Similar to the wider crypto market, most meme coins performed terribly throughout February. The drawdown witnessed by these meme tokens even led to some forming new all-time lows. However, there is an opportunity in this downtrend that is seemingly coming to an end.

BeInCrypto has analyzed five meme coins that could make their way back up and recover their losses in March.

Daddy Tate (DADDY)

DADDY has surprised the market this week with a 70% price increase, recovering February’s losses and more. The altcoin is currently trading at $0.054. This rally marks a shift in investor sentiment, potentially signaling further upside if the current momentum persists.

DADDY is now eyeing a further rally, potentially breaching the $0.068 resistance. This level has been a challenge for the meme coin since mid-December, but with bullish factors driving the price, it may finally break through. The continuation of this uptrend depends on sustained investor confidence.

However, if DADDY fails to hold the support of $0.054, the price may fall back to the $0.045 support level. A deeper decline could invalidate the bullish outlook, potentially triggering a shift in sentiment and setting the coin back further.

Pepe (PEPE)

PEPE continues its downtrend, trading at $0.00000718 after starting this decline in November 2024. The altcoin’s price remains under pressure, but the situation could shift. Notably, PEPE has a strong correlation of 0.89 with Bitcoin, potentially setting the stage for a recovery if BTC rebounds.

With Bitcoin potentially nearing a market bottom, PEPE could benefit from its recovery. If Bitcoin gains momentum, PEPE is likely to follow suit. A key marker for this would be PEPE flipping $0.00000951 into support and eventually surpassing the $0.00001146 resistance level, signaling further upside.

If the downtrend persists, PEPE faces the risk of falling below its $0.00000748 support. A breakdown through this level could lead to a test of $0.00000632, further invalidating the bullish thesis and signaling a deeper decline.

Popcat (POPCAT)

POPCAT has made a notable recovery, currently down just 9.5% over the month, trading at $0.265. The altcoin aims to breach the resistance of $0.342, with potential for further upside. A successful breakout could lead to significant gains, especially if market sentiment continues to improve.

In previous market cycles, a bounce off the $0.238 support, coupled with bullish signals, has fueled rallies up to $0.645. The ADX currently sits below the 25.0 threshold, indicating weakening bearish momentum.

If POPCAT follows a similar pattern, this shift could set the stage for a 129% rise.

However, if POPCAT fails to breach $0.342, it may return to its support levels at $0.238 or even $0.203. Such a drop would invalidate the bullish outlook, signaling continued consolidation or further losses.

Peanut The Squirrel (PNUT)

Another one of the top meme coins, PNUT, has outperformed expectations with a 56% rally this week, reaching $0.226 and erasing February’s losses. The altcoin is now focusing on securing $0.227 as a stable support level. Maintaining this level will be crucial for continued upward momentum and price stability in the short term.

With $0.227 successfully established as support, PNUT could leverage the improving market conditions and investor confidence to rise toward $0.442. This recovery would significantly offset the losses suffered in January, potentially positioning the altcoin for further gains if market trends remain favorable.

However, if PNUT fails to secure the $0.227 support floor, the altcoin risks falling back to $0.142. Such a decline would invalidate the bullish outlook, prompting further consolidation and raising concerns over a sustained recovery.

Pudgy Penguins (PENGU)

PENGU hit a market bottom in February, forming a new all-time low of $0.0067 amid bearish conditions. Despite this, the altcoin has shown resilience and could be preparing for a potential rebound.

After bouncing back by 24.6% this week, PENGU is currently trading at $0.0090 and targeting a breach of the $0.0100 level. If this resistance is overcome and flipped into support, the altcoin could reach $0.0147. This would help recover most of February’s losses, signaling a positive outlook.

However, if PENGU fails to break the $0.0100 barrier, it risks consolidating above its all-time low of $0.0067. In this case, the bullish thesis would be invalidated, potentially leading to further losses and undermining investor confidence in the short term.