakening market for the altcoin, invalidating the current bullish outlook. This would likely lead to more significant losses for investors in the near term.
Mog Coin (MOG)
Launch Date – July 2023
Total Circulating Supply – 390.56 Trillion MOG
Maximum Supply – 420.69 Trillion MOG
Fully Diluted Valuation (FDV) – $354.93 Million
Contract Address – 0xaaee1a9723aadb7afa2810263653a34ba2c21c7a
MOG is currently trading at $0.000000899, struggling to hold the local support level of $0.000000901. The meme coin has experienced significant volatility over the past month, which has impacted investor confidence. Despite these fluctuations, MOG may still have the potential for a rebound if the market stabilizes.
Given the improving broader market conditions, MOG has a better chance of reclaiming the support level at $0.000000966. A shift in sentiment could allow the altcoin to recover and stabilize. If the market continues to show signs of strength, MOG may push past its current resistance levels.
However, if investor panic sets in and selling pressure increases, MOG could drop below the $0.000000901 support. A fall to $0.000000796 would invalidate the current bullish outlook. In such a scenario, the meme coin would likely face further losses, risking more downside in the short term.
Small Cap Corner – Joe Coin (JOE)
Launch Date – October 2023
Total Circulating Supply – 1 Billion JOE
Maximum Supply – 1 Billion JOE
Fully Diluted Valuation (FDV) – $46.89 Million
Contract Address – 0x76e222b07c53d28b89b0bac18602810fc22b49a8
JOE has surged by 26%, reaching $0.046 at the time of writing, becoming one of the top-performing altcoins. The intraday high briefly pushed the altcoin beyond $0.050, showcasing strong upward momentum. This price movement reflects growing investor interest in JOE as a promising token in the market.
JOE is supported by nearly 9,000 holders who maintain a bullish outlook on the altcoin. In the past 24 hours, the highest profit and loss-making traders have accumulated over $339,000 worth of JOE, further solidifying confidence in its potential. This accumulation is a key indicator of sustained market interest.
This bullish sentiment could help JOE claim $0.050 as a support floor, paving the way for further gains. If the meme coin holds above this level, it may continue its upward trend. However, if investors begin cashing out, JOE could fall back to $0.039, invalidating the current bullish thesis and potentially reversing its momentum.
Disclaimer
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