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Meme coins had a rough day today, even as the broader crypto market enjoyed gains. The collective value of these joke tokens fell by 4.4%, resulting in the meme coin market cap dropping to $55.37 billion. However, amidst this chaos, Joe Coin managed to make 31% gains.
BeInCrypto has analysed two other meme coins for the investors to watch that may have noted declines today but still have the potential to observe gains.
Popcat (POPCAT)
- Launch Date – December 2023
- Total Circulating Supply – 979.97 Million POPCAT
- Maximum Supply – 979.97 Million POPCAT
- Fully Diluted Valuation (FDV) – $258.85 Million
- Contract Address – 7GCihgDB8fe6KNjn2MYtkzZcRjQy3t9GHdC8uHYmW2hr
POPCAT faced a tough 24 hours, dropping 11.5% to trade at $0.26. The altcoin failed to secure the $0.29 support level during this downturn. This price action suggests that POPCAT is struggling to find stability, and its future movement will depend on broader market conditions.
Despite the recent drop, the Ichimoku cloud indicates potential bullishness for POPCAT, although the momentum is fading. If the broader market improves, the meme coin could recover, potentially flipping $0.29 into support. This would signal a positive shift for POPCAT, offering the chance for price gains in the near future.
However, if the bearish trend persists, POPCAT risks falling below the $0.24 support level. A drop to $0.20 would invalidate the bullish thesis and suggest further downward movement. In this case, POPCAT could face greater selling pressure, weakening its price outlook.
Toshi (TOSHI)
- Launch Date – August 2023
- Total Circulating Supply – 420.69 Billion TOSHI
- Maximum Supply – 420.69 Billion TOSHI
- Fully Diluted Valuation (FDV) – $187.81 Million
- Contract Address – 0xac1bd2486aaf3b5c0fc3fd868558b082a531b2b4
TOSHI has experienced a 7% decline over the last 24 hours, and the meme coin is now facing the potential loss of the $0.000425 support. This drop signals possible further downside for TOSHI, which could extend the recent bearish momentum unless key support levels are maintained in the coming days.
Despite the recent decline, the Ichimoku Cloud suggests potential bullishness for TOSHI. This bullish outlook will be confirmed if TOSHI successfully flips the $0.000488 resistance level into support. A successful move above this level could trigger a recovery, pushing the price toward $0.000575 and strengthening the altcoin’s momentum.
However, if TOSHI fails to maintain the $0.000425 support level, it could slide further to $0.000384. A drop to this level would invalidate the current bullish outlook, signaling a potential reversal in TOSHI’s price action. This would increase the risk of further declines for the meme coin.
Small Cap Corner – Joe Coin (JOE)
- Launch Date – October 2023
- Total Circulating Supply – 1 Billion JOE
- Maximum Supply – 1 Billion JOE
- Fully Diluted Valuation (FDV) – $60.28 Million
- Contract Address – 0x76e222b07c53d28b89b0bac18602810fc22b49a8
JOE has seen a 34% rise over the last 24 hours, reaching $0.0606 and impressing its 9,070 holders. The meme coin has even managed to reach a near-all-time high today, showcasing strong upward momentum. This price surge indicates a potential for further growth in the near term.
Although JOE made efforts to push toward its all-time high of $0.0700 during the day, it did not succeed in breaching this level. However, the altcoin’s continued bullish momentum suggests that it could revisit and break this resistance in the coming days, further boosting investor confidence.
If JOE fails to hold the support levels of $0.0600 or $0.0500, the altcoin could face significant difficulty recovering. A drop below these levels would likely invalidate the current bullish thesis and send JOE towards the support of $0.0392.