Maneki Coin Price Prediction: Could it be the next best 50X memecoin?

• Maneki coin could be the next hidden memecoin gem hence we are exploring its potential.
• It is a memecoin with cultural significance rooted in Japanese tradition.
• Initial first two months of existence indicate healthy outlook.

If you are hunting for a memecoin that has potential for a robust performance, the Maneki coin could be a great candidate. Let’s dive in and look into what Maneki is, its cultural significant, historic price performance and potential price action.

Although Maneki coin is a memecoin, its mascot is rooted in Japanese culture. If you have ever traveled to Japan or seen a Japanese flick, chances you have seen a waving or beckoning inanimate cat somewhere on a counter. That is the Maneki-neko figurine which translates into welcoming or beckoning cat. The Maneki coin is based on this cat.

Maneki coin market analysis

The Maneki coin is a Solana-based memecoin that has been around since the tail end of April 2024. It had a marketcap of $68.3 billion at the time of writing, with 8.42 billion coins in circulation. Its total supply is 8.8 billion tokens which means any token vesting will not have a significant impact on price.

Maneki coin’s marketcap is still relatively low compared to some of the top memecoins such as PEPE or Dogecoin which have soaked up billions worth of liquidity so far. But does Maneki have what it takes to get there? Perhaps its technical analysis could offer some insights.

Maneki coin technical analysis

Maneki trading data goes back to 23 April during which it traded as low as $0.008 and it peaked at $0.028 two days later. This was followed by a pullback to its current historic low of $0.0044 on 12 May. We observed another rally attempt from its historic low in the second half of May, resulting in a 324% gain, followed by another pullback.

Maneki coin short-term and long term price prediction

Maneki price analysis reveals some interesting observations about the coin. It may not have been around for long considering its April launch price. However, it has so far bounced off at key levels and is showing support significantly above its historic high.

The price chart above reveals that Maneki bears are running out of momentum after being in control for most of June. The contracting Bollinger bands indicate a potential price pivot. The RSI also highlights a similar observation with its recent pivot, suggesting the likelihood of a relief bull run.

As far as predictions are concerned, Maneki coin could deliver a 100% upside in July if the price pushes towards the highs observed towards the end of May. This would target price levels above $0.0162. Short term resistance could be observed at the $0.0126 price level which is a 55% gain from the current price level.

As far as long-term price prediction is concerned, Maneki could aim even higher considering that it is still in its early stages. In the event of a strong bull run, this memecoin has potential to do a 50X or more. But what would that look like? According to our calculations, a 50X price gain would require Maneki coin to have a $3.41 billion marketcap.

Conclusion on Maneki coin

The fact that Maneki has already achieved a historic all-time low and bounced back is already a healthy sign of demand after its initial hype. Also, it managed to stay above its historic high during the latest FUD phase in June, and it is now looking bullish.

A short-term rally could deliver as much as 100% upside. Meanwhile, a 50X long-term gain is highly probable considering that rivals such as PEPE have easily surpassed the marketcap that Maneki coin would require to do a 50X profits from its current price level. Also, its potential is not only backed by its memecoin factor but also its cultural significance. As always, this is not financial advice and we always advise doing your own research before aping into any coin.

Also read about Big Eyes Coin Price Prediction