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Pepe Coin Lost, Here Are 3 Ethereum Meme Coins to Buy in June
The cryptocurrency market witnessed a renewed recovery following Bitcoin’s reversal from $56,000 in May. While most major altcoins have experienced a notable uptrend, the Memecoin sector has rebounded with greater momentum as it attracts speculative traders who are adept at navigating rapid market changes and capitalizing on quick profit opportunities. Furthermore, with the recent approval of the ETH spot ETF by the US SEC, Ethereum Meme coins were among the biggest gainers in the recent recovery. If you missed Pepe coin’s rally to its new all-time high, the top Meme coins to buy are Shiba Inu (SHIB), Memecoin (MEME), and Floki to capture similar trends.
Read too: Crypto Market Forecast: MVRV Ratio Tips Bitcoin Bull Run Has Room to Grow
1) Shiba Inu (SHIB)
Shiba Inu (SHIB) is a meme-based cryptocurrency that started as a playful homage to Dogecoin. Key fundamental factors for SHIB include its significant social media presence, strategic token burning to reduce supply, and continued development of its ecosystem.
Shiba Inu (SHIB) | Trading view
On the daily chart, the SHIB Price is steadily recovering under the influence of the ascending trend line. Dynamic support lifted the asset from its April 13 low of $0.0000183 to $0.000026, recording 45% growth.
At press time, the Shiba Inu price had a market cap of $14.7 billion, while the 24-hour trading volume fell to $250 million.
If the previously mentioned support is intact, buyers could break through the high swing resistance at $0.00003. This breakout could offer better confirmation of the shift in market sentiment from bullish selling to bearish buying.
The post-breakout recovery could push the asset to $0.000038, followed by $0.000054.
Read too: Shiba Inu’s Shibarium achieves great feat, reduces Ethereum bridge time
2) Floki
Floki is a meme-inspired cryptocurrency that has evolved significantly from its origins as a playful homage to Elon Musk’s Shiba Inu dog. The core of the Floki ecosystem includes Valhalla, an NFT gaming metaverse that allows players to earn rewards through engaging activities such as battles and asset trading.
Floki| Trading view
Amid the current market consolidation, the Floki Price witnessed weakened bullish momentum resulting in a reversal at $0.000313. This bearish turnaround saw the meme coin plummet 16% to trade at $0.0000259 while the market cap plummeted to $2.44 billion.
If supply pressures, the coin’s price could fall another 20% to seek support at the ascending trendline. This dynamic support has been following an upward trajectory for almost three months and could recover FLOKI’s depleted bullish momentum.
A potential rebound from this floor could push the asset past the $0.0000313 ceiling.
Read too: Coinbase Adds Shiba Inu, FLOKI, BONK in Full Trading Mode, Prices to Rebound?
3) MAGA (Trump)
MAGA Coin, also known as TRUMP, is a meme cryptocurrency inspired by the “Make America Great Again” slogan associated with former US President Donald Trump. The coin aims to merge political finance (PoliFi) with traditional cryptocurrency principles, targeting Trump supporters and conservative causes.
MAGA (Trump) | Trading view
Trump coin entered an aggressive recovery from the second week of May when the price rebounded from the $4.12 support. The reversal boosted the asset by 256% to currently trade at $14.7, while the market cap boasted $637.4 million.
Amid this rally, buyers recently decisively broke through the angular resistance trendline and the $10.5 horizontal barrier. Sustaining this breakout should provide buyers with adequate support to lead a rally higher and reach potential at $22, followed by $25.
Read too: Discussions in Donald Trump’s prison disturb markets; Bitcoin price fell 3%
Main advantage
The current market rally is particularly robust in the Meme coin sector, attracting speculative traders eager for quick profits. Shiba Inu (SHIB), Floki, and MAGA (TRUMP) are notable Ethereum-based Meme coins that demonstrate significant potential to drive an extended recovery through 2024. These coins stand out due to strong community support, innovative projects, and recent impressive market performances .
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