Market Direction

Price prediction today: WIF, POPCAT, TREMP

Updated: Nov 8, 2024

Published: Aug 1, 2024

Here's your insider's guide to managing your memecoin portfolio as we provide guidance on WIF, POPCAT, and TREMP.

We analysed the key support levels, resistance points, and market sentiment that could make or break these coins.

As usual, we're not just giving you numbers-we're providing actionable insights that could be the difference between riding the next wave and getting left behind.

Are you ready to peek behind the curtain and discover what might be in store for thrilling three?

Let's dive in.

Key questions

Curious about our specific entry points, exit targets, and strategic approaches for WIF, POPCAT, and TREMP?
Is WIF setting up for a potential short squeeze? Find out why the current funding rate and price action could lead to an explosive move.
What key price levels should you watch for POPCAT, and how might upcoming economic events impact its trajectory?
Could TREMP be the dark horse of the US presidential election cycle? Discover our analysis of its current value proposition and future potential.

Disclaimer: This is not financial or investment advice. You are responsible for any capital-related decisions you make, and only you are accountable for the results. "One Glance" by Cryptonary sometimes uses the RR trading tool to help you quickly understand our analysis. These are not signals, and they are not financial advice.

WIF

WIF's current Funding Rate is negative, meaning that traders are paying a premium to be Short. This can become a dangerous setup if the Open Interest increases, possibly resulting in a Short squeeze. We're not at this point just yet, though.
On the recent price pullback, a potential landing zone for price would have been the horizontal support of $2.20.
Price was unable to find support at the local level and has now dropped to test $2.00. However, the major horizontal support is at $1.61.
If the price were to pull back to the $1.60 to $1.80 range, the RSI would likely be in oversold territory, providing an attractive opportunity for a buy.
On the upside, the key short-term level to reclaim is $2.20. Beyond that, it's $3.05.

For an in-depth look at market performance, see our analysis on dogwifhat (WIF).

Cryptonary's take

WIF remains one of our picks for this cycle; therefore, it's a coin to which we'd continue to look to add exposure. The value territory for WIF is between $1.60 and $1.80, and that's where we'd be strong bidders if WIF were to get that low. Overall, we remain constructive on the market and look to add to what we believe will be the cycle winners. We see WIF as one of those.

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Disclaimer: This is not financial or investment advice. You are responsible for any capital-related decisions you make, and only you are accountable for the results. "One Glance" by Cryptonary sometimes uses the RR trading tool to help you quickly understand our analysis. These are not signals, and they are not financial advice.

POPCAT

Having rejected from the psychological level of $1.00, POPCAT has now pulled back to the local uptrend line, where it has found some support.
At $0.65, price has also pulled back to the region that is retesting the last major price highs.
Beneath $0.65, the key horizontal level we have outlined for a long while is at $0.55.
Therefore, between $0.55 and $0.65 is likely to act as a zone of support and liquidity for bidders to step in.
On the upside, the local resistance is around $0.76, with the major resistance being $1.00.
The RSI has been substantially reset on this pullback; however, it's not close to oversold territory yet.

Cryptonary's take

POPCAT is another of our chosen plays for this cycle. We like POPCAT for bidding between $0.55 and $0.65. We would be surprised to see it fall below $0.55, but if it did, we'd bid more aggressively in this area.

Ultimately, it's going to take more time for all the memes to see more substantial upside, likely when we move closer to Interest Rate cuts and the conflict in the Middle East mellows. We still maintain our longer-term targets for POPCAT at well north of $1, with $3-5 as being relatively comfortably achievable this cycle.

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Disclaimer: This is not financial or investment advice. You are responsible for any capital-related decisions you make, and only you are accountable for the results. "One Glance" by Cryptonary sometimes uses the RR trading tool to help you quickly understand our analysis. These are not signals, and they are not financial advice.

TREMP

As we predicted last week, TREMP has broken below the horizontal support of $0.40 and is headed lower to the next key horizontal level, $0.27.
With TREMP approaching $0.27, we see TREMP as having moved closer to value territory, if it's not arguably already there.
At current prices, and if price reaches $0.27, we would be buyers of TREMP in this area, while we'd bid more aggressively if price fell below $0.27.
To the upside, the main horizontal resistance for now is $0.64.
We note that volumes have been declining, and for prices to move more strongly to the upside, we'll need these volumes to increase.

Cryptonary's take

We still like TREMP as a play going into the US presidential elections. Price-wise, we see TREMP in good value territory, particularly if it gets closer to $0.27. If it moves slightly below that, we'll bid more aggressively.

In a month or two's time, we would expect there to be more excitement around the US Presidential Election, and when Interest Rate cuts come in September, we expect more of the narrative to move onto the Presidential race and, therefore, bring more attention to TREMP. This play is about getting in now, when there's not much attention on it, and looking to sell in a few months' time as we approach the US Presidential Election. Our sell targets would initially be $0.91, but we could achieve higher if we see more momentum.

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