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Return of the Memes

The top memecoins are running, is the next big rally beginning?
Return of the Memes
David Christopher David Christopher
Apr 23, 2024 • 2 min read
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Memes strike back. Memecoins have hit the gas again with BONK up ~60%, PEPE up ~50%, and POPCAT (the tokenized version of the OG internet meme) up ~300% over the past seven days. Is this the first big push in the next major rally for the sector?

Whatever happens next, Bitcoin’s rebound has certainly played a part in this return, as have CEX listings, whether in the form of perps or spot:

Focusing in on PEPE, its technicals indicate positive momentum, with its EMA10 (the average price of the last 10 days) on target to pass its EMA55 mark, an indication of a bullish phase.

Additionally, with the Relative Strength Index at a neutral 51 (meaning a balanced amount of bullish and bearish holders) and a weakening Average Directional Index at 20, PEPE's data suggests dwindling bearish power, positioning the frog for greener pastures.

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In The Article
Bitcoin Bitcoin Coinbase Coinbase PEPE PEPE BONK BONK
David Christopher

Written by David Christopher

430 Articles • View all      

David is a writer/analyst at Bankless. Prior to joining Bankless, he worked for a series of early-stage crypto startups and on grants from the Ethereum, Solana, and Urbit Foundations. He graduated from Skidmore College in New York. He currently lives in the Midwest and enjoys NFTs, but no longer participates in them.

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