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Meme Coins Rally as Raoul Pal Signals Start of ‘Banana Zone’
The cryptocurrency market is abuzz as prominent macro investor Raoul Pal reiterates his “Banana Zone” thesis, suggesting that crypto is entering a euphoric second phase of the bull cycle. Meme coins appear to be leading the charge, with $PEPE, $BONK, and $TRUMP posting double-digit gains on Thursday, raising the question: are these the first tokens to sprint into the Banana Zone?
According to technical charts, $PEPE is showing signs of a major breakout. After punching through a descending trendline and forming a higher high, the coin is now pressing against the key resistance level of $0.00000917. Technical indicators like the Stochastic RSI are trending upward, suggesting growing bullish momentum. Fibonacci analysis places the next price targets at $0.000010, $0.000014, $0.000017, $0.000019, and $0.000023, hinting at a steep upside path if $PEPE clears its current barrier.
Meanwhile, $BONK is staging a similar move, rising 10.6% and pushing back toward a confluence of resistance levels, including a crucial horizontal resistance and an ascending bull market trendline. With price action piercing through its downtrend line, bulls now face the task of overcoming multiple resistance layers to confirm a sustained rally. Fibonacci retracement levels from the recent swing suggest potential gains if the breakout holds.
The $TRUMP meme coin is also heating up. After breaching a descending trendline, the token is testing the critical resistance at $12.40. Bulls must drive the price past the swing high at $16.43 to officially break the bearish structure. Should this occur, upside targets include $17.73 and $24.53, according to key resistance levels mapped on the charts.
The confluence of these breakouts across high-profile meme coins appears to validate Pal’s Banana Zone hypothesis—a phase characterized by explosive market movements and heightened investor euphoria. With technical indicators aligning and sentiment strengthening, meme coins could be acting as early signals for a broader crypto breakout.
As Pal’s prediction gains traction, all eyes are on whether these meme tokens can maintain momentum and pull the wider market into the next chapter of this bullish cycle.