Memecoins FLOKI, PEPE Register Explosive Runs as BTC, ETH Climb

The prices of Bitcoin (BTC) and Ethereum (ETH) recorded mild jumps in the last 24 hours. But for memecoin Floki (FLOKI) and Pepe (PEPE) , that was enough to trigger double-digit increases within the same period.

For a while, memecoin has been in the spotlight. However, its parabolic growth slowed down during the week. But Friday, March 8 was another day for the prices of FLOKI and PEPE to make notable gains.

According to CoinMarketCap , FLOKI’s price increased by 53.10% as the market cap climbed to the 50th position. PEPE, which was built on the Ethereum blockchain hit a market cap of $3.86  billion as the value increased by 15.32%.

FLOKI Price Prediction

On the 4-hour timeframe, FLOKI’s price continued to take shots at a higher level. As of this writing, the Relative Strength Index (RSI) showed that the token was overbought. Typically, this was supposed to trigger a reversal from the uptrend.

But, in the context of the bull market, this might not be the case as FLOKI seems to be in the price discovery stage. At press time, the price of the memecoin was $0.0002705. 

If bears fail to suspend the upswing, the value might climb higher. From a bullish point of view, FLOKI might head toward $0.0003500 in the short term. Should this be the case, the project might climb into the top 40 per market cap.

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

Like the RSI, the Awesome Oscillator (AO) displayed green histogram bars, indicating that the cryptocurrency was destined for a higher value within the next few days. However, if traders decide to book profits, the momentum might change and FLOKI’s price might decline.

PEPE Price Prediciton

PEPE has been spearheading the memecoin rally as its price increased by a whopping 851% in the last 30 days. While the frog-themed token experienced a pullback around March 7, its recent trend seems to have buried the chances of another decline.

With its parabolic structure on the 4-hour chart, the price looked ready to hit $0.000010. Furthermore, the Moving Average Convergence Divergence (MACD) displayed a positive reading, indicating a bullish momentum.

As it stands, a bullish engulfing candle might appear. But that would only be the case if bulls can defend the $0.0000066 support. 

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

Should this be the case, PEPE’s price might break out. But a bearish outlook might force the price down to $0.0000070. If this is the scenario, $0.0000070 could be a good entry before the rally begins again.