Memecoin Rally: POPCAT, BRETT, FLOKI Hit $1B Valuation – Will they Rival DOGE and SHIB?

Mememcoin Markets Watch: POPCAT, WIF, BONK, FLOKI in Focus

Since 2021, the 2 largest memecoins Shiba Inu (SHIB) and Dogecoin (DOGE) have managed to hold their place among the top 20 ranked cryptocurrencies. At the time of writing on Sept 27, SHIB and DOGE market capitalization of $14 billion and $8 billion  respectively, ranking that hotshots like Litecoin (LTC) and Bitcoin Cash (BCH).

This underlines that despite early critcsms and concerns surrounding sustainability, the memecoin sector remains a major mainstay within the cryptocurrency markets.

New Memecoins Approach $1 Billion Market Cap as 2024 Bull Cycle Begins

As adoption grew over the last 4 years, new set of meme tokens have emerged, with unique community features. These new memecoins have sprung up for a number of reasons.

Firstly, enhance scalability on layer-1 networks like Solana (SOL), has helped accelerate the launch process for many new memecoin projects such as Dogwifhat (WIF), BONK, Book of Meme (BOME), SLERF and hundreds of others.

Another major catalyst is the emergence of tokens inspired by celebrities and global poiltical events such WHOREN, TrumpCoin, BabyLone.

Also, like Shiba Inu, Dogecoin and PEPE, pet-themed memecoins are still growing in popularity.

Since the US Fed Rate cut on Sept 18 triggered a major bullish reversal, a number of newly-launched memecoins have skyrocketed in value.

According to the Coingecko Chart, above 5 of the newly-launched memecoins are now approaching the $1 billion market cap milestone.

These five memecoins are benefiting from the bullish market sentiment, and their individual communities are driving their growth. As memecoins continue to captivate the crypto audience, these tokens could play a major role in the next phase of the market.

5 New Memecoins to Watch in Q4 2024 Bull Cycle

1. Dogwifhat (WIF), Sept 2024 Market Cap, $2.31 billion

Dogwifhat (WIF) was launched in February 2024, leading the charge in the Solana memecoin wave earlier in the year. Known for its innovative community-building features, WIF quickly gained popularity thanks to key partnerships within the Solana ecosystem, including collaborations with decentralized finance (DeFi) protocols and gaming platforms.

Its rise was further fueled by community engagement and the broader memecoin craze. WIF first crossed the $1 billion market cap in Feb 2024, less than a month post-launch, signaling its dominance among the new wave of memecoins.

As of September 2024, WIF is trading above the $2.30 mark, maintaining a robust $2.31 billion market cap. Technical indicators suggest the WIF is likely to remaining a standout performer within the crypto space if a Q4 rally unfolds.

First, the Fibonacci retracement indicator, which is often used to identify potential reversals, highlights two key resistance levels at $2.44 (2.618 extension) and $2.83.

These are critical zones to watch, as breaking through these levels could signal a continued upward trajectory, possibly reaching the $4 mark by year-end, especially if Bitcoin breaches its all-time high.

On the downside, WIF has established strong support around the $1.90 (1.618 extension) and $1.68 levels. The CHOP index, which measures market momentum, shows a reading of 34.78, indicating that WIF may still have room to grow before entering an overbought condition.

2. Bonk (BONK), Sept 2024 Market Cap, $1.65 billion

Bonk (BONK) has quickly risen to prominence as a leading Solana-based memecoin, positioning itself as a community-first project. Launched in early 2024, BONK initially gained traction due to its innovative tokenomics, including heavy airdrops to Solana users, which spurred early adoption.

Its strong presence within Solana’s DeFi space and community-driven initiatives have helped the coin sustain momentum.

Based on current technical indicators, BONK looks poised for continued growth in Q4 2024. The Parabolic SAR (Stop and Reverse), which signals trend direction, shows a bullish trend with indicators positioned below the price action.

Additionally, the Bollinger Bands—a volatility indicator—suggest heightened volatility, as BONK’s price approaches the upper band, signaling further upward movement. With the Relative Strength Index (RSI) above 70, BONK enters overbought territory, implying a potential short-term pullback.

