This Week in Meme Coins: TRUMP, AKUMA Post Rallies While FARTCOIN Falls By 40%
Meme coin action varied this week as AKUMA rallied, MAGA gained from political buzz, and FARTCOIN struggled after a 40% drop.
The past seven days did not prove exceptionally bullish for the crypto market, as Bitcoin continued to hover below the $100,000 mark. Nevertheless, some emerging names took the top spot among the meme coins, with some other familiar names noting a dip.
BeInCrypto has analyzed three such meme coins that triggered varying sentiments among investors this week.
Akuma Inu (AKUMA)
AKUMA has captured attention as a new meme coin, rising by an impressive 183% this week to reach $0.00132. This sharp increase highlights the altcoin’s growing popularity and investor interest despite broader market challenges. Its recent performance highlights its potential in the volatile crypto space.
The altcoin has established a key support level at $0.00106, providing a solid foundation for continued upward movement. With the market attempting recovery, AKUMA is positioned to maintain its bullish momentum.
AK
UMA Price Analysis. Source:
TradingView
However, if AKUMA falls through the support level of $0.00106, it could face a significant drop to $0.00085. Such a decline would jeopardize its recent progress and invalidate the bullish outlook, highlighting the importance of maintaining the current support to sustain momentum.
MAGA (TRUMP)
MAGA experienced an impressive 70% rally over the past week, briefly crossing the $3.00 mark before pulling back to $2.78 at the time of writing. This sharp increase in price reflects growing market enthusiasm surrounding the meme coin’s potential as political events continue to draw attention to the asset.
The rally appears driven by anticipation of Donald Trump’s inauguration as US President on January 20, which is generating significant interest among investors.
MAGA Price Analysis. Source:
TradingView
As the inauguration date approaches, MAGA is expected to maintain its bullish momentum, with the possibility of reaching new highs. The meme coin could climb to $4.44, provided market enthusiasm persists, and external factors continue to fuel optimism around the asset.
Fartcoin (FARTCOIN)
FARTCOIN emerged as one of the worst-performing cryptocurrencies this week, suffering a 40% decline over the last seven days. The meme coin’s price dropped below the critical support level of $1.00, signaling a lack of resilience amid broader market challenges that have left investors searching for signs of recovery.
The correction followed shortly after FARTCOIN achieved its all-time high of $1.61. The absence of bullish momentum in the wider market appears to have fueled the sharp downturn, reflecting the volatility often associated with meme coins.
FARTCOIN Price Analysis. Source:
TradingView
If FARTCOIN successfully reclaims $0.98 as a support level, the meme coin could see a resurgence. This would position the asset to break back above $1.00, with a possible rally toward its ATH of $1.61, provided the broader market conditions improve and investor confidence returns.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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