Meme coins have a complex moon, with some looking at massive profits, while others fell to an all-time low. But its impressive profits and stability kept the useless coin stand out.
Beincrypto has identified two other meme coins worth watching in July as it shows strong signs of potential growth.
Not useful (not useful)
What’s useless is that it led the memecoin market in June, rising 1,635%, setting new highs almost daily. Altcoin reached its latest ATH today for $0.209. This growth has shown impressive momentum, with investors looking closely for a further upward move.
Despite the massive rise, uselessness shows no signs of fatigue or sales pressure. Parabolic SAR indicators under candlesticks suggest that the uptrend is likely to continue. With Solana-based Meme Coin gaining popularity, it could push towards $0.450 within the next month, further increasing investor interest.
However, like all meme coins, unexpected sales from holders can reverse the trend. If an investor decides to cash out, what is useless could drop to a support level of $0.066. Such drops negate bullish outlook and erase any profits made.
A stocky penguin (penguin)
Pengu got off to a rocky start until June, but has gained significant traction over the past week. Meme Coin rose 62.6% to $0.0137, marking two months’ height. This recent surge shows Altcoin’s ability to rebound despite previous struggles, attracting attention from investors.
The main advantage of Pengu is the strong correlation with Bitcoin at 0.70. Penn is expected to benefit from this trend as Bitcoin continues its upward momentum and forms a new all-time high. Due to the strength of Bitcoin, Pengu could break the resistance level of $0.0151, reaching $0.0180 in the coming days.
However, Pengu prices are affected by large holders, with over 47.72% of holders owning Pengu over $10. These investors could have a significant impact on the price if they decide to sell. If profit acquisition is widespread, the pen could fall below $0.0129 and reach the support level of $0.0100.
Pepe (pepe)
Pepe has faced a 15% drop since the beginning of June, making it one of the worst meme coins this month. However, John “Jugged” Eric, a core member of Pepe’s dog (Zeus), speaks to beincrypto, suggesting that Ethereum-based meme coins like Pepe could rise in July.
“ETH meme coins are attracting more attention due to the increased ETF influx seen by ETH compared to BTC. Furthermore, ETH still holds the second largest market capitalization in the crypto, Ayrick noted.
The MACD indicator shows the first bullish crossover of the month, indicating a potential change in Pepe’s momentum. This helps the coin recover from recent losses and push towards a resistance level of $0.00001216. The rise past this point will show even more upward movement in the coming weeks.
However, if bullish momentum is not possible, Pepe could drop even further. When Altcoin is categorized as $0.0000917 and $0.0000839, the bearish trend could continue. In this case, the bullish outlook would be void and Pepe’s prices could be under pressure.
Disclaimer
In line with Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. Although Beincrypto is committed to accurate and unbiased reporting, market conditions are subject to change without notice. Always carry out your research and consult with an expert before making any financial decisions. Please note that our terms and conditions, privacy policy and disclaimer have been updated.
