Over the last week, the cryptocurrency market didn’t show unusually positive trends, with Bitcoin remaining under the $100,000 threshold. However, newcomers climbed to the leading positions within the meme coin sector, while some well-known names experienced a decline.
This week, BeInCrypto examined three meme coins that sparked different reactions among investors, based on their performance.
Akuma Inu (AKUMA)
AKUMA has garnered notice as a fresh meme token, surging a noteworthy 183% this week to hit $0.00132. This significant uptick underscores the altcoin’s escalating appeal and investor enthusiasm, even amidst broader market difficulties. Its recent trajectory suggests its promise in the turbulent world of cryptocurrencies.
The value of this altcoin has found a strong base at $0.00106, which could foster further growth. As the market seeks to rebound, AKUMA appears poised to sustain its positive trend.
If AKUMA fails to hold onto its current support level at $0.00106, there’s a possibility it could plummet to $0.00085. Such a drop might undo its recent advancements and contradict the optimistic forecast, underscoring the necessity of preserving this support to keep the positive trend going.
MAGA (TRUMP)
Over the last week, MAGA saw a significant surge of 70%, momentarily reaching $3.00 before dipping slightly to $2.78 at the present moment. This steep price hike suggests rising market excitement about the meme coin’s prospects, as political occurrences keep the asset in the spotlight and fuel speculation about its potential.
The rally seems fueled by the excitement surrounding Donald Trump’s inauguration as U.S. President on January 20th, a event that has sparked great curiosity among investors.
With the inauguration day drawing near, it’s anticipated that MAGA will keep up its positive trend, potentially hitting unprecedented peaks. If market excitement stays strong and external elements continue to boost optimism regarding this asset, the meme coin might soar as high as $4.44.
Fartcoin (FARTCOIN)
This week, FARTCOIN stood out as one of the poorest-performing cryptocurrencies, experiencing a 40% drop in value over the past seven days. The meme coin’s price dipped below the crucial support level of $1.00, indicating weak resistance in the face of broader market difficulties that have left investors seeking any hints of a rebound.
Shortly after FARTCOIN reached its peak price of $1.61, a correction occurred. The lack of overall market bullishness seems to have ignited this sudden drop, mirroring the usual volatile nature of meme coins.
Should FARTCOIN manage to establish $0.98 as a support point again, there’s a good chance it might regain momentum. This could potentially push the asset back above the $1.00 mark, and if market conditions improve and investor confidence is restored, it may even approach its all-time high of $1.61.
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2025-01-10 17:21