Memecoins
Top Solana-Based Memecoins Will Double in July!
THE Solana price has shown increased price volatility on its chart since the start of the week, indicating increased buying and selling pressure for the altcoin in the cryptocurrency market.
With this, the major Solana-based memecoins have successfully regained momentum. Top SOL tokens such as Dogwifhat (WIF), Bonk (BONK), and BOOK OF MEME (BOME) have each added over 20% to their respective valuations this week.
Let’s go, as in this article we have covered the top 3 SOL-based memecoins that have a high potential to witness a significant increase in their respective portfolio during the next month.
Dogwifhat (WIF):
THE WIF price has formed a descending channel pattern and has been trading there consistently since early June. However, the memecoin successfully retested its support trend line and has since shown bullish price action.
TradingView: WIF/USDT
Dogwifhat price added 8.80% to its portfolio in the last day with a change of -28.92% in its trading volume. Furthermore, memecoin has risen by around 40% this week, indicating growing bullish sentiment for the WIF token in the cryptocurrency market.
The technical indicator, MACD, is recording a steady decline in the red histogram with its averages showing potential bullish convergence. Furthermore, the SMA indicator underwent a positive crossover in the 1D time frame, indicating that dogwifche price will continue to acquire value.
If the bulls push the WIF coin price above the $2.10 resistance level, the memecoin will prepare to break its resistance trendline and head towards its high of $3,050. However, a bearish reversal could take the dogwifhat cryptocurrency towards its low of $1,240.
Bon (BONK):
With increased price volatility in the cryptocurrency market, the VERY GOOD price has shown a steady decline in its price since the beginning of the month. This led to the memecoin forming a triangular pattern in its price chart. On the positive side, the BONK token is on the verge of testing its resistance trendline.
TradingView: BONK/USDT
After recording a 40.12% correction in valuation over the last 30 days, the Memecoin BONK it gained 2.25% in the last day and 5.83% in the last seven days. Furthermore, with a market capitalization of $1.55 billion, Bonk’s price is the second most successful memecoin in the Solana chain.
The Relative Strength Index (RSI) recorded a sharp increase on its chart after testing its oversold range. Furthermore, the average has successfully experienced bullish convergence. On the other hand, the SMA indicator highlights increased buying pressure for the memecoin in the market.
If the BONK price breaks out of its trendline resistance, the bulls will regain momentum and head towards the upper resistance level of $0.00003390 in the coming weeks. On the contrary, if the bears regain control over the bulls, the BONK coin price will plummet towards the low of $0.0000150.
BOOK OF MEMES (BOME):
Despite seeing a 7.78% increase in valuation over the past seven days, BOOK OF MEME price continues to trade within a closed range of $0.007525 to $0.011080. This indicates long-term bearish sentiment for memecoin in the crypto space.
TradingView: BOME/USDT
The Moving Average Convergence and Divergence (MACD) has seen a bullish increase with its averages showing bullish convergence on the 1D time frame. This indicates an increase in buying/selling pressure for memecoin in the cryptocurrency market.
However, the technical indicator, RSI, is showing bearish action below its midpoint, highlighting uncertainty for the price of MEME BOOK in the coming period.
If the market moves under the influence of bulls, the BOME price will prepare to test its upper resistance level of $0.0151 in the next month. Conversely, if the bulls fail to gain momentum, the memecoin will head towards its crucial support level of $0.007525.