Over the past few months, there has been a rise in the demand for utility memecoins in the MemeFi space. However, the bearish market has affected the price movement of many memecoins. The good news is that a market rally is on the way.
The bear market has affected the price movement of many memecoins in the past few months. However, there has been a rise in the demand for utility memecoins in the MemeFi space.
With a market rally on the way, analysts have picked five memecoins, which will record massive growth during this bull season. They are Floki, Book of Meme, Shiba Inu, Bonk, and Angry Pepe Fork. Let’s see why analysts are bullish on them.
Floki (FLOKI) Price Forecast
FLOKI has been trading in losses in the past month, along with other memecoins. It failed to capitalize on various news, like the launch of the Floki Inu trading bot, to reach new highs.
Data from CoinMarketCap shows the price of the dog-themed memecoin is consolidating between $0.00011 and $0.00016 on the monthly timeframe. The market cap of Floki coin ranges between $1 billion and $1.6 billion.
Looking ahead, Floki Inu has resistances around the 50-Day SMA ($0.000138) and 200-Day SMA ($0.000161). Crossing the resistance at the 50-day SMA will allow the memecoin to test the 200-day SMA.
Coincodex forecasts the price of Floki coin might reach $0.000159 in the coming weeks. If the bullish momentum is very high, we might see the memecoin soaring to $0.000398 in the long run.
On the flip side, a bearish movement could push the value of Floki to former lows.
Book of Meme (BOME) Set For Breakout After 50-Day SMA Resistance
Another Solana memecoin analysts are expecting to rise to new highs in the coming bull season is Book of Meme (BOME).
Book of Meme CoinGecko data shows losses on the biweekly and monthly timeframes. The cryptocurrency’s market cap is consolidating between a low of $350 million and a high of $600 million.
Also, Book of Meme CoinGecko data shows its price is 76.6% below its all-time high. Going forward, the memecoin has resistance at the 50-Day SMA ($0.007349).
Meanwhile, Coincodex has a bullish Book of Meme price prediction despite the poor situation of the market.
They have two forecasts with the first being a price target of $0.008062 in the short run. The second target is a price target of $0.020186 in the long run.
Despite this bullish Book of Meme price prediction, reaching these targets will depend on the sentiment in the general market.
Shiba Inu (SHIB) Burn Increases By 8,193%, Price To Grow Soon
In the latest Shiba Inu news, data from Shibburn shows the memecoin’s burn rate has skyrocketed by 8,193% in the past day.
This surge burned 3,106,197 SHIB from the circulating supply of Shiba Inu coin. A total of eight transactions were involved in the burning exercise.
Despite this Shiba Inu news, SHIB is still showing losses on the monthly timeframe. Bulls have only been able to spark gains on the weekly timeframes despite the increase in burning activity in the past month.
In terms of price movement, the Shiba Inu coin price is currently below the 50-day SMA at $0.00001447. Its market cap is around the $7-$9.5 billion mark.
Analysts expect the memecoin’s price to skyrocket in the coming bull run. They forecast a possible price target of $0.00002846.
Bonk (BONK) Price Prediction
BONK bulls have woken up after a long bearish period. Data from CoinMarketCap shows the memecoin’s price has increased on the weekly timeframe.
However, the Bonk coin is still showing losses on the monthly level. The ongoing bear market has affected its price trajectory in the past month.
But, the recent upsurge shows that the Bonk price could increase in the next trading sessions. For this to happen, the Bonk coin must surpass the major resistance at the 50-Day SMA ($0.00002059)
Failure to do so might lead to price declines. Luckily, analysts are expecting a bull run in the coming weeks.
This massive upsurge could push the Bonk coin to new levels. Coincodex gives a price target of $0.00005396 during the
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