Top 5 Memecoins to Watch in May

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SUI meme coins are gaining major attention as the SUI ecosystem continues to strengthen. The SUI DEX trading volume has increased by 74% over the past 7 days, reaching $3.8 billion, becoming the fifth-largest chain by decentralized trading volume, surpassing Arbitrum.

As interest in SUI grows, key meme coins such as Sonic Snipe Bot (SONIC), LOFI, MEMEFI, MIU, and Food the Pug (FUD) are showing strong momentum and major technical tests. The next few days could be crucial in determining which tokens will emerge as leaders in the rapidly growing SUI meme coin space.

Sonic Snipe Bot (SONIC)

Sonic Snipe Bot is designed for lightning-fast trade execution. This tool is fully integrated with the Telegram application and stands out by supporting 31 blockchain networks, including Sui, Ton, Injective, Solana, and TRON.

Sonic Snipe Bot also supports all major bonding curves like Sui's MoveVM, providing flexible and powerful options for traders looking to operate across multiple ecosystems without leaving Telegram.

SONIC Price Analysis.
SONIC Price Analysis. Source: TradingView.

Over the past 7 days, the native token SONIC associated with the bot has risen 27%, reaching a market cap of approximately $1.7 million. If positive momentum continues, SONIC could challenge levels above $0.40, potentially reaching $0.426.

However, if the trend reverses and selling pressure increases, the token could drop back to $0.29, and in a stronger downtrend, could be tested down to $0.24.

LOFI

LOFI is one of the largest meme coins on the SUI blockchain, themed around a Yeti character. Despite a strong brand and visibility, LOFI stands out this week for less positive reasons, being the only token among the top 10 SUI meme coins that declined over the past 7 days.

This relative underperformance may indicate weakened investor interest compared to its peers, but could provide a rebound opportunity if overall sentiment for SUI meme coins remains strong.

LOFI Price Analysis.
LOFI Price Analysis. Source: TradingView.

LOFI continues to strive to become one of the most recognized meme projects on the SUI blockchain. If momentum recovers, LOFI could challenge $0.054 above the $0.045 level.

However, the $0.030 support level remains crucial. Falling below this zone could trigger a steeper decline to $0.0158, and with accelerated selling pressure, could be tested down to $0.0055.

MEMEFI

MEMEFI is a Telegram-based game and Web3 meme universe with over 50 million players worldwide. Rapidly climbing the ranks, it has become the second-largest SUI meme coin with a current market cap of $35 million.

This reflects a sharp adjustment from its peak of $51 million reached yesterday.

Despite the decline, MEMEFI has recorded an impressive 353% increase over the past 7 days.

MEMEFI Price Analysis.
MEMEFI Price Analysis. Source: TradingView.

If MEMEFI can recover its upward momentum, it could first aim to break through the $0.0037 resistance. A successful breakthrough could open the path to $0.0053, potentially extending the rally.

However, if the ongoing correction intensifies, the first major support level to watch is $0.0026. Falling below this could push the price to $0.00185, and with strengthened selling pressure, could even be considered down to $0.00143.

MIU

MIU is currently the largest meme coin on the SUI network, with a market cap of $68 million. Over the past 7 days, its price has risen 16.7%, further strengthening its leadership position within the growing SUI meme coin ecosystem.

As the largest meme coin in this space, MIU has no competitors that can match its size or visibility. As the SUI ecosystem attracts more attention and gains momentum, MIU can continue to benefit from the overall increased interest.

MIU Price Analysis.
MIU Price Analysis. Source: TradingView.

As a key player, it is strongly positioned to ride the next wave of growth if SUI meme coin trends remain positive.

If MIU's positive momentum continues, the token could test and set new short-term targets around the $0.000000080 level.

However, if the trend weakens and selling pressure emerges, MIU could first drop to the $0.0000000689 support level. A deeper correction could push the price down to $0.0000000599.

Food the Pug (FUD)

This meme coin is seeking a leading position in the growing SUI meme coin ecosystem. FUD currently has a market cap of $3.8 million, down from its peak of $5.9 million two days ago.

Despite falling nearly 5% in the past 24 hours, FUD has risen 41% over the past 7 days, showing strong underlying momentum.

FUD Price Analysis.
FUD Price Analysis. Source: TradingView.
Technically, FUD has tested a support level of $0.0000000634. If this level is not retested and maintained, the next downward target would be around $0.000000050. On the upside, if the current correction stabilizes and momentum returns, FUD could challenge the resistance at $0.000000075. Breaking above this could pave the way for a rise to $0.00000010. Since dog-based meme coins often attract excessive and high interest, if the widespread interest in the SUI meme coin continues to increase, FUD may have a strong opportunity to expand its market presence.

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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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