Meme coins faced a tough day today, yet small-cap token Kendu Inu stood out with strong weekly gains, capturing investor attention. Despite the broader market’s decline, these conditions still offer opportunities for users.
BeInCrypto highlights two meme coins for investors to watch as they show promising buy potential amid the downturn.
Bonk (BONK)
Launch Date – December 2022
Total Circulating Supply – 77.41 Trillion BONK
Maximum Supply – 88.81 Trillion BONK
Fully Diluted Valuation (FDV) – $1.67 Billion
Contract Address – DezXAZ8z7PnrnRJjz3wXBoRgixCa6xjnB7YaB1pPB263
BONK price is down by 19% this week, currently trading at $0.00001893. Despite this decline, the 50-day EMA is approaching a crossover with the 200-day EMA, which could indicate a reversal in momentum. This technical pattern typically signals the potential for a rebound, provided the market conditions shift positively.
The 50-day and 200-day EMA crossover, known as the Golden Cross, could trigger an uptrend for BONK. With the broader market showing bullish tendencies, this crossover could push BONK towards $0.00002285 or even higher. The combination of technical indicators and market sentiment strengthens the outlook for recovery.
BONK Price Analysis. Source: TradingView
However, if uncertain investors opt to sell early, it could put downward pressure on BONK’s price. A drop below the support of $0.00001779 would indicate bearish momentum, potentially sending the price down to $0.00001548. This would invalidate the optimistic scenario and undermine the potential for a rally.
Popcat (POPCAT)
Launch Date – December 2023
Total Circulating Supply – 979.97 Million POPCAT
Maximum Supply – 979.97 Million POPCAT
Fully Diluted Valuation (FDV) – $417.78 Million
Contract Address – 7GCihgDB8fe6KNjn2MYtkzZcRjQy3t9GHdC8uHYmW2hr
POPCAT experienced a 25% drop this week, bringing its price down to $0.429. Despite this decline, it doesn’t signal the start of a longer-term bearish trend. Rather, the current price level may present a strong entry point for potential investors looking to capitalize on a rebound.
Signs of continued growth are visible, with the Ichimoku Cloud positioned below the candlesticks, signaling bullish momentum. This technical pattern suggests that POPCAT could reclaim $0.495 as support, setting the stage for further price increases. The market conditions appear favorable for the coin’s continued upward trajectory.
POPCAT Price Analysis. Source: TradingView
However, if POPCAT fails to maintain its support at $0.416, the price may drop to $0.342. A break below this level would invalidate the bullish outlook, potentially leading to more significant losses. This downside risk highlights the importance of monitoring key support levels.
Small Cap Corner – Kendu Inu (KENDU)
Launch Date – June 2024
Total Circulating Supply – 991.89 Billion KENDU
Maximum Supply – 1 Trillion KENDU
Fully Diluted Valuation (FDV) – $33.37 Million
Contract Address – 0xaa95f26e30001251fb905d264aa7b00ee9df6c18
KENDU has emerged as one of the best-performing meme coins this week, gaining 99%, although the rise slowed in the last 24 hours. Holderscan data shows that over 68% of KENDU holders possess more than $10 worth of tokens, signaling strong holder confidence in the token’s future potential.
If KENDU manages to secure $0.00003063 as support, it could leverage broader market cues to push through $0.00004246, potentially reaching $0.00005042.
KENDU Price Analysis. Source: TradingView
However, if selling pressure mounts and overwhelms the bullish sentiment, a drop below $0.00003063 could result in a fall to $0.00001919. Such a move would invalidate the bullish outlook and signal further downside potential for KENDU.
Disclaimer
In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
