The cryptocurrency market has seen a surge in interest in memecoins, which have delivered impressive returns to investors. Among these, PEPE, SHIB, and WIF have gained significant attention and rewarded their investors since the beginning of 2024. Despite the recent market correction, these top memecoins continue to show a bullish trend.

Some memecoins have experienced a significant bull run, prompting investors to book partial profits. However, there is still significant upside potential, and investors can seize these must-buy picks. PEPE, in particular, has retested its 100-day EMA mark and may initiate a pullback ahead.

PEPE's price has dropped by 7.74% intraday, reflecting profit booking in yesterday's session. The memecoin has regressed to the liquidity support zone and may rebound soon. Meanwhile, SHIB has regressed toward its crucial support zone of the 200-day EMA mark and is likely to initiate a bounce soon. The trend is neutral, and the memecoin is looking for a notable bounce to flip the gains ahead.

At press time, the SHIB price traded at $0.0000186 with an intraday drop of 8.04%, reflecting retracement in yesterday's session. However, it has retested the 200-day EMA mark, and the bulls will likely accumulate the memecoin soon. The memecoin's burn rate has spiked by 12,842%, according to a tweet by @Lola, who believes that SHIB is primed for a rebound if it is used as a gas on a big chain.