Most meme coins had a rough ride in February, witnessing significant drawdowns and hitting new all-time lows. But, amidst this downturn, there may be a glimmer of hope as some of these meme tokens show signs of recovery.
BeInCrypto has examined five meme coins that could potentially bounce back and recoup their losses in the upcoming month of March.
Daddy Tate (DADDY)
DADDY has surprised the market by surging 70% this week, reclaiming its losses from February and more. Currently priced at $0.054, this rally indicates a shift in investor sentiment, hinting at potential further upside if the momentum continues.
Eyeing a breakthrough of the $0.068 resistance, DADDY's future trajectory will depend on sustained confidence from investors.
Pepe (PEPE)
PEPE has been on a downward trend since November 2024, currently trading at $0.00000718. However, with a strong correlation of 0.89 with Bitcoin, a potential recovery could be on the horizon if Bitcoin shows signs of improvement.
If PEPE manages to flip $0.00000951 into support and surpass the $0.00001146 resistance level, it could indicate a bullish reversal.
Popcat (POPCAT)
POPCLAT has made a notable recovery, down only 9.5% for the month and trading at $0.265. Aiming to breach the resistance at $0.342, a successful breakout could lead to substantial gains, especially with improving market sentiment.
Maintaining the $0.238 support level is crucial for POPCAT's potential rally towards $0.645, showing a possibility of a 129% rise if the current pattern holds.
Peanut The Squirrel (PNUT)
PNUT has exceeded expectations with a 56% surge, reaching $0.226 and erasing losses from February. The next target for PNUT is to establish $0.227 as solid support for further upward momentum.
Securing $0.227 as a support level could propel PNUT towards $0.442, leading to a significant recovery and potential gains if market conditions remain favorable.
Pudgy Penguins (PENGU)
Despite hitting a new all-time low of $0.0067 in February, PENGU has shown resilience and a glimmer of hope for a rebound. Currently trading at $0.0090 after a 24.6% bounce, PENGU aims to breach the $0.0100 level for a potential rally to $0.0147, signaling a positive outlook.
Breaking the $0.0100 barrier is crucial for PENGU to recover and avoid consolidating above its all-time low, potentially leading to further losses.
(Source: TradingView)