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Bonk & Daddy Tokens Crash as Solana-Based Memecoins Stumble Again!
With Bitcoin price failing to reclaim the $60,000 milestone, the cryptocurrency space continues to see bearish price action. Furthermore, the Price Solana repeatedly failed to hold its value above the $140 mark for the eighth consecutive day, highlighting a strong selling point at that level.
Subsequently, SOL-based altcoins experienced a similar trend showing significant corrections in their respective portfolios. Also, major Solana-based memecoins saw the highest losses with some memecoins showing double-digit declines.
Bonk Price fails to break above its important resistance level:
THE BONK Price successfully retested its crucial support trendline, following which this memecoin has been on a positive uptrend for three consecutive days adding 35.67% during this period. However, it failed to break out of its resistance trendline, resulting in a bearish reversal.
TradingView: BONK/USDT
In particular, the BONK coin price has dropped by 11.03% over the past day, with a trading volume of $318.719 million. This has further caused this memecoin to lose its 4th place to Dogwifhat which has a market cap of $1.574 billion. Bonk mememcoin has a market cap of $1.573 billion.
The RSI and MACD technical indicators have recorded a strong bearish curve on their respective charts, suggesting an increase in negative influence within the cryptocurrency space.
If bears continue to dominate the market, Bonk cryptocurrency will prepare to test its crucial support level of $0.00002125. However, a bullish reversal could lead Bonk price to head towards its resistance of $0.0000270.
Dad Tate (DAD):
Built on the Solan chain, Andrew Tate’s “DADDY” token has gained significant attention from the cryptocurrency market after its listing. Launched on June 9, it has rewarded its early investors with a return of +85.08%. The project primarily aims to provide education and cryptocurrency investment with its native token.
Amidst increased price volatility in the cryptocurrency space, DADDY price has seen a correction of over 15% in valuation over the past day with a trading volume of $10.655 million, a jump of around 46%. Notably, this altcoin is currently trading at a discount of 54.55% from its ATH.