Market
Meme Coins Weekly Recap: FARTCOIN Overthrows DOGE, WIF
The second week of December saw mixed performances for meme coins, with most experiencing double-digit declines. This development, as stated in this meme coins weekly recap, aligns with the broader market condition that has seen most cryptos lose hold of the bullish momentum they recently had.
Despite the slump in the prices of meme coins like Dogecoin (DOGE) and dogwifhat (WIF), Fartcoin (FARTCOIN) put up a performance that was different from the rest.
Dogecoin (DOGE)
Some weeks ago, Dogecoin’s price flashed signals of its readiness to move toward the $1 mark. However, this week, things changed as the meme coin’s value dropped by 10%.
According to the 4-hour, the decline in DOGE’s value could be linked to a rise in distribution. Specifically, the Money Flow Index (MFI), which looks at the level of buying and selling pressure in the market, declined from 75.57 to 24.12.
This decline indicates that some DOGE holders booked profits from the previous week’s hike. As of this writing, the trading volume around DOGE has decreased, indicating that the period to rebound is not yet here.
Should this trend continue, the Dogecoin’s price could slide again. This time, it could drop as low as $0.37. But if the meme coin accumulation rises, this might change, and Dogecoin could rally toward the $1 milestone.
dogwifhat (WIF)
Like Dogecoin, WIF’s price decreased this week. However, WIF’s decline is a 25% correction due to rising selling pressure. On the daily chart, this BeInCrypto meme coins weekly recap observed that WIF has formed a head-and-shoulders pattern.
The head and shoulders pattern is bullish-to-bearish, suggesting that the value of a cryptocurrency might slide further. Considering this, the Solana meme coin’s price could drop to $1.88.
However, if bulls defend the support around $2.35, this prediction might not come to pass. In that scenario, the meme coin’s value might jump to $3.93.
Fartcoin (FARTCOIN)
While meme coins like DOGE and WIF experienced declines, Fartcoin, which has recently gained the market’s attention, soared. According to the daily chart, FARTCOIN’s price increased by 200% between December 8 and the time of writing.
This significant price increase could be linked to the rising bullish sentiment around AI agents. Recall that Fartcoin was one of the meme coins developed as a result of Truth Terminal’s post.
From a technical perspective, the volume around the meme coin has dropped, suggesting that the cryptocurrency might experience a pullback. If validated, then FARTCOIN’s price might decline to $0.41.
On the flip side, if buying pressure increases, this trend might change. In that scenario, FARTCOIN could bounce to $0.78.
Disclaimer
In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.