Meme Coins Update

With the top meme coins taking a back seat recently, smaller tokens like Vine have emerged as leaders. Inspired by the now-defunct social media platform, Vine is currently the best-performing meme coin.

BeInCrypto has analyzed two additional meme coins that show potential for growth this week.

SPX6900 (SPX)

SPX has been on a consistent uptrend since the start of the month, achieving multiple all-time highs, including today’s peak at $2.27. This price action reflects strong investor interest and positive market sentiment. Currently trading at $2.23, SPX has gained 14% in the last 24 hours. The Ichimoku Cloud indicator, acting as support, indicates bullish momentum, suggesting SPX could rise to $2.50 or higher if market conditions stay favorable.

However, increased selling pressure could reverse this trend. A dip below $2.00 would push SPX towards $1.74 or lower, invalidating the bullish outlook.

Useless (USELESS)

USELESS recently reached a new all-time high (ATH) of $0.441, joining SPX in a bullish rally. It is currently trading above the support level of $0.364, indicating strength in its upward movement. The Parabolic SAR below the candlesticks confirms an active uptrend, and if momentum continues, USELESS could surpass its ATH and reach $0.500.

Conversely, bearish conditions could challenge its upward trajectory. A fall below $0.364 could lead to a sell-off, pushing the meme coin down to $0.296 and invalidating the optimistic outlook.

Vine (VINE)

VINE has seen impressive growth, surging by 152% in the last 24 hours, currently trading at $0.166. This performance marks it as one of the day’s top performers, indicating strong momentum that attracts investor attention.

With solid support at $0.138, VINE is targeting $0.200. If the recent positive trend continues, it is likely to breach this level, signaling further gains ahead.

However, VINE is at risk of selling pressure. A drop below $0.138 could lead to a decline to $0.100 or lower, which would invalidate its current bullish outlook and suggest a possible market correction.