Key Takeaways

• CAR (Central African Republic) has seen a 103% rally, fueled by government support and a real-world land tokenization plan.

• DADDY (Daddy Tate) is riding on community hype and Andrew Tate’s Real World 2.0 platform announcement.

• SPX (SPX6900) is bucking the bearish trend with strong MACD momentum and is on track to breach the $1 mark.

• Meme coin market volume remains up 5% month-over-month, despite recent pullbacks.

• Technical indicators like CMF, BoP, and MACD suggest continued bullish potential for these three tokens.

Meme Coin Trading Volume Up Despite Pullback

As the broader crypto market experiences a downturn, many top-performing meme tokens have pulled back in recent days. Still, investor interest hasn’t disappeared completely.

In fact, the market’s trading volume is up 5% over the last month. This steady demand suggests that speculative energy remains in the space, just with more selectivity.

Central African Republic (CAR)

One of the standout meme coins showing signs of continued momentum is Central African Republic (CAR), a token officially backed by the African nation itself.

The Central African Republic Announcing The CAR Token

Source: carmemecoin.com

CAR Token Gains From Real-World Adoption

In May, CAR’s trajectory was significantly boosted when the nation’s president announced a government-led initiative to tokenize 1,700 hectares of land using CAR.

As a result, CAR surged an eye-catching 103% over the past week. At the time of writing, it trades around $0.047 and appears poised to challenge the $0.059 resistance level.

Strong CMF Points to Bullish Continuation

CAR’s Chaikin Money Flow (CMF), a technical indicator that measures buying and selling pressure, is currently sitting at 0.17, firmly in positive territory. Readings above 0.10 generally indicate strong buying pressure.

If this trend persists, the CAR could break out above $0.059 and aim for a short-term target of $0.074.

On the flip side, should profit-taking intensify, CAR could slide down to its next key support at $0.0345.

Daddy Tate (DADDY)

Next on our radar is Daddy Tate (DADDY), a meme coin closely associated with controversial influencer Andrew Tate.

Tate’s App Announcement Drives Demand

Earlier this week, Andrew Tate revealed plans to launch Real World 2.0, a new version of his online education platform. A built-in crypto wallet with planned functionality for the DADDY token will also be part of the platform.

The Real World 2.0’s Key Details

Source: X (@jointrw_)

That announcement helped DADDY gain 14% over the last seven days, with the current trading price hovering around $0.039.

However, a resurgence in selling pressure could see DADDY correct back to $0.029, a key support level from earlier this month.

SPX6900 (SPX)

While most of the market has slowed down, SPX6900 (SPX) has defied the trend with steady gains.

SPX Sees Double-Digit Growth Amid Downturn

Over the past week, SPX is up 11%, with current price levels near $0.95. Its price action has been underpinned by bullish sentiment visible in key technical indicators.

MACD Signals Strong Uptrend

The Moving Average Convergence Divergence (MACD) on the daily chart shows the MACD line (blue) clearly above the signal line (orange), a classic bullish crossover. Traders often interpret this as a signal that the asset’s upward momentum will continue.

With this technical setup in place, SPX could push past the $1.00 resistance level and rally toward $1.21.

FAQ

What is a meme coin?

Meme coins are cryptocurrencies that often start as jokes or internet memes but can gain significant popularity and market value. Examples include Dogecoin, Shiba Inu, and newer entrants like DADDY and CAR.

Is CAR government-backed?

Yes, CAR has formal backing from the Central African Republic.

Are meme coins a good investment?

Meme coins are highly volatile and speculative. They can generate rapid gains but also sharp losses. It’s important to do your own research and understand the risks.