Meme coins are still showing bullish behavior even as the market cools down after a recent surge. Leading the group of joke tokens is ConstitutionDAO, which recorded a 56% increase.
BeInCrypto has reviewed two more meme coins for investors to keep an eye on and their future trajectory.
ConstitutionDAO (PEOPLE)
Launched in November 2021
Total Circulating Supply - 5.06 Billion PEOPLE
Maximum Supply - 5.06 Billion PEOPLE
Fully Diluted Valuation (FDV) - $172.53 Million
Contract Address - 0x7a58c0be72be218b41c608b7fe7c5bb630736c71
The price of PEOPLE surged by 56% today, positioning it as one of the top-performing tokens. With a current trading value of $0.035, PEOPLE aims to maintain $0.031 as an essential support level. The increase underscores heightened investor interest, signaling a potentially positive trajectory if the support level remains robust in the upcoming days.
Securing $0.031 as a support level is crucial for the meme coin to sustain its bullish momentum. If it can uphold this level successfully, there is a chance for further growth. The next target price would be $0.041, likely inviting more buying interest and consolidating its market position.
In the case of PEOPLE failing to maintain support at $0.031, the coin might face a decline, with heightened selling pressure potentially driving the price down to $0.023. Such a drop could nullify the current positive outlook, impacting investor confidence and potentially leading to more losses.
Book of Meme (BOME)
Launched in March 2024
Total Circulating Supply - 68.99 Billion BOME
Maximum Supply - 68.99 Billion BOME
Fully Diluted Valuation (FDV) - $198.89 Million
Contract Address - ukHH6c7mMyiWCf1b9pnWe25TSpkDDt3H5pQZgZ74J82
BOME gained traction this week with a notable 25% increase in the last 24 hours. Currently priced at $0.0028, the meme coin is encountering a key resistance at $0.0033. While there is potential for further upward movement based on price action, overcoming this resistance could be a hindrance to sustained gains.
Despite the recent surge, BOME's bullish momentum appears to be waning. The token seems to be consolidating within the $0.0033 and $0.0023 range, limiting short-term price movements. A lack of buying pressure might stall its rally, keeping it within this range for the time being.
If market conditions remain favorable, BOME could break the $0.0033 resistance, sparking a new rally aiming for $0.0040. This move would invalidate the bearish outlook, attracting more investors and solidifying its market position.
Small Cap Corner – Dogelon Mars (ELON)
Launched in April 2021
Total Circulating Supply - 549.64 Trillion ELON
Maximum Supply - 1 Quadrillion ELON
Fully Diluted Valuation (FDV) - $174.53 Million
Contract Address - 0x761d38e5ddf6ccf6cf7c55759d5210750b5d60f3
ELON is currently priced at $0.0000001757, slightly below the resistance level of $0.0000001781. The meme coin is following broader market trends and witnessing positive signs with a growing number of holders. It currently has 162,419 holders, indicating rising investor interest.
Having shown strong performance previously, ELON is recognized as a reliable token. To reach its target of $0.0000002075, the coin must transform the $0.0000001781 resistance into a support level. Achieving this would open up further upward movement opportunities and draw more investors to the token.
If ELON fails to establish support at $0.0000001781, it may undergo a reversal in trend. A drop below $0.0000001627 could lead to further declines, possibly reaching $0.0000001402. This scenario would negate the current bullish sentiment and shift market sentiment away from the meme coin.