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Confirmed Chart Pattern Says 3 Memecoins Are Poised for Bullish Breakouts in May: $PEPE, $BONK and $GFOX

Disclaimer: The text below is an advertorial article that is not part of Cryptonews.com editorial content.

Chart patterns
The early days of this bull market undoubtedly belonged to memecoins, with the likes of BONK, Shib, Pepe and Floki outpacing $BTC and most other altcoin gains by a wide margin. Memes remained at fever-pitch until around March of this year, when they suddenly fell flat as the market could no longer sustain its momentum.

But while it may appear that memes have lost their mojo, the reality is that those with lasting power entered a much-needed accumulation zone – which if you zoom out a bit on the technical charts, resembles a 3-month long flatline.

Recently, however, signs have emerged that something is brewing just beneath the surface, and a bullish break-out may be imminent. Like the rumblings before an earthquake, the “inverted head-and-shoulders” patterns are pointing to a big price move for 3 of the top memecoins: Pepe, Bonk and $GFOX.

Let’s take a deeper look at why these three coins are the best crypto to buy in May.

$GFOX – GameFi Utility Meme with Huge Untapped Potential

One of the clear trends of the 2023/24 bull market is that newer, low-cap coins are where the action is. While $BTC remains the barometer for the general direction of the market, it’s the low-cap, recently launched projects that really see the big moves – especially in the memecoin sector. When $BTC pumps, low-cap memes pump exponentially harder. This makes newcomer $GFOX perfectly poised to skyrocket once $BTC confirms its next break-out phase.

Combined with GameFi, NFT and staking utility, as well as sound tokenomics, $GFOX is basically a rocket ship with a lit fuse. When this coin takes off, it will likely move fast and furiously to the upside, grabbing headlines that will act like a positive feedback loop, pushing it even higher – with potential gains of 100X or more. But the time to catch the move is now, before the hype kicks in.

The integration of a web3 game with a memecoin like Galaxy Fox offers a fresh perspective in the crypto gaming space, giving it a unique narrative in a sector drowning in cheap knock-off coins with zero utility. Blending memecoin culture with a genuine gaming experience based on blockchain technology, Galaxy Fox already has already proven itself as a serious contender with a successful ICO presale prior to its launch on Uniswap, raising over $6 million.

$PEPE Inverted Head & Shoulders Pattern Emerges on Daily Chart

One of the biggest signals that a memecoin reversal break-out is near is the confirmed formation of an inverted head & shoulders pattern on the daily charts for both $PEPE and $BONK. An upside-down version of one of the most accurate trading signals in technical analysis, the inverted head & shoulders pattern is now clearly visible on technical charts.

The pattern has an impressive 85% historical accuracy rate. This, paired with cooler CPI inflation numbers, signaling possible rate cuts in the near future, could be the perfect catalyst to the start of another meme season. The other wild card being the return of GameStop legend Roaring Kitty, which has renewed interest in meme-related stocks and cryptos.

After three months of consolidation, the emergence of this pattern has definitely put memecoins back on the radars of risk-on traders looking for the kind of returns that only memes can achieve. The long consolidation period has built up a strong price support level, creating a solid support for price as $PEPE is likely to soon surpass its previous ATH of $0.0001151, set on May 15, and head into price discovery.

Pepe

$BONK Pattern Points to 100% Upside Target

A very similar pattern is also seen on the charts for $BONK, which was the best crypto to buy in the latter part of 2023, posting insane gains that helped catapult Solana into the hottest blockchain in the world and rewarded $SOL holders triple-digit gains. $BONK peaked on March 5, 2024 then proceeded to fall by a whopping 72% before finding a bottom in mid-April. Since then, $BONK has staged an impressive comeback, showing lasting interest in the project. It now appears ready to take the next leg up as the meme sector shows signs of recovery.

Bonk

Conclusion

When the next memecoin move comes, it’s likely to come fast – so investors looking to front-run the next stage of memecoin mania should take note and be ready. Coins like $PEPE, $BONK and $GFOX are now in heavy accumulation zones, so investors should begin to dollar-cost average (DCA) and watch support levels closely for break-out confirmations. Once the move is confirmed, heavy buying in the early stages is suggested, as price is likely to move extremely fast. $GFOX is now trading on Uniswap. For more information, check out the links below.

Learn more about $GFOX here:

Visit Galaxy Fox Presale | Join the Community

Disclaimer: The text above is an advertorial article that is not part of Cryptonews.com editorial content.