ConstitutionDAO's Value Surges 56% Amid Meme Coin Bullish Trend

Meme coins have continued to show bullish trends despite a cooling market. Leading this trend is ConstitutionDAO, which saw a 56% rise in its value. This surge highlights the growing interest in meme coins among investors, who are increasingly looking for alternative investment opportunities in the cryptocurrency market.

ConstitutionDAO, also known as PEOPLE, was launched in November 2021 and has a total circulating supply of 5.06 billion PEOPLE. The token's fully diluted valuation stands at $172.53 million. PEOPLE's price surged to $0.035, with a critical support level at $0.031. This rise indicates increased investor interest and could signal further positive movement if the support level holds. Securing $0.031 as support is essential for PEOPLE to maintain its bullish momentum. If successful, the next target would be $0.041, which could attract more buying pressure and strengthen its position in the market. However, if PEOPLE fails to secure $0.031 as support, it may experience a decline, with increased selling pressure or profit-taking driving the price lower, potentially reaching $0.023. Such a drop would invalidate the current bullish outlook, affecting investor sentiment and potentially leading to further losses.

Book of Meme, or BOME, resurfaced this week with a 25% rise in the last 24 hours. The meme coin is currently trading at $0.0028 and is facing a key resistance at $0.0033. The price action suggests potential for further upward movement, but this resistance could hinder continued gains. Despite the recent surge, BOME’s bullish momentum seems to be losing strength. The token appears to be consolidating between $0.0033 and $0.0023, which could limit price movement in the short term. A lack of buying pressure could stall its rally, causing it to remain in this range for now. If broader market conditions remain positive, BOME may break through the $0.0033 resistance. This could trigger a further rally, pushing the price toward $0.0040. Such a move would invalidate the bearish outlook and attract more investors, strengthening its position in the market.

Dogelon Mars, or ELON, is currently trading at $0.0000001757, just below the resistance level of $0.0000001781. The meme coin is tracking broader market trends but is showing positive signs with a growing number of holders. As of now, the total number of ELON holders stands at 162,419, indicating increasing investor interest. ELON has demonstrated strong performance in the past, earning its place as a reliable token. To reach its target of $0.0000002075, the coin needs to flip the $0.0000001781 resistance into support. Securing this level would pave the way for further upward movement and attract more investors to the token. However, if ELON fails to secure $0.0000001781 in support, it may experience a reversal. A drop below $0.0000001627 could lead to a further decline, potentially reaching $0.0000001402. This would invalidate the current bullish thesis and shift market sentiment away from the meme coin.