MEMEAI & PEPE Coin Predictions, Will These 2 Memecoins Fall in 2024?

Bittime - The cryptocurrency market has recently seen a significant decline, losing 7.82% in the last 24 hours and falling below the $2 trillion mark to $1.98 trillion. The 24-hour trading volume was recorded at $116.88 billion.

Bitcoin, a major player in the market, plunged to $53,717.38, its lowest level since February. The decline also affected the memecoin sector, with the main token experiencing a correction of more than 15%. 

Given the dominant bearish sentiment, can memecoins recover this month?

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Pepe (PEPE) Price Analysis

Pepe (PEPE) has dropped by 16.84% in the last 24 hours and dropped by 36.02% over the last week. Over the last 30 days, PEPE has lost 46.74% of its value, indicating a strong bearish trend in the market. The Moving Average Convergence Divergence (MACD) indicator shows a consistent increase in the red histogram, reflecting increasing selling pressure. 

Additionally, the MACD average is showing a negative trend, indicating further loss of momentum for PEPE.

The Relative Strength Index (RSI) for PEPE failed to rise above the midpoint on the 1D timeframe, resulting in a sharp decline towards the oversold range. If bulls regain control, PEPE could test its upper resistance level at $0.00001150 (Rp 0.0001886). 

However, if bearish forces continue to dominate, the token may fall to a low of $0.00000625 (Rp 0.0001025).

Also Read How To Buy Crypto:

Meme Ai (MEMEAI) Price Analysis

Meme Ai (MEMEAI) was also hit by the market correction, dropping 12.89% in the last 24 hours and dropping 14.92% over the past week. Over the past 30 days, MEMEAI has dropped 53.63%, indicating a bleak outlook for the token. The RSI shows a sharp decline, indicating an increase in bearish sentiment. 

The moving average trendline shows a negative crossover, indicating that MEMEAI will continue to lose momentum.

On the other hand, the MACD for MEMEAI is showing a flat line, indicating weak price action and uncertainty in future movements. If market conditions improve, MEMEAI price could reach its upper resistance level of $0.0048 (Rp 78.72) in the coming weeks. 

Conversely, if the bearish trend remains dominant, the token may drop to its key support level of $0.000586 (Rp 9.6104).

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Conclusion

The recent downturn in the cryptocurrency market has had a significant impact on memecoins like PEPE and MEMEAI, with both tokens showing a strong bearish trend. While there is potential for a recovery if bullish momentum returns, current indicators point to further downside.

Investors should monitor market conditions and key technical indicators before making decisions regarding memecoins.

How to Buy Crypto with Bittime

You can buy and sell crypto assets easily and safely through Bittime. Bittime is one of the best crypto applications in Indonesia that has been officially registered with Bappebti. 

To be able to buy crypto assets on Bittime, make sure you have registered and completed your identity verification. Also, make sure you have sufficient balance by depositing some funds into your wallet. Just so you know, the minimum asset purchase on Bittime is IDR 10,000. After that, you can make crypto asset purchases in the application. 

Monitor the price chart movements of Bitcoin (BTC) , Ethereum (ETH) , Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.