PEPE, WIF, BONK, BOME and FLOKI crash hard

Starting the week’s trade on a bearish note, Bitcoin lost one of its important supports at $63,500, which pushed the price below $62,500. This move caused the memecoin space to lose over 5% of its market capitalization while trading volume increased by over 18% in the last 24 hours. With this, the top 10 memecoins suffered a double-digit loss, including PEPE, WIF, FLOKI, BONK, and BOME. Now that market sentiment has turned bearish, here’s what to expect from memecoins by the end of the month.

Pepper (PEPPER)

• PEPE has fallen below the support it has held for almost a week, suggesting the start of a new bearish period

• After failing to resist 0.618 FIB, the price is expected to fall below 0.5 FIB as selling pressure increases

• The RSI is heading towards lows, while the MACD turns bearish again after fighting sellers for almost a week

• Therefore, the current commercial structure suggests the Price PEPPER it could lose key support at $0.00001 at any time, dragging levels below $0.000009 by the end of the month.

dogwifhat (WIF)

• WIF price was trading within a parallel channel, holding the upper and lower bands despite growing bullish and bearish forces on the token

• Since the selling pressure intensified, the price has maintained a strong downtrend and reached the last defense point

• The collapse of the OBV and rising DMI levels after a bearish crossover suggest that the price could reach levels close to $1.2

• Furthermore, the rising ADX, indicating the increasing strength of the rally in a bearish environment, may force the token to form new lows very soon.

FLOKI (FLOKI)

• FLOKI experienced a huge pullback, but levels remain under bullish influence as price trades above fundamental support

• The OBV remains unchanged regardless of the price change, suggesting that the bulls have had broad dominance

• The MACD shows a decline in selling pressure, which could pave the way for a healthy and sustained rebound later this week

• therefore, the FLOKI price it is believed that it will break down, test the support zone at $0.00014 and $0.00013 and trigger a rebound to recover the lost levels.

BONK & BOME prices also showed a similar trading pattern with a decline in selling pressure. Therefore, apart from the top memecoins such as DOGE & SHIB, PEPE & FLOKI, the newly launched tokens seem to have attracted a lot of attention and, as a result, may soon start a new bullish period.

Fuente