Why is crypto down? The meme coin market has tumbled a little lately, but is the bottom yet for meme coins? Find out here.
The popular meme coin on Solana, DogWifHat, WIF, is down 60% since its highs in March. Looking at the chart, we can see that the $1.6 level has previously been strong support for the coin. With the RSI(Relative Strength Index) around 30, it could indicate the bottom is close.
If RSI reaches below 30 in bull markets, it would be considered oversold, and you could start looking for a bounce.
(WIFUSDT)
But What About Solana Meme Coin Super Star BONK?
Another popular meme on Solana called Bonk, which gained massive momentum out of nowhere at the end of 2023 and rose astonishingly 165x in only 130 days, is also displaying signs that a bottom could be closer than we think.
We have a trendline with 3-4 touches formed. You usually consider at minimum 2 touches, but preferably 3 or more, before a trendline becomes relevant. Just like WIF, the RSI is close to 30, and it could consider one last push down to touch the trendline before bouncing.
(BONKUSDT)
How Are Things Looking Over on Coinbase’s Base Chain?
Brett on Base chain has been one of the strongest coins lately as well and is the biggest meme coin on Base.
It is down 30% from its all-time high and sits just above an area that recently acted as a support($0.126). We can gauge that as long as the price RSI is strong enough to remain above 50 and the price stays above $0.126, it’s likely we could see a new all-time high soon.
Losing this level would ultimately send it down towards $0.08411.
Dark-Horse of Q2: WeinerAI – The Presale You Don’t Want To Miss
Pushing both the meme and AI narratives, Weiner AI seeks to establish itself in the Crypto world with a combination of fun, innovation, and utility. Despite the funny appearance of this dog, the technology that powers it is no joke at all.
AI Enhanced Trading: a simple and intuitive interface for a noob-friendly trading experience.
The goal of the bot, which has zero fees, is to ensure a seamless trading experience by helping the user to find high-potential projects early, providing data, and giving the user the ability to swap directly through decentralized exchanges while protecting against MEV bots!
The presale has already raised almost $6 million and is preparing to move to the next phase, raising the current price of $0.000179 per $WAI.
Investors also have the opportunity to stake their coins, making their investments even more profitable.
More Wieners every day – Our WienerAI family is growing fast! 🐾
More holders = More excitement for our launch!
Ready to join the pack? 🌭🚀 pic.twitter.com/TPFpsjLGFX
— WienerAI (@WienerDogAI) June 13, 2024
If you’re a fan of memes and the increasingly prominent AI technology that’s flooding the crypto world, Weiner AI might be the right project for you.
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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.
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