Mitrade Insights is dedicated to providing investors with rich, timely and most valuable financial information to help investors grasp the market situation and find timely trading opportunities.

2021

Best News & Analysis Provider

FxDailyInfo

2022

Best Forex Educational Resources Global

International Business Magazine

Insights

News

Cryptocurrencies

Top trending meme coins BOME, TRUMP, WIF: Bullish signs persist

Source Fxstreet

Trump price bounced 57% from its previous support level of $15.95.
Dogwifhat price is likely to pull back into the major support level between $3.22 and $3.04.
Book Of Meme price could break out from a parallel channel pattern.

Prices of top trending meme coins Trump (MAGA), Dogwifhat (WIF) and Book Of Meme (BOME) increase on Friday, defying the mild losses seen among the main cryptocurrency assets. The technical outlook for the three coins hints at further gains ahead, particularly for MAGA and BOME, while a short-term correction in WIF is the most likely scenario before it can resume gains.

Trump meme coin shows recovery

Trump (MAGA) meme coin crashed 35% on Thursday as former US President Donald Trump was found guilty on 34 felony counts related to falsifying business records and the case involving adult entertainer Stormy Daniels.

However, MAGA quickly bounced 57% to trade at $14.91 at the time of writing, from its previous support at $9.78.

If the overall crypto market sentiment and news about Donald Trump is positive, then MAGA could rally 30% to $19.92, the 127.2% Fibonacci extension level from swing high at $16.60 to swing low at $7.04.

MAGA/USDT 4-hour chart

On the other hand, if Trump's price closes below $9.90, it would invalidate the bullish thesis by producing a lower low in the daily time frame, leading MAGA to crash an extra 30% and hitting the previous support level of $7.04.

Dogwifhat price eyes 13% gains

Dogwifhat's price, a Solana-based meme coin, crashed 20% from its Wednesday high of $4.08 due to recent fraud events involving IGGY and other celebrity-based meme currencies. Due to recent fraudulent incidents like IGGY, Solana-based meme coins are plummeting, with WIF 20% from its high at the $4.08 mark. Still, WIF pared some of the recent losses on Friday, increasing by around 3% on the day to $3.46 at the time of writing.

WIF could find support between the $3.22 and $3.04 levels, which also coincide with the 61.8% Fibonacci retracement line. From there, it could rally 13% to $3.66 level which is the previous bearish order block on May 30.

WIF/USDT 4-hour chart

On the other hand, if Dogwifhat's daily candlestick price closes below the $3 level, it would produce a lower low and signal a break in the market structure. This move would invalidate the aforementioned bullish thesis, potentially triggering an extra 7% crash to the high volume node of the volume profile at $2.81.

Book of meme price wants to move higher

BOME price is currently getting rejected by the resistance at the upper channel at $0.0159.

If BOME breaks out of the channel, then it could rally 22% to the $0.0207 level, which is the daily close of March 17 and also the technical target (distance between the parallel channel.)

BOME/USDT 4-hour chart

However, if the Book Of Meme price breaks below the parallel channel range, it will crash 38% to test its daily support level at $0.008.

Disclaimer: For information purposes only. Past performance is not indicative of future results.

Recommended Articles

Crude Oil Price Forecast: Brent Nears $110 Amid Saudi Pipeline Outage, How Much Further Can Oil Rise?Supply risks in the Middle East continue to heat up, with international oil prices fluctuating at high levels.During Tuesday's Asian trading session, Brent crude futures (UKOIL-F) rose to

Author TradingKey

9 hours ago

Supply risks in the Middle East continue to heat up, with international oil prices fluctuating at high levels.During Tuesday's Asian trading session, Brent crude futures (UKOIL-F) rose to

【Daily Brief】10-year Treasury yield briefly tops 5%, S&P 500 slips to 7,602 and the dollar firms at 99.3 as the Fed's decision eve begins The 10-year Treasury yield touched 5.014% on Monday — its first print above 5% since October 2023 — while the S&P 500 closed 0.48% lower at 7,619.98 and the dollar index firmed to 99.3. Here is the full market wrap ahead of Wednesday's FOMC decision, the dot plot and the August retail sales report, plus today's CLARITY Act Senate vote.

Author Irene Q.

9 hours ago

The 10-year Treasury yield touched 5.014% on Monday — its first print above 5% since October 2023 — while the S&P 500 closed 0.48% lower at 7,619.98 and the dollar index firmed to 99.3. Here is the full market wrap ahead of Wednesday's FOMC decision, the dot plot and the August retail sales report, plus today's CLARITY Act Senate vote.

Gold falls below $4,300 as higher US yields bolster Fed rate hike bets Gold price (XAU/USD) tumbles to near $4,295 during the early Asian session on Tuesday. The precious metal faces some selling pressure as rising bond yields and surging energy prices strengthen expectations that the US Federal Reserve (Fed) will raise interest rates this week.

Author FXStreet

16 hours ago

Gold price (XAU/USD) tumbles to near $4,295 during the early Asian session on Tuesday. The precious metal faces some selling pressure as rising bond yields and surging energy prices strengthen expectations that the US Federal Reserve (Fed) will raise interest rates this week.

Silver Price Forecast: XAG/USD falls to near $63.50 amid Fed hike bets, higher oil prices Silver price (XAG/USD) loses its gains from the previous day, trading around $63.50 per troy ounce during Asian hours on Monday. Non-yielding Silver is currently facing significant headwinds driven by rising Federal Reserve (Fed) rate-hike expectations for the upcoming September decision.

Author FXStreet

Yesterday 10: 37

Silver price (XAG/USD) loses its gains from the previous day, trading around $63.50 per troy ounce during Asian hours on Monday. Non-yielding Silver is currently facing significant headwinds driven by rising Federal Reserve (Fed) rate-hike expectations for the upcoming September decision.

Fed hike odds near 90% into Wednesday's decision — how to trade the dollar, gold and the S&P 500 A 0.3% monthly core CPI print has lifted the market-implied probability of a 25bp Fed hike on 16 September to roughly 86.5% ~ 90%, which would be the first increase since July 2023. Here is the decision timeline, the pricing versus the forecasts, both scenarios, and the key levels for the dollar, gold and the S&P 500.

Author Suzie

Yesterday 07: 49

A 0.3% monthly core CPI print has lifted the market-implied probability of a 25bp Fed hike on 16 September to roughly 86.5% ~ 90%, which would be the first increase since July 2023. Here is the decision timeline, the pricing versus the forecasts, both scenarios, and the key levels for the dollar, gold and the S&P 500.

Popular Symbols