- Traders were taking profits off TURBO, suggesting a decline to $0.0087.
- While PEPE might bounce to $0.000017, FLOKI could also rise to $0.00030.
- BONK’s momentum was bearish, and this could cause a decline to $0.000031.
Unlike a few weeks ago, memecoins have rallied over the last seven days. Leading the pack this time is Turbo (TURBO), the memecoin inspired by Artificial Intelligence (AI).
At press time, TURBO traded at $0.0079, a 63% increase in the last seven days. The token’s price has risen by an incredible 14x within the last month. However, TURBO was not alone in the surge.
Frog-themed Pepe (PEPE) rallied by 124% in May; Floki (FLOKI), backed by a lot of hype, jumped by 66.02% while BONK’s price increased by 53.79% within the same period.
With these impressive rallies, traders might be wondering if the tokens will continue their upward trajectory in June. While that might depend on a multitude of factors, here’s an analysis of potential price targets as a new month begins.
Turbo (TURBO)
At press time, Coin Edition looked at the Exponential Moving Average (EMA). One thing we observed was that the 20 EMA (blue) had crossed over the 50 EMA (yellow). This is known as a golden cross and a bullish sign.
However, the price of TURBO, according to the 4-hour chart, has begun to decrease. It was the same as the Open Interest. With this position, the price of the token could fall to $0.0062. However, if a rebound occurs, the price could rally back to $0.0087.
TURBO/USDT 4-Hour Chart (Source: TradingView)
Pepe (PEPE)
For PEPE, the 4-hour chart showed that the Relative Strength Index (RSI) moved upwards. This was a sign that the momentum was getting bullish. If sustained, the price of PEPE could retest its recently achieved all-time high.
The On Balance Volume (OBV) also reflects this sentiment as the reading indicated a rise in buying pressure. As it stands, PEPE could rise past $0.000017 before the end of June.
PEPE/USD 4-Hour Chart (Source: TradingView)
Floki (FLOKI)
Unlike TURBO and PEPE, FLOKI flashed consistent green bars on the chart, typically a sign of an impending price increase. However, the Awesome Oscillator (AO) was negative, suggesting that the momentum might trend downward.
If this is the case, the bullish prediction could be invalidated. An assessment of the Accumulation/Distribution (A/D) indicator showed recent selling pressure of late. This might not be surprising especially as it seems that traders are taking profits off recent gains.
In the short term, FLOKI’s price might decrease to $0.00021. However, a bounce of the lows could be possible before the end of June, and the price might hit $0.00030.
FLOKI/USD 4-Hour Chart (Source: TradingView)
Bonk (BONK)
On the 4-hour BONK/USD chart, the Moving Average Convergence Divergence (MACD) was negative. This suggests that the memecoin’s momentum was bearish. The 12 EMA (blue) and 26 EMA (orange) further validates this assessment.
However, the Bollinger Bands (BB) showed that volatility around the token was increasing. As such, the price could fluctuate significantly.
BONK/USD 4-Hour Chart (Source: TradingView)
In a highly bullish case, BONK could hit $0.000039. However, a bearish situation could send the token down to $0.000031.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
