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Start February with renewed impetus for the meme as speculative appetite returns to the market. The new launches, the strong growth of communities and the aggressive price action have attracted the attention of investors to put some coins in the spotlight.
BeInCrypto has provided an analysis of three meme coins that investors should keep an eye on during the first week of February.
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BUTCOIN
BUTTCOIN has been one of the best Meme coins run this weekattract strong speculative interest. The recently launched coin has already attracted more than 10,000 holders. At the time of writing, BUTTCOIN is trading near $0.0213, reflecting rapid adoption and increased short-term demand.
Detect the report About the rise of the meme coin by 259% in the last seven days, to record an all-time high of $0.0292. While the price discovery process continues, BUTTCOIN is facing limited technical resistance. This structure supports a continuation of the uptrend, as consistent momentum traders often push prices higher during the early stages of an expansion.
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The downside risk focuses on the profit behavior. Early investors may choose to lock in their gains after the strong growth. If the selling pressure increases, BUTTCOIN could fall below the $0.0187 support. A deeper correction towards $0.0125 will invalidate the bullish thesis and signal the exhaustion of momentum.
WHITE WHALE
WHITEWHALE emerged as a currency Small meme with pioneering valuewhich has increased by 114% in the past week despite the recent controversy. The coin is consolidating after the uptrend, and is trading in a range between $0.099 and $0.070. This pause reflects the slowing of momentum after strong speculative flows.
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The consolidation phase may indicate a reset rather than exhaustion. The Money Flow Index remains high, indicating that buying pressure remains strong. Sustained demand could allow WHITEWHALE to break the $0.099 level.
A confirmed breakout offers the possibility of a move towards $0.123 and possibly higher levels.
Remember that downside risks remain if sentiment changes. If buying pressure fades and selling accelerates, WHITEWHALE may lose the $0.070 support. This decline will reveal lower targets near $0.048 or even $0.038. Such a move will invalidate the bullish hypothesis and extend the correction.
EGL1 (EGL1)
It shows that EGL1 has remained in a stable trend for the past three weeks, trading near $0.044 at the time of writing this article. This meme currency Supported by over 55,000 carriers. This expansion of the owner base has helped maintain demand and fuels continue the upside momentum for EGL1.
Show that the trend indicators favor more rises. The Parabolic SAR remained below the price, confirming the current upward trend. This signal indicates that the bullish momentum still has room to continue. If the buying pressure continues, EGL1 could continue to gain and try to move towards the $0.053 level in the next term.
Advise caution despite the bullish structure. A rising wedge forms on the chart, a pattern often associated with reversals. If EGL1 breaks below the $0.038 support, selling pressure may accelerate. A decline towards $0.030 would confirm the bearish breakout and cancel the bullish hypothesis.
