BRETT and BONK lead the rally as DOGE and SHIB strengthen—here’s what’s next for Memecoin Mania!
A few minutes ago, Bitcoin broke a new ATH at $94,000, but failed to trigger the entire crypto market. This may be due to the increasing dominance of Bitcoin. Regardless of the ongoing sell-off that pushed the price of BTC down to $92,500, some altcoins were fighting bearish activity. Memecoins such as Brett (BRETT) and Bonk (BONK) have been leading the rally since the early trading hours, an uptrend that is expected to continue for a long time.
BONK (BONK) price analysis
The memecoin bonk has recorded massive buying volume over the past few days, which has helped the token print huge green candles. Although the bears tried to claim some dominance, the growing market sentiment helped the bulls to hold on to the rally. Now that the token is leading major gains, it will be interesting to see if the price of BONK holds a bullish trend during the growing bearish movement.
As shown in the chart above, BONK's price rally hit a new ATH at $0.00005916, attracting bearish activity, but the bulls managed to hold the rally above $0.000055. Bonk Dao's recent rounds of burning 1 trillion tokens may have boosted its rally. This coupled with the golden cross could continue to rise and reach 1.2 FIB at $0.00005817, which could serve as a strong base for further price action, reaching the top target above $0.000007.
Brett (BRETT) price analysis
After the recent price action, BRETT price is inching closer to the high of $0.19, which is only 9% away from current levels at $0.17. The rising market sentiment is set to mark a new ATH above $0.2 in the short term, which may attract significant bearish action for some time.
As price regained levels above the high line, the bulls sparked a strong bull run. Although the strength seems to have weakened as the signal failed to form a new ATH, the momentum is still at support, suggesting that a new breakout may be near. Meanwhile, DMI + Di shows a bearish divergence, but OBV remains high. Therefore, BRETT price may hit the support zone around $0.15 and create a strong momentum to reach further above $0.2.
