Top 5 Meme Tokens to Keep an Eye on This Week: SMI, DOGE, VINU, MONA, ELON
Cryptocurrencies are always a hot topic on the internet, with hundreds of new coins being created. Meme tokens are a new form of cryptocurrency trading that has recently become popular in the crypto scene. Here’s a list of top 5 meme tokens to keep an eye on this week.
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The volume of $DOGE’s on-chain transactions over $100k has reached about ~$2.5 billion, the highest since March 24th. It’s currently 94% of all transaction volume, which is unusually high.
DOGE is currently priced at $0.1396 and ranks #11 on CoinMarketCap. DOGE also has a supply of infinite coins with a market cap of 18.5 billion dollars.
On 1w timeframe, the price action of $DOGE/USDT formed out the Descending Triangle pattern where the price action broke out the resistance trendline and currently respecting the Horizontal Resistance level.
SafeMoon Inu (SMI)
The SafeMoon Inu coin is a community-driven ERC20 token linked with the AntiPaperhand system, providing token holders with 2% payouts. Interested parties can use the platform and invest in this token to create an incentive for themselves. This crypto asset is safe and secure. There’s a chance that the trend will swing in our favour in the future, and SMI could be good for investments.
SMI is currently priced at $0.000006433 and ranks #1078 on CoinMarketCap. SMI also has a supply of 1,000,000,000,000 coins with a market cap of 6 million dollars.
In the 4H timeframe, $SMI/USDT formed the Descending Triangle Pattern, where the price action broke down the Horizontal Support level and went to the next price action level. After being rejected from the Resistance trendline, it again respects the resistance level.
Vita Inu (VINU)
VINU is the currency of the VINU Ecosystem, which operates on a high-speed, feeless, dog-themed rochain. VINU provides unsurpassed TPS and smart contracts. The Vita Inu value is predicted to increase in the coming year. Currently, the estimated price for 2022 is bullish.
VINU is currently priced at $0.00000002058 and ranks #1123 on CoinMarketCap. VINU also has a supply of 964,493,208,424,487 coins with a market cap of 5 million dollars.
Monacoin is a cryptocurrency that can be used as an easy & immediate payment option when it comes to small stores and online shops. It can also be used for tipping, which has helped form a devoted community around the currency. PoW is the system Monacoin uses.
MONA is currently priced at $0.8581 and ranks #498 on CoinMarketCap. MONA also has a supply of 105,120,000 coins with a market cap of 56 million dollars.
On 1w timeframe, the price action of $MONA/USDT Formed out the Descending Triangle Pattern, where the price action has broken down the Horizontal Support level.
Dogelon Mars (ELON)
The Elon Musk-backed cryptocurrency Dogelon Mars surged on the Twitter buy news, trading at an all-time high for April. Unfortunately, it quickly dropped after that. Right now, it’s 6% down from what it was worth at its peak. Dogelon Mars is popular for its large, promising growth space before reaching its full potential.
ELON is currently priced at $0.000001037 and ranks #110 on CoinMarketCap. ELON also has a supply of 1,000,000,000,000,000 coins with a market cap of 574 million dollars.
On the 1D timeframe, the price action of $ELON/USDT Formed the Descending Triangle pattern where the price action got rejected from the Resistance trendline. After testing out the Horizontal Support level, it broke out the Resistance level and currently consolidating above the resistance zone level.
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Discipline and Patience are the most important components of a successful trade. According to the above analysis, the coins we just discussed about might make you decent gains if other market conditions prevail favorably. Again, it’s your hard-earned money that you’ll be using. Do Your Own Research before investing.
Disclaimer: Our analysis is for educational purposes.