This Week in Meme Coins: BRETT Shows Resilience While TRUMP and GOAT Struggle

The cryptocurrency market wrapped up a tumultuous week, primarily influenced by the trends surrounding Bitcoin. Many altcoins, particularly meme coins, faced substantial losses, with some drawing closer to their previous all-time lows.

We delve into three notable meme coins to illustrate the varying impacts of the current market downturn. Some experienced significant drops, while others displayed minor fluctuations.

Brett (BRETT)

In the past week, BRETT saw a 9% increase before experiencing a sharp correction, leaving it currently priced at $0.0379—below the local resistance level of $0.0429. The overall bearish market sentiment has made it challenging for this meme coin to gain traction.

Despite these hurdles, there remains potential for BRETT to surpass the resistance level if interest continues to sustain. The goal for BRETT is to overcome the $0.0478 mark and convert it into a support level following a 17% gain. Previous attempts to breach this threshold have not yielded success over the past month.

Should BRETT manage to establish $0.0478 as support, it could pave the way for further advancements, potentially pushing its value over $0.0500.

Conversely, failure to break past the $0.0429 resistance might see BRETT retrace to $0.0372. Falling beneath this support could undermine the current positive outlook, with further declines targeting $0.0348.

Goatseus Maximus (GOAT)

GOAT has been on a steady downward trend since the year's start, currently trading at $0.0634. This ongoing decline has wiped out nearly all prior gains. As with BRETT, adverse market conditions have hindered GOAT's ability to garner upward momentum.

Presently, GOAT hovers just above its all-time low (ATL) of $0.0601, suffering a significant 37% drop in the last week. If the unfavorable market climate persists, the altcoin may plunge below the $0.0600 mark, establishing a new ATL and compounding its losses.

However, should bullish investors step in or there be a shift in market sentiment, GOAT might have the opportunity to rebound. The meme coin's target would then be set at $0.1104. If it successfully breaks through this resistance, it could alter the bearish narrative and initiate a recovery.

OFFICIAL TRUMP (TRUMP)

TRUMP experienced an initial spike to $13.11 this week before receding to $12.28 by Friday. Notably, it has managed to remain above a key support level of $12.10, suggesting some stabilization amid market fluctuations.

This critical support level plays a significant role in the price's movement.

Although TRUMP reached an intra-week peak of $17.14, it struggles to maintain its upward momentum amid a prevailing downtrend influenced by broader bearish market conditions.

Looking ahead, TRUMP is likely to consolidate within a range of $17.14 to $12.41, marking significant resistance and support points.

The outlook remains neutral unless TRUMP falls below $12.41, which could lead to a potential drop towards its all-time low (ATL) of $11.07, indicating a deeper bearish trend.

The meme coin sector had a mixed week, with BRETT experiencing modest gains, TRUMP maintaining critical support, and GOAT struggling near its all-time low amid ongoing market volatility.