Pippin, Moo Deng, Dogwifhat Surge 94%, 95%, 25% as Bitcoin Hits $105,000

Meme coins have followed the footsteps of Bitcoin, which hit $105,000 today. Leading the charge among these joke tokens is Pippin, a relatively small-cap coin that registered over a 94% rise in the span of 24 hours. This surge has positioned Pippin as a notable player in the meme coin market, attracting significant interest from both smart money and retail investors. However, the interest is currently skewed by selling pressure, which is hindering further gains. Nansen data shows $1.9 million in inflows to exchanges within the past day, indicating a healthy distribution of tokens with a low 3.13% bundle buy. These positive indicators could help Pippin breach the $0.052 resistance level, potentially pushing the price towards $0.064. However, excessive selling could derail Pippin’s upward momentum, leading to a decline from $0.049 to $0.035 and testing the next major support level.

Another meme coin that has seen significant gains is Moo Deng (MOODENG), which surged by 95% over the last 24 hours. Currently trading at $0.26, MOODENG is experiencing significant bullish momentum, with investors eager to capitalize on its rapid gains. This momentum could potentially lead to further price growth, with the altcoin’s strong performance and increasing demand suggesting that it could maintain its upward trajectory if market sentiment remains positive. However, with MOODENG reaching a 4-month high, the meme coin faces the risk of profit-taking. Selling pressure could cause a decline below $0.24, possibly dipping to $0.18. If the downward momentum persists, the price could eventually fall to $0.12, invalidating the current bullish outlook.

Dogwifhat (WIF) has also seen a rise in price, increasing by 25% over the last 24 hours and trading at $1.18. The altcoin’s price movement is largely influenced by broader market cues. As the cryptocurrency market fluctuates, WIF’s performance depends on how well Bitcoin and top meme coins perform in the coming days. If WIF follows the lead of Bitcoin and other meme coins, it could breach the resistance at $1.24 and climb toward $1.52. A rise to this level would attract new investors, significantly increasing market interest and potentially pushing the price further as momentum builds. However, unforeseen selling from WIF holders could reverse the current trend. If selling pressure mounts, the price may fall below $1.04 and potentially reach $0.85. This could invalidate the bullish outlook and put a halt to the altcoin’s recent gains, leading to further uncertainty.