Bitcoin’s fall had a huge impact on several meme coins, such as BONK, WIF, and PEPE. Will these meme coins recover? Let’s have a look.
Yesterday, Bitcoin fell below $60k to $58,845, a price it had not reached since May 1st of this year. Subsequently, several meme coins plummeted further after days of continuous bleeding in price and volume.
In the last few hours, however, these meme coins have bounced up, with $BONK regaining +15% from the bottom, $PEPE +10%, and $WIF +19%.
Could this be the beginning of a recovery for these memes? Let’s take a look.
$BRETT is about to flip one of the biggest MEME coins in the world
Probably nothing 😉 pic.twitter.com/infpr3R3te
— OverDose (@Overdose_AI) June 25, 2024
BONK Price Analysis: How’s Solana’s Favorite Meme Shaping Up?
Bonk’s price is $0.000022 today with a current market cap of $1.54 billions and a 24-hour trading volume of $304 millions.
(BONKUSDT)
The RSI indicates that BONK is approaching overbought territory. The RSI fluctuated between 40 and 70, briefly entering overbought territory (above 70) during the price surge mid-month.
Ideally, if you are below 30 RSI, it’s considered oversold. If it’s above 70, it is overbought. Below 30, you want to look for entries. Above 70, you want to look for exits. If it can remain above 70, it shows strength, and you can consider to hold it.
If it remains below 30, that means it’s showing weakness. The $0.00002 level looks like strong support, and $0.000029 is the first major resistance, with the price struggling to break this level.
WIF Price Analysis: Is DogWifHat Set to Capitulate?
Dogwifhat is currently $1.92 per WIF and a market cap of $1.92B. 24-hour trading volume is $710 million, and it performed +19% in the last 24 hours.
(WIFUSDT)
RSI (Relative Strength Index) fluctuated between 35 and 75, briefly entering overbought territory (above 70) and currently being around 58.
In the last month, WIF has been down -60% going from $4 to $1.55 at its low. The recent bounce back might be a signal that WIF was in an oversold zone, and investors might have decided that this is a good buy opportunity.
PEPE Price Analysis: Top Frog Token Shows Resilience
Similar to the other two meme coins, PEPE is also experiencing a modest bounce, with a +12% increase in the last 24 hours and a trading volume of $840 million.
(PEPEUSDT)
Pepe’s price just crossed the 50-day simple moving average (SMA), which has been acting as resistance for a while, making it a bullish indicator for investors. The RSI value indicates a slightly bullish momentum for Pepe suggesting a good buy opportunity.
The volatility of meme coins makes it difficult to really catch the perfect moment, but these meme coins have already demonstrated a certain resilience in the past while awaiting favorable conditions dictated by Bitcoin.
A New Base Meme Coin With Huge Potential: Base Dawgz
Base Dawgz is a Base meme coin that will launch simultaneously in multiple other blockchains. $Dawgz will also trade on ETH, SOL, BSC, and AVAX, making it possible to trade Dawgz seamlessly across multiple blockchains thanks to technologies like Wormhole and Portal Bridge.
Base Dawgz Presale: What Is Next?
With more than $2 million raised in less than a month, Dawgz’s presale keeps the interest high among investors. In this phase, the price is currently $0.005534 per coin before the next increase.
Dawgz’s Airdrop Campaign: Share-To-Earn
Dawgz’s Team devised a fun way to reward the community: share-to-earn. You must connect your X account, create memes and other content about Base Dawgz, and share them. Doing so will make you earn points that you can redeem for $DAWGZ tokens after the presale is complete.
Not just one way to earn more with Dawgz: it will also offer staking opportunities for holders, with the Teams allocating 20% of the supply for this purpose.
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Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
