Memecoins including Pepe [PEPE] and Floki [FLOKI] joined the market rally as prices recovered over the last 24 hours. At press time, PEPE had
joined the market rally as prices recovered over the last 24 hours. At press time, PEPE had climbed by 23.62%. FLOKI, on the other hand, jumped by a mind-blogging 44.24% within the same period.However, Solana-based memecoins were not left out of the revival. But the only difference was that none of them got close to either of the Ethereum tokens mentioned above.According to our on-chain analysis, active addresses played a vital role in the pump.
The previous decline in the metric suggested that participants lost interest in the tokens. Hence, there was little to no demand to trigger a price increase.that the situation has changed. As of this writing, FLOKI’s active addresses had risen to 6851. PEPE also recorded a jump in the metric which drove it to 4448.that the value of the tokens might continue to increase over the next few days. But that would only happen if traders do not decide to depart the networks again.
At press time, the 9 EMA had crossed over the 20 EMA . This is considered a bullish trend. But the EMAs were close to each other and PEPE’s price at $0.0000081.For FLOKI, its situation was similar to PEPE as the EMAs displayed the exact trend. If the price of FLOKI drops to $0.00021, then the upswing might slowly decline.In addition, the Awesome Oscillator revealed that bulls were trying to avoid that as it indicated increasing upward momentum.
In a highly bearish case, FLOKI’s price might drop to $0.00018 while PEPE might decrease to $0.0000066. However, a bullish prediction for both memecoins could see their values climb to new all-time highs.Victor is a full-time journalist at AMBCrypto. Before his sojourn into the world of journalism, he was a “buy the top, sell the bottom” merchant while doubling as a sales funnel copywriter.
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