Key takeaways:
-
Memecoins like Fartcoin, WIF, SPX6900, and Popcat are outperforming Bitcoin in the short term amid renewed crypto market euphoria.
-
Bullish technical patterns signal more upside for top-performing memecoins.
-
Popcat stands out with a potential 350% rally, while Fartcoin and WIF also eye significant gains in the coming weeks.
Bitcoin (BTC) has surged 7.35% over the past three days, hitting a new all-time high near $112,000 on May 22, but memecoins are stealing the spotlight.
Fueled by BTC’s rally, several high-risk tokens are posting even larger gains, stoking possibilities that they could continue to outperform Bitcoin as the crypto bull run accelerates.
Fartcoin ascending channel hints at more gains
Solana-based Fartcoin (FARTCOIN) memecoin has surged 30% in the last three days to hit $1.57 as of May 22, its highest level in the last four months.
The rally extends Fartcoin’s strong year-to-date (YTD) performance—up 74.50%—amid the ongoing memecoin frenzy. In comparison, Bitcoin has risen 18% so far in 2025.
Technically, Fartcoin is trading within a well-defined ascending channel that began forming in early March, suggesting sustained bullish momentum.
The memecoin has also broken above its 50-day exponential moving average (50-day EMA; the red wave), currently near $1.06, a key support level in uptrends.
FARTCOIN’s relative strength index (RSI) was hovering near 64 as of May 22, suggesting there is room to run before selling conditions emerge near the overbought threshold at 70.
If the uptrend holds, Fartcoin could retest the channel’s upper boundary near $2.74 by June, up 80% from the current price levels.
Dogwifhat price could double
Like FARTCOIN, Dogwifhat (WIF) has outperformed Bitcoin during the recent rally, up over 27% in the past three days. But the Solana memecoin has underperformed the top cryptocurrency year-to-date, down about 38%.
But a bull pennant formation may put Dogwifhat in a position to catch up in the coming weeks.
As of May 22, WIF’s price was testing the pennant’s upper trendline for a breakout, with its technical target at around $2.50, up about 125% from the current price levels.
The upside target aligns with the 0.5 Fibonacci retracement line, which has served as resistance during WIF’s consolidation phase between November 2024 and January 2025.
SPX6900 eyes 50% gains following breakout
Ethereum-based SPX6900 (SPX6900) has surged 35% in the last three days, paring its 2025 losses. It is, therefore, underperforming Bitcoin on a YTD timeframe but, like WIF, shows the potential of outperforming BTC this cycle in percentage terms.
At the core of this bullish outlook is SPX6900’s ongoing bullish reversal attempts. As of May 22, the memecoin had entered the breakout stage of its prevailing ascending triangle pattern, eyeing a rally toward $1.34 by June.
The upside target is up 50% from the current price levels, which was the resistance in January.
Popcat preps 350% rally setup
Solana’s Popcat (POPCAT) gained 30% during Bitcoin’s rally, reaching its record high, but it remains an underperformer YTD.
Related: Bitcoin ‘looks exhausted’ as next bear market yields $69K target
However, a convincing cup-and-handle formation on POPCAT’s daily chart increases its potential of outperforming Bitcoin in the coming weeks or months.
As of May 22, the memecoin was testing the pattern’s neckline at $0.57 for a breakout toward $2.50, up by over 350%. This target is obtained by adding the neckline—a potential breakout point—to the cup-and-handle’s maximum height.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
