Meme Coins Followed Bitcoin's Footsteps as Crypto King Hit $105,000 Today

Leading the joke tokens was Pippin, a rather small cap coin but registering over 94% rise in the span of 24 hours.

Bitcoin (BTC) hit $105,000 today, continuing his impressive run. With the crypto king hitting new highs, several meme coins followed suit.

Leading the charge was Pippin (PIPPIN), a rather small-cap coin but one that saw over 94% rise in the span of 24 hours.

BeInCrypto has analysed two other meme coins for investors to watch today and the direction in which they are heading.

Moo Deng (MOODENG)

MOODENG price surged by 95% over the last 24 hours, making it one of the best-performing meme coins. Currently trading at $0.26, the altcoin is experiencing significant bullish momentum as investors capitalize on its rapid gains.

This momentum could propel MOODENG price to new highs. If the bullish trend continues, MOODENG could surpass the $0.35 mark and push towards $0.50 in the near future.

The altcoin’s strong performance and increasing demand suggest that it could maintain its upward trajectory if market sentiment remains positive and trading volumes remain high.

However, with MOODENG reaching a 4-month high, the meme coin faces the risk of profit-taking. As sellers capitalize on the recent gains, it could lead to a reversal in price.

If selling pressure intensifies, MOODENG price may fall below the $0.24 level and test the next major support at $0.18. A drop to this level would largely depend on the strength of selling pressure and the rate at which it decreases.

If the downward momentum persists, the price could eventually fall to $0.12, invalidating the current bullish outlook and signaling a shift in favor of the bears.

dogwifhat (WIF)

WIF price has risen by 25% over the last 24 hours, trading at $1.18. The altcoin’s price movement is largely influenced by broader market cues.

As the cryptocurrency market fluctuates, WIF performance depends on how well Bitcoin and top meme coins perform in the coming days.

If WIF follows the lead of Bitcoin and other meme coins, it could breach the resistance at $1.24 and climb toward $1.52. A rise to this level would attract new investors, significantly increasing market interest.

This interest would be crucial in sustaining the upward momentum and potentially pushing WIF price further as investors capitalize on the meme coin’s gains.

However, unforeseen selling from WIF holders could reverse the current trend. If selling pressure mounts, the price may fall below the $1.04 level and potentially reach $0.85.

This would invalidate the bullish outlook and put a halt to the altcoin’s recent gains, leading to further uncertainty in the direction of WIF price.

Small Cap Corner – Pippin (PIPPIN)

PIPPIN surged by 93% in the last 24 hours, establishing itself as a leading meme coin. With a market cap of $50 million, it is attracting interest from both smart money and retail investors.

However, this interest is currently skewed by selling pressure, which could hamper further gains in the near term.

According to Nansen data, there was $1.9 million in total net flow to exchanges over the past day. Moreover, PIPPIN’s low 3.13% bundle buy, which indicates the broad distribution of tokens, suggests a healthy ecosystem.

These positive indicators could help PIPPIN to breach the resistance at $0.052 and push toward the next resistance at $0.064.

However, excessive selling could derail PIPPIN’s upward momentum. If profit-taking intensifies, the meme coin could experience a decline from $0.049 to $0.035, testing the next major support level.

A drop to this level would invalidate the bullish outlook and signal a potential reversal in price, setting the stage for further downward movement.