After an intense run to $125 million market cap, Moonpig is hitting a wall. After its recent ATH, the price corrected over 65%. A recovery was attempted but Moonpig is now back to $54.69 million market cap, after bouncing from the support. Are investors rotating into AI narratives?
To recap, Moonpig is a relatively new memecoin built on the Solana blockchain, launched through Pump.fun. It has a total supply of 1 billion tokens. The price is down 62% from its peak, but on socials, the sentiment remains overall bullish amid the launch of an app store game.
The official #moonpig game is launching on the @Apple App Store today! 🚀
Stay tuned for more details 🌕🐷❤️ pic.twitter.com/a5SANeypAc
— moonpig (@moonpigmeme) May 28, 2025
The sharp price drop appears linked to James Wynn, Moonpig’s top influencer and whale, who sold a large holding, causing visible frustration in the community.
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Is Moonpig Done? Or Will It Surge Back Up Despite The Discontent Among Holders?
Currently, the price appears to be testing a support zone near $51 – $55 million, which also acted as resistance during the initial rally. If this level holds, we may see a short-term bounce. However, continued high-volume sell pressure suggests market confidence is shaky.
The chart also shows a series of lower highs, hinting at a possible downtrend forming unless bulls reclaim levels above $80 million. A breakdown below $51 million could open the door to deeper losses, possibly toward the $40 million range or lower.
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Key Takeaways
- Huge Sell-Off And Rapid Decline: Moonpig meme coin saw a major price crash after peaking above $120 million market cap. And the community is upset.
- Investor Exit: Whales and early buyers appear to be exiting positions, increasing volatility and eroding trust. Its biggest influencer, James Wynn, sold a huge bag.
- Hype-Driven Limits: Lack of core utility has led many to reassess Moonpig’s long-term potential.
- Shift Toward New Memecoins: Traders are eyeing emerging opportunities like the new memecoin MIND of Pepe. Its presale, which has already raised over $10.8 million, is entering its final 2 days, offering a last chance for early access before exchange listings.
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