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Meme coins, which have been battered recently, were some of the best-performing coins on Tuesday as investors focused on the upcoming Fed minutes and Jackson Hole meeting in the United States. Brett, the top token in Base Blockchain, surged by over 24% while Dogwifhat (WIF), Floki, and Pepe soared by double digits.
BONK price plunged 1.6% to $0.000019 on Monday, bucking the general uptick in the broader crypto market. While the Bitcoin attempt to regain $60000 has uplifted most of the major altcoins, the meme cryptocurrency sector struggle follows.
BONK price is currently looking to break out of a bullish pattern it is currently moving in, which may not happen.
As Bitcoin (BTC) continues to traverse sideways, the altcoins are certainly not going to outperform. This is even more so the case with memecoins.
As Bonk trading volumes surge back above $100 million, per Yahoo Finance data, the Bonk price could be set to explode.
The 20 and 50-day BONK moving averages formed a bearish crossover last week.
Meme coins are just jokes, but over the past 24 months many delivered far more ROI than Bitcoin or Ethereum. This week's biggest losers were still on sale Saturday.
Cryptocurrency prices remained under pressure on Monday, continuing a trend that has happened in almost two weeks.
This week, the meme coins market has witnessed a noticeable decline in activity, with the sector's capitalization dropping 5% over the past five days.
The memecoin hype took a downturn, part of a broader market decline. Overall interest in cryptocurrencies has nosedived, which can be linked to recession fears and geopolitical tensions, leading to bearish sentiments. However, things are beginning to look up, with Bonk (BONK) and FLOKI (FLOKI) gearing up for a comeback.
The Bonk price has seen a deeper retracement today, down 3.57%, contributing to the 3.04% average decline among meme coins. However, indicators point towards building bullish momentum and a potential breakout.
After an extended decline, Solana-based meme coin Bonk (BONK) might be set for a rebound as bullish sentiment begins to return.
Solana memecoins spikes are traders' favorite sessions, and after the short bearish phase, the rally is likely to begin again. Amid the crypto market recovery today, top Solana memecoins Dogwifhat (WIF), BONK, and Popcat Sol have shown a significant surge.
Story Highlights The live price of the BONK token is BONK coin price may reach a high of $0.000085 by the end of 2024. BONK, with a potential surge, could reach a maximum of $0.0050 by the end of 2030.
BONK price plummeted 1.65% to $0.000029 on Tuesday despite a general uptick in the broader crypto market. The buying pressure uplifted Bitcoin price above $60000 following the recently released U.S. Producer Price Index (PPI) monthly rate of 0.1%, which came in lower than market expectations.
The Solana price has dipped by 0.5% in the past 24 hours, although its current level of $145 also marks a 4% gain in a week.
Solana memcoins, after a short bearish rally, has once again gained bullish momentum.
The weekend trade remained extremely bearish for the entire crypto space, which included even memecoins. The top 5 memecoins, Dogecoin, Shiba Inu, Pepe, dogwifhat & Bonk, are trying to rise above the bearish influence. Therefore, the buying pressure is slowly rising and hence the memecoins are about to gain mainstream attention soon.
The short-lived rally in Solana-based meme coins has come to an abrupt end, with Bonk (BONK), Cat in a Dog's World (MEW), and Book of Meme (BOME) ranking as the top assets leading the decline.
BONK price plunged over 5% on Friday during U.S. trading hours as the crypto market's mid-week recovery stalled. The lack of follow-up on the upside hints at a lack of conviction from buyers and a potential pullback to bottom support.
The memecoin's recovery came to a halt briefly, but will it last for long?
Bonk (BONK) price experienced one of its most significant drawdowns on Monday, August 5. The incident, which led to a sharp decline to $0.000015, caused a notable decrease in leveraged positions.
Altcoins like Stacks, Floki, Bonk, and Solana continued their recent rebound as traders bought the dip and as the crypto fear and greed index moved to the neutral point.
The cryptocurrency market is on the way back. Bitcoin is currently staging a 17% recovery over the past 3 days, and altcoins are following suit.
