The meme coin market had a strong start to the month but experienced a sharp decline, currently valued at $67.4 billion. Some altcoins have emerged as leaders, showing potential for additional gains.
BeInCrypto has examined three meme coins that investors should keep an eye on as Q3 commences.
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Pump.fun (PUMP)
PUMP has become one of the top-performing cryptocurrencies this month, with a remarkable 66.8% increase since the beginning of the month. As of now, the altcoin trades at $0.0056, maintaining steady momentum that captures investor interest.
Though not a conventional meme coin, PUMP is closely associated with the genre through Pump.fun, a prominent meme coin launchpad. With thousands of meme coins being introduced there, PUMP is significantly influenced by these tokens, propelling its recent rise amid market fluctuations.
The token achieved a new all-time high (ATH) of $0.0090 during its latest rally. For PUMP to revisit this level, it needs to surpass $0.0077. The Chaikin Money Flow (CMF) indicator is trending above zero, suggesting increasing inflows that could bolster the bullish outlook for PUMP.
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However, if bearish sentiment in the broader crypto market escalates, PUMP might encounter downward pressure. The meme coin could drop to $0.0047, and in a more severe correction, potentially fall to $0.0041. This would invalidate the bullish thesis.
Memecore (M)
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M has rapidly established itself as one of the most promising meme coins, skyrocketing 243% in just a month. Currently trading at $2.33, the altcoin shows strong momentum despite recent fluctuations in the cryptocurrency space.
The challenge for M is maintaining this rally, as it is currently 28% below its all-time high of $2.99. A successful flip of $2.61 into support could ignite renewed demand, supported by positive market signals, pushing Memecore closer to reclaiming its record price levels.
If M fails to keep its bullish momentum, the price could dip below the $2.17 support level. Such a drop could push the altcoin further down to $1.87, and in a prolonged bearish scenario, to $1.33, which would invalidate the bullish outlook and induce significant caution among investors.
HarryPotterObamaSonic10Inu (BITCOIN / HPOS10)
Another meme coin to watch is HarryPotterObamaSonic10Inu, which has emerged as an unexpected wild card, experiencing a notable surge toward the month’s end. The meme coin has gained 44% since the start of the month, garnering investor interest.
Currently trading at $0.114, it is just below the $0.116 resistance. Exponential Moving Averages are nearing a Golden Cross formation, a significant bullish indicator. If momentum continues, HarryPotterObamaSonic10Inu could rise to $0.128 and potentially higher, yielding further profits for holders wagering on its ascent.
However, if momentum wanes, HarryPotterObamaSonic10Inu could struggle to maintain its rally. In such a scenario, the price might retreat to $0.099, with further declines to $0.090 possible. This downturn would invalidate the bullish thesis.
