The meme coin market has seen a surge in investor interest, aiding some tokens in recovering from their all-time lows (ATLs). One of these tokens is Memecoin (MEME), which has managed to avoid hitting a new ATL and has recorded a significant 73% increase.
BeInCrypto has examined two other meme coins that have shown strong performance recently, making them noteworthy tokens to monitor.
Memecoin (MEME)
Launch Date – November 2023
Total Circulating Supply – 43.11 Billion MEME
Maximum Supply – 69 Billion MEME
Fully Diluted Valuation (FDV) – $135.37 Million
MEME faced a challenging week, hitting a new all-time low at $0.00137. Nevertheless, the altcoin has rebounded sharply with a 38% increase in the past 24 hours, reaching $0.00196. This surge reflects a substantial recovery, driven by revived interest in meme coins.
The recent price surge in MEME was triggered by a sudden spike in interest for jest tokens, leading to a 73% intraday high. To sustain its gains, MEME needs to successfully breach and maintain the $0.00228 resistance as support, a crucial level for sustaining its upward trend.
If investors start taking profits from MEME, there's a risk of a reversal in course back to the ATL of $0.00137. A drop below this level would undermine the positive outlook and indicate further challenges for the meme coin.
Bone ShibaSwap (BONE)
Launch Date – July 2021
Total Circulating Supply – 249.89 Million BONE
Maximum Supply – 250 Million BONE
Fully Diluted Valuation (FDV) – $71.67 Million
BONE has seen a notable 18.5% increase in the past 24 hours, trading at $0.285. The altcoin is currently approaching the key resistance level of $0.295. With the recent momentum, it appears likely to surpass this level, hinting at a potential upward trend for the token in the coming days.
Turning the $0.295 resistance into support could pave the way for BONE to target the next major resistance at $0.348. Breaking through this level could further boost bullish sentiment, propelling the token towards higher price points.
Yet, failing to breach the $0.295 barrier might diminish the bullish momentum. A decline from this point could push the meme coin back to $0.232, nullifying the optimistic outlook and potentially making investors more cautious.
Small Cap Corner – Comedian (BAN)
Launch Date – April 2024
Total Circulating Supply – 999.96 Million BAN
Maximum Supply – 1 Billion BAN
Fully Diluted Valuation (FDV) – $40.54 Million
BAN, a small-cap token, has attracted investor attention by surging nearly 25% in the past 24 hours, trading at $0.040. This rise underscores the increasing interest in the meme coin market, with BAN gaining prominence despite its smaller market cap.
Initially inspired by the viral banana taped to a wall, BAN gained significant recognition after being acquired by Tron’s founder, Justin Sun, for $6.2 million last year. If the token continues its upward trajectory, it could surpass the $0.045 hurdle and potentially convert it into support to solidify its gains.
Nevertheless, a failure to break the $0.045 resistance could lead to a drop to $0.032. In such a scenario, the bullish outlook would be invalidated, wiping out recent gains and prompting caution among investors regarding potential further price drops.