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Memecoin

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The post <a href="https://coinpedia.org/price-analysis/is-the-memecoin-rally-over-as-memeai-and-pepe-tokens-hint-a-30-plunge/" rel="noopener noreferrer nofollow">Is The Memecoin Rally Over As MEMEAI And PEPE Tokens Hint A 30% Plunge?</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a>
With a plunge of 7.82% within the past 24 hours, the cryptocurrency market has lost its $2 Trillion mark and is currently valued at $1.98 Trillion with a 24-hour trading volume of $116.88 Billion. Further, the price of <a href="https://coinpedia.org/price-prediction/bitcoin-price-prediction/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin</a> has recorded a low of $53,717.38, the lowest since February this year.
Following this, the memecoin category has displayed a strong bearish price action with top tokens recording a correction of over 15% each in their respective portfolios. With the rising bearish sentiment, will memecoins make a comeback this month?
<h2 class="wp-block-heading" id="h-pepe-pepe-price-analysis">Pepe (PEPE) Price Analysis:</h2>
The <a href="https://coinpedia.org/price-prediction/pepecoin-pepe-price-prediction/" target="_blank" rel="noopener noreferrer nofollow">Pepe price</a> has recorded a correction of 16.84% within the past 24 hours and 36.02% over the past seven days. Further, the memecoin has plunged 46.74% in valuation over the past 30 days, highlighting a rising bearish sentiment in the crypto space.
<figure class="wp-block-image"><img decoding="async" src="https://lh7-us.googleusercontent.com/docsz/AD_4nXfgL8zpIkb-jRA4U1HFT4PEQ5yc_BmelwYSZ0TXGd-LK-BXVpdpyFIq80eBU5oEk_SH5miZ5tAdFtyUrfqhGrCFXStq8G_7vh9yfipKAl6vNvgqYtp15oX2ZEJCfGCLhri3uXEbcFKKxFL53uk7W5EfQx0?key=-CwMJJcp-lHd2vEQZLLCFQ" alt="Pepe Price Analysis">
 <figcaption class="wp-element-caption">
 TradingView: PEPE/USDT
 </figcaption>
</figure>
The Moving Average Convergence Divergence (MACD) displays a constant rise in the red histogram, indicating an increase in the selling-over-buying pressure in the crypto space. Moreover, the averages show a negative trend, suggesting the <a href="https://markets.coinpedia.org/pepe/" target="_blank" rel="noopener noreferrer nofollow">PEPE price</a> will continue losing momentum.
Moreover, the RSI indicator has failed to surpass its mid-point in the 1D time frame. This has resulted in it recording a sharp plunge toward the oversold range.
If the bulls regain momentum, the Pepe memecoin will prepare to test its upper resistance level of $0.00001150. Conversely, if the bears continue to dominate the market, the Pepe token will plunge toward its low of $0.00000625 in the coming time.
<h2 class="wp-block-heading" id="h-meme-ai-memeai-price-analysis">Meme Ai (MEMEAI) Price Analysis:</h2>
Amid the ongoing market correction, the <a href="https://coinpedia.org/price-prediction/memeai-price-prediction/" target="_blank" rel="noopener noreferrer nofollow">Meme Ai price</a> has recorded a correction of 12.89% within the past day and 14.92% over the past seven days. Moreover, it has plunged 53.63% over the past 30 days, highlighting a negative outlook for this memecoin in the coming time.
<figure class="wp-block-image"><img decoding="async" src="https://lh7-us.googleusercontent.com/docsz/AD_4nXc_Kuka5F1AqjPdMl-Il9R0xNugVyuKn8RQ656VfYTCGb6TkJPYdaO8LOgRTKga1X1jzsYBl76an3GwDZziho7rlysKz7psD604d6Daovcsu-tO1xWfkHdxMNLvXcKTB57zynfOlR7R7XmzZT6lmRKvzFPW?key=-CwMJJcp-lHd2vEQZLLCFQ" alt="Meme Ai Price Analysis">
 <figcaption class="wp-element-caption">
 TradingView: MEMEAI/USDT
 </figcaption>
</figure>
The Relative Strength Index (RSI) has recorded a sharp decline in its chart, suggesting an increase in the bearish sentiment for the memecoin in the cryptocurrency market. Further, the average trendline shows a negative crossover, suggesting the MEME price will continue losing momentum.
On the other hand, the MACD displays a constant flatline in its price chart, suggesting a weak price action. Moreover, the average records a neutral trend, highlighting uncertainty in the future price action of this memecoin.
If the market regains momentum, the <a href="https://markets.coinpedia.org/meme-ai-token/" target="_blank" rel="noopener noreferrer nofollow">MEME AI price</a> will head toward its upper resistance level of $0.0048 during the upcoming weeks. However, if the bears overpowered the bulls, the memecoin would drop toward its crucial support level of $0.000586.

Is The Memecoin Rally Over As MEMEAI And PEPE Tokens Hint A 30% Plunge?

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