Long-term price projections for BONK price in Q4 2024 however, remain bullish, supported by the 50-SMA (Simple Moving Average), which indicates key resistance levels around $0.00022 and $0.00023, while the primary support level lies at $0.00018.

3. FLOKI (FLOKI), Sept 2024 Market Cap, $1.63 billion

Named after Elon Musk’s Shiba Inu dog, FLOKI stands out with its Viking-themed branding and an aggressive marketing strategy. Launched in mid-2023, FLOKI quickly built a strong community, particularly through its bold charitable initiatives, which include plans to build schools in developing nations.

FLOKI’s 26.3% increase in the past week has positioned it as a top contender among the new wave of memecoins.

FLOKI Price Prediction for Q4 2024

With a current market cap of $1.63 billion, FLOKI is benefiting from both community growth Ethereum’s rising prominence and a series of exchange listings that have boosted its accessibility. The coin continues to attract users with its strategic campaigns and strong branding.

Named after Elon Musk’s Shiba Inu dog, FLOKI stands out with its Viking-themed branding and an aggressive marketing strategy. Launched in mid-2023, FLOKI quickly built a strong community, particularly through its bold charitable initiatives, which include plans to build schools in developing nations.

FLOKI’s technical outlook for Q4 2024 remains bullish, supported by its recent 26.3% price surge. The 50-SMA, positioned beneath current price action, reinforces bullish sentiment, pointing to a continuation of upward momentum in the long term.

Key FLOKI price resistance levels to monitor in Q4 2024 are around $0.00018 and $0.00019, with a strong support level at $0.00014 providing a base for future upward moves.

4. Brett (BRETT), Sept 2024 Market Cap, $980.02 million

Brett is a relatively new entrant in the memecoin market, having been launched in June 2024. Despite its youth, BRETT has quickly gained popularity due to its humorous take on internet meme culture. Its developers have embraced a laid-back community ethos, and the project has fostered a loyal following among memecoin enthusiasts.

Brett Price Prediction for Q4 2024

With a 22.2% increase in value over the past week, BRETT has surged to a market cap of nearly $1 billion, making it a promising contender in the space. Backed by meme culture and community-driven initiatives, BRETT is on a growth trajectory similar to other memecoins like PEPE and SHIB.

Looking forward, BRETT’s technical indicators point to sustained bullish momentum throughout Q4 2024. The MACD (Moving Average Convergence Divergence), a trend-following indicator, has crossed above its signal line, confirming continued upward price action.

The Parabolic SAR dots placed beneath the price further affirm this trend. Additionally, the RSI, nearing 74, flags an overbought market, but the MACD suggests the bullish trend will persist.

Key BRETT price resistance levels to watch in Q4 2024 watch are at the $0.095 and $0.10 territories, while $0.085 serves as the key support level.

5. Popcat (POPCAT), Sept 2024 Market Cap, $905.71 million

Popcat, launched in late 2023, is a playful memecoin that draws inspiration from the viral “Popcat” internet meme. With its fun and lighthearted branding, Popcat quickly captured the attention of crypto enthusiasts and meme lovers alike. The token has thrived on its community-driven narrative and meme-based engagement.

POPCAT Price Prediction for Q4 2024

While its 7-day performance has been more modest, with a 2.6% increase, Popcat’s market cap of $905.7 million suggests it is nearing the $1 billion milestone.

The coin’s strong branding and broad appeal within meme culture position it as a token to watch, particularly if broader market sentiment remains bullish in Q4 2024.

In terms of technical analysis, Popcat’s outlook for Q4 2024 remains promising. The MACD has just crossed into bullish territory, signaling potential for continued upward movement.

Popcat is also trading near the upper region of the Bollinger Bands, suggesting increased volatility and further price action to the upside.

However, with the RSI hovering near overbought levels, a short-term pullback is likely before the next leg up. Key resistance levels are set at $0.95 and $1.00, with $0.85 serving as critical support in case of a correction.

Conclusion

These five memecoins are benefiting from the bullish market sentiment, and their individual communities are driving their growth. As memecoins continue to captivate the crypto audience, these tokens could play a major role in the next phase of the market.