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BeInCrypto analyzed five meme coins that could recover their losses in March.
DADDY
DADDY surprised the market this week with a 70% price increase, recovering its February losses. This altcoin is currently trading at $0.054. This rally indicates a change in investor sentiment, and if the current momentum continues, it could signal further gains.
DADDY is now showing the potential to break above the $0.068 resistance. This level has been a challenge for meme coins since mid-December, but the bullish factors could finally push the price above it. The sustainability of this uptrend depends on maintaining investor confidence.
However, if DADDY fails to hold the $0.054 support, the price could retreat to the $0.045 support level. Deeper declines could invalidate the bullish outlook and trigger a change in sentiment, pushing the coin further back.
PEPE
PEPE has continued its downtrend, trading at $0.00000718 after the decline that started in November 2024. While the altcoin's price is under pressure, the situation could change. Particularly, PEPE has a strong 0.89 correlation with BTC, so a BTC rebound could provide a foundation for its recovery.
With the possibility of BTC nearing the market bottom, PEPE could benefit from BTC's recovery. If BTC gains momentum, PEPE is likely to move in tandem. The key indicator would be PEPE transitioning $0.00000951 into support and eventually breaking above the $0.00001146 resistance level, signaling further upside.
If the downtrend persists, PEPE risks falling below the $0.00000748 support, and a breakdown of this level could test $0.00000632, invalidating the bullish case and signaling deeper declines.
POPCAT
POPCAT has shown a noteworthy recovery, currently trading at $0.265 with a monthly decline of only 9.5%. This altcoin is attempting to break above the $0.342 resistance, and further upside potential exists. A successful breakout could lead to substantial gains if market sentiment continues to improve.
In the previous market cycle, it rebounded from the $0.238 support and, combined with bullish signals, triggered a rally to $0.645. The ADX is currently below the 25.0 threshold, indicating a weakening of bearish momentum.
If POPCAT follows a similar pattern, this change could set the stage for a 129% upside.
However, if POPCAT fails to break above $0.342, it could retreat to the $0.238 or even the $0.203 support level. Such a decline would invalidate the bullish outlook and signal ongoing correction or additional losses.
PNUT
Another prominent meme coin, PNUT, exceeded expectations this week, rallying 56% to reach $0.226 and wiping out its February losses. This altcoin is now focused on securing $0.227 as a stable support level. Maintaining this level is crucial in the short term for sustained upward momentum and price stability.
If $0.227 successfully establishes itself as support, PNUT could leverage the improved market conditions and investor confidence to rise to $0.442. This recovery would significantly offset the losses incurred in January, and if the market trend remains favorable, the altcoin could be positioned to gain additional profits.
However, if PNUT fails to secure the $0.227 support level, the altcoin risks retreating to $0.142. Such a decline could lead to a bearish reversal and raise concerns about the sustainability of the recovery, potentially leading to further adjustments.
PENGU
PENGU hit the market bottom in February, recording a new all-time low of $0.0067 amid bearish conditions. Nevertheless, this altcoin has shown resilience and may be preparing for a potential rebound.
After a 24.6% bounce this week, PENGU is currently trading at $0.0090 and targeting a breakout above the $0.0100 level. If it can overcome this resistance and establish it as support, the altcoin could reach $0.0147. This would help recover most of the February losses and signal a positive outlook.
However, if PENGU fails to break above the $0.0100 barrier, it risks consolidating above the all-time low of $0.0067. In this case, a bearish reversal could lead to additional losses, potentially weakening short-term investor confidence.
