WIF, BOME Price Analysis: Can New Memecoins Flip SHIB This Cycle? 

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WIF, BOME Price Analysis: Can New Memecoins Flip SHIB This Cycle?
  • WIF’s jump into the top 30 was a sign that it could flip SHIB this cycle.
  • The RSI on the WIF/USD chart indicated indecisiveness, suggesting that WIF might drop below $4.
  • BOME’s short-term EMA revealed a bullish trend, meaning the price could rise to $0.023.

Meme coins built on the Solana blockchain including dogwifhat (WIF) and BOOK OF MEME (BOME) seem determined to dethrone Shiba Inu (SHIB). At press time, SHIB’s price had increased by 30.98% in the last 30 days.

But that cannot be compared with the performances of BOME and WIF. Recently, WIF became the 30th most valuable cryptocurrency, flipping PEPE in the process. In terms of its price, data showed that WIF jumped 149.85% within the last month. BOME, on the other hand, climbed by an amazing 1,867%.

If the meme coins continue this momentum, then SHIB might not be the star performer of this cycle like it was in 2021. However, looking at the price potentials of the other two is important. 

WIF Price Analysis

WIF went through a stormy period on March 31 as the price tumbled from $4.76 to $3.81. However, the support bulls had built at $3.56 ensured that the decline was no more than that. Currently, there has been a resurgence in the bullish momentum as the token rose past $4.

Despite the recovery, the 4-hour WIF/USD chart showed that the token has not yet established a strong thesis that could sustain the upswing.  This was evident in the Relative Strength Index (RSI) which struggled to stay afloat at the midpoint. 

Should the RSI climb toward 60.00, then WIF might maintain the northward move. However, if the indicator reading falls, WIF’s price might slip below $4 one more time. 

WIF/USD 4-Hour Chart (Source: TradingView)

Meanwhile, the Bollinger Bands (BB) displayed increasing volatility, indicating there could be massive price fluctuation. From a bullish perspective, the price might rise toward $4.87. On the other hand, a bearish bias could pull WIF down to $3.69.

BOME Price Analysis

BOME’s price increased by 10% in the last 24 hours. Signals from the Exponential Moving Average (EMA) also showed that the bias around the token was bullish. This was because the 20 EMA (blue) had crossed over the 50 EMA (yellow).

However, traders might need to be wary. If BOME’s price slips below the 20 EMA, the thesis could turn bearish in the short term. Should this be the case, the price of the meme coin could drop to $0.012.

On the other hand, a bullish forecast for BOME places the price at $0.023. If this is the case, the market cap of the token might also climb above where it stood.

BOME/USD 4-Hour Chart (Source: TradingView)

In conclusion, it might not be easy to take Shiba Inu off its position. However, it is not impossible. But for that to happen, the prices of WIF and BOME need to do mind-blowing numbers. 

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.