Are Memecoins a Thing of the Past? Exploring the Prospects of $DOGE, $PEPE, $WIF, and $TRUMP

It feels like ages ago when memecoins would skyrocket by hundreds or even thousands of percent in mere days. Are these crypto memes fading into oblivion now? What lies ahead for $DOGE, $PEPE, $WIF, and $TRUMP?

Is $DOGE Still the Top Contender for Survival?

Source: TradingView

Among all the memecoins, $DOGE has managed to endure over time and might be the strongest candidate for survival due to its ties with Elon Musk. Observing the weekly chart above, the upward trend persists, but maintaining the 0.786 Fibonacci level is crucial for the bulls. A slight drop below the upward trendline will also need correction, ideally before the weekend concludes.

On the bullish side, the Stochastic RSI appears at the chart's bottom. If these indicators can reverse direction and move upward beyond the 20.00 mark, it could spark new upward price momentum, potentially extending over several weeks.

Has $PEPE Hit Rock Bottom?

Source: TradingView

Over the past few months, $PEPE took a significant plunge, now sitting about 66% below its peak. However, it appears the bottom might have been reached, with the price stabilizing at the intersection of horizontal support and the rising bullish trend line.

Similar to $DOGE, the weekly Stochastic RSI for $PEPE is at its lowest point. This might present a favorable moment for those interested in $PEPE. Nevertheless, if the price dips below the support level, it could signal the end of this bull phase for $PEPE.

$WIF's Chart Offers Little Hope

Source: TradingView

The weekly chart for Dog Wif Hat (WIF) appears bleak. A promising breakout from the triangle last November didn't result in a higher high, and since then, the price has plummeted through the triangle's base, leading to its current unfortunate state. 

Despite the Stochastic RSI indicators being at their lowest point, the 84% decline doesn't inspire much confidence among potential investors. Nonetheless, with favorable conditions in the final bull market stage, $WIF could still experience an unexpected turn.

Is $TRUMP Entering a Bottoming Phase?

Source: TradingView

With only three weeks of price activity, forecasting $TRUMP's future is challenging. What is clear is that $TRUMP has plummeted by 77% since its remarkable initial surge on launch day. 

This decline was somewhat anticipated due to the massive hype surrounding this memecoin and its associated figure. However, if it is undergoing a bottoming process, those willing to take a gamble might consider entering. The chart above outlines potential targets based on Fibonacci levels.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.