In the world of meme coins, two standout performers have captured the attention of investors – PEPE and FLOKI. PEPE’s price has taken the lead, soaring to new heights, while FLOKI is following closely, displaying strong bullish momentum.

According to Coinpedia’s analysis, PEPE’s price has skyrocketed to a new all-time high of $0.0000111, with its market cap now exceeding an impressive $4 billion. This remarkable =can be attributed to several factors evident in the PEPE chart.

The recent breakout from a falling channel pattern signifies a strong bullish trend, suggesting the potential for further upward movements. Additionally, the formation of an inverted head and shoulders pattern is a bullish reversal indicator, hinting at a substantial rally ahead.

The MACD remains in a bullish phase, supporting the ongoing trend as the demand for PEPE grows. Furthermore, the Relative Strength Index (RSI) is nearing overbought conditions, reflecting a strong surge in buying pressure that could push PEPE’s price even higher.

Increased trading volume is backing the current price rise, reinforcing the bullish outlook for PEPE. Breaking the $0.000010 mark has significant psychological implications, potentially fueling further investor interest and price increases.

The Fibonacci extension suggests a target near the $0.000019 level, aligning with an 85% potential upside from current levels. While a retest of the $0.000010 support level is possible, maintaining above this level is crucial for the continuation of the bull run.

Read also: Meme Coin Prices Breakout: Top Trending Memes Including PEPE and MAGA to Watch

Following PEPE’s Lead Coinpedia also weighed in on FLOKI’s recent performance, highlighting its bullish momentum as it follows in PEPE’s footsteps. FLOKI recently surged by 17% in 24 hours, signaling strong bullish sentiment within the meme coin market.

According to the FLOKI chart, the price action indicates a successful breakout from a falling wedge pattern, a classic bullish signal that could propel prices higher. The price movement is navigating between key Fibonacci levels, with a break above the 38.20% Fibonacci retracement level potentially catalyzing further bullish sentiments.

The MACD for FLOKI is hovering near the zero line but is primed for a bullish continuation, which could sustain the upward trajectory. The RSI is climbing from the mid-point, indicating increasing buyer interest and potential for further price appreciation.

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The $0.00020 mark stands as a crucial psychological resistance level for FLOKI. Overcoming this could open the gates for a surge to $0.00030. However, should FLOKI fail to break the $0.00020 level, it risks falling back to the support level at $0.0001682, a crucial pivot point for the coin’s short-term direction.

As the meme coin craze continues to captivate investors, PEPE and FLOKI have emerged as top contenders, showcasing impressive price movements and bullish indicators. With PEPE leading the pack and FLOKI following suit, these two meme coins have positioned themselves as ones to watch in the upcoming weeks.

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The post PEPE Price Soars to New Heights, FLOKI Catches Up – Meme Coin Dominance on Display appeared first on CaptainAltcoin.

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