Meme coins had a mixed month, with some seeing massive gains while others dropped to all-time lows. However, Useless Coin stood out, owing to its impressive gains and maintaining stability.
BeInCrypto has identified two other meme coins worth watching in July, as they show strong signs of potential growth.
Useless (USELESS)
USELESS led the meme coin market in June with an explosive 1,635% rise, setting new all-time highs nearly every day. The altcoin reached its latest ATH today at $0.209. This growth showcases impressive momentum, and investors are watching closely for further upward movement.
Despite the massive rise, USELESS has shown no signs of exhaustion or selling pressure. The Parabolic SAR indicator below the candlesticks suggests that the uptrend is likely to continue. As the Solana-based meme coin gains popularity, it could push toward $0.450 over the next month, further boosting investor interest.
However, as with all meme coins, unexpected selling from holders could reverse the trend. If investors decide to cash out, USELESS might fall to the support level of $0.066. Such a drop would invalidate the bullish outlook and erase the gains made.
Pudgy Penguins (PENGU)
PENGU had a rocky start to June but has gained significant traction over the past week. The meme coin rose by 62.6%, reaching $0.0137, marking a two-month high. This recent surge shows the altcoin’s ability to rebound despite earlier struggles, drawing attention from investors.
A major advantage for PENGU is its strong correlation of 0.70 with Bitcoin. As Bitcoin continues its upward momentum and forms new all-time highs, PENGU is expected to benefit from this trend. With Bitcoin’s strength, PENGU could breach the $0.0151 resistance level and potentially reach $0.0180 in the coming days.
However, PENGU’s price is influenced by its large holders, with over 47.72% of holders owning more than $10 worth of PENGU. These investors could significantly impact the price if they decide to sell. If profit-taking becomes widespread, PENGU may fall back below $0.0129, potentially reaching the support level of $0.0100.
Pepe (PEPE)
PEPE has faced a 15% drop since the beginning of June, making it one of the worst-performing meme coins this month. However, Jon “Jagged” Eyrick, Core Member of Pepe’s Dog (ZEUS), speaking to BeInCrypto, suggests that Ethereum-based meme coins like PEPE could experience a rise in July, which may help boost their price.
“Meme coins on ETH are gaining more attention due to the increased ETF inflows which ETH is seeing compared to BTC… Additionally, ETH still holds the second largest market cap in crypto and DeFi is the backbone of its infrastructure, so there is a solid case to expect strong price performance. Based on this, liquidity would flow naturally into the biggest projects on Ethereum, including well known memes such as $PEPE and those that focus on authenticity and transparency,” Eyrick noted.
The MACD indicator shows the first bullish crossover of the month, signaling a potential shift in momentum for PEPE. This could help the coin recover from recent losses and push toward the $0.00001216 resistance level. A rise past this point would indicate further upward movement in the coming weeks.
However, if the bullish momentum fails to materialize, PEPE could experience further declines. If the altcoin falls through $0.00000917 and $0.00000839, the bearish trend may continue. In this case, the bullish outlook will be invalidated, and PEPE’s price could remain under pressure.
Disclaimer
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