Meme coins are on the rage as a fun new form of digital currency. Based on popular internet memes, these coins are perfect for trading and sharing across different platforms. Lately, meme crypto coins have been hitting big, and more people are jumping on board. Check out the top 3 meme crypto coins to invest in this month.
XRP
XRP, the cryptocurrency associated with the XRP Ledger, appears to be bouncing back following a long period of uncertainty caused by the legal battle with the U.S. Securities and Exchange Commission (SEC).
Even with the challenges from regulators, XRP is showing progress compared to other digital currencies and cryptocurrencies. This piece explores the current price situation, recent developments, potential future outcomes, and the latest news circulating around XRP.
Price Today
As of April 08, 2024, XRP is currently priced at $0.6007, and it has seen a trading volume of $1,149,278,380.34 in the last 24 hours. Over this period, its price has increased by 1.18%, but it has experienced a decline of -1.97% in the past 7 days. With a circulating supply of 55 Billion XRP, the market cap of XRP stands at $33,136,772,806.
Technicals
The price is consolidating strongly within the symmetrical triangle pattern. A breakout from the triangle would confirm the start of a strong bullish rally for $XRP.
The XRP/USDT chart is currently showing a symmetrical triangle pattern, indicating a period of consolidation. As the pattern approaches its end, a breakout is anticipated. To go long, wait for a confirmed breakout above the upper trendline and place a stop-loss just below it. To go short, wait for a breakdown below the lower trendline and place a stop-loss just above it. Targets for both scenarios can be determined by projecting the triangle’s height from the breakout or breakdown point. Remember to wait for confirmation with higher volume before making any trades.
Price Prediction
Based on the price fluctuations of XRP at the start of 2024, the average XRP rate in April 2024 will be around $0.694. The minimum price is expected to be approximately $0.593, while the maximum price could reach up to $0.795. This indicates a potential return on investment of 33%.
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FLOKI
FLOKI, recognized as “The People’s Crypto,” is a decentralized cryptocurrency rooted in internet meme culture. Its inception traces back to the charming Shiba Inu dog breed, notably inspired by Elon Musk’s Shiba Inu, who lent their name to this innovative project.
Price Today
As of April 08, 2024, FLOKI is currently priced at $0.0002116, and it has seen a trading volume of $201,634,834.75 in the last 24 hours. Over this period, its price has increased by 4.38%, but it has experienced a decline of -9.55% in the past 7 days. With a circulating supply of 9.7 Trillion FLOKI, the market cap of FLOKI stands at $2,063,505,788.
Technicals
The price is rebounding from the support trendline of the Wedge. A breakout would confirm bullish momentum for FLOKI.
The FLOKI/USDT chart shows a descending broadening wedge pattern, which could suggest a potential bullish turnaround. It’s a good idea for traders to watch for a breakout above the top trendline of the pattern before thinking about going long.
If there’s a successful breakout, especially accompanied by a spike in trading volume, it could be a promising entry point. To minimize risk, consider setting a stop-loss just below the most recent low. You can estimate the price target by adding the widest part of the wedge to the breakout level. Keep in mind that the market can be unpredictable, so it’s wise to wait for a confirmed breakout.
Price prediction
Based on the price fluctuations of FLOKI at the start of 2024, the average FLOKI rate in April 2024 will be around $0.000201. The minimum price is expected to be approximately $0.000184, while the maximum price could reach up to $0.000207. This indicates a potential return on investment of 1.5%.
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BOOK OF MEME(BOME)
The Solana network got a major boost with the arrival of the BOOK OF MEME (BOME). It made quite a splash by getting listed on Binance just 48 hours after its launch and even managed to hit a billion-dollar market cap in that short span of time.
Price Today
As of April 08, 2024, BOME is currently priced at $0.01457, and it has seen a trading volume of $323,341,388.54 in the last 24 hours. Over this period, its price has increased by 0.71%, but it has experienced a decline of -3.64% in the past 7 days. With a circulating supply of 55 Billion BOME, the market cap of FLOKI stands at $803,327,183.
Technicals
The price is currently consolidating within the symmetrical triangle pattern. A bounce from the support trendline of the triangle can be anticipated. It’s important to pay attention to this development.
The BOME/USDT chart is showing a symmetrical triangle, indicating consolidation and a possible breakout. Keep an eye out for the price to break through either the upper or lower boundaries of the triangle to consider entering a long or short position. It’s important to wait for a confirmed breakout, preferably with a candle closing outside the triangle and supported by increased trading volume.
Place a stop-loss near the entry point within the triangle to manage risk. The target price is usually the distance of the triangle’s base applied from the breakout level. Be patient and wait for strong signals before taking any action.
Price Prediction
Based on the price fluctuations of BOME at the start of 2024, the average FLOKI rate in April 2024 will be around $0.0144. The minimum price is expected to be approximately $0.0131, while the maximum price could reach $0.0148. This indicates a potential return on investment of 4.2%.