Meme coins are facing a steep sales throughout the board due to the stable of bitcoin.
Meme coins have taken a sharp hit in the last 24 hours, leading to the decline between the largest tokens in the area according to Dogwifat (WIF), AI16Z (AI16Z), and Bonk (Bonk). CoinmarketcapHowever, Bitcoin (BTC) remains stable up to 0.63% and 0.93% on daily and weekly timeframes respectively. This deviation highlights a general trend: speculative property like meme coins thrives on speed and propagation. When BTC is stable, trading volumes and liquidity often dries up in meme coins, causing a decline in price.
AI16Z
The daily chart of AI16Z indicates the trend of a prevailing recession, which is currently at $ 0.32, at $ 0.34 below the 7-day simple moving average.
Given the level of the structure, the immediate area of interest is about $ 0.30 at the price point, which has been tested several times. If this support breaks, the next critical zone is located between $ 0.27 and $ 0.28, an area where the price was first consolidated before a short -term upward step.
The level of $ 0.40 stands as the next major resistance. This price point has rejected the tricks upwards first, indicating that the sellers remain active there. A more significant rapid change will require a breakout above $ 0.45 – $ 0.50 range, an area that marks the onset of the current downtrend.
Dogwifat
Similarly, the daily price chart for Dogwifhat shows a prevalent dowtrand, with a 7-day SMA slope downward. So far, WIF is trading at $ 0.60, below the 7-day SMA of $ 0.64. If the price may move beyond this level, the next resistance lies in $ 0.70 – $ 0.75 range.
The support is around $ 0.60, a level that has been tested several times. If this level fails, another decline towards $ 0.55 is possible.
For a possible reversal, WIF will need to break and maintain above the 7-day SMA, recovering $ 0.70- $ 0.75 zone. Until this happens, the bears remain under control, and there is a risk of further decline.
Bouk
Bonk is trading at $ 0.00001451, below the 7-day SMA of $ 0.00001557. Despite the brief time of condensing, especially in mid-February, the price is struggling to break above the 7-day SMA, which means that the sellers remain under control.
In terms of the level of the structure, the most immediately is around an $ 0.00001400, a level that has been tested several times. If the value fails to keep above this support, further negative movement may push it to $ 0.00001250 – $ 0.00001300 range, where historical value action suggests some stability.
$ 0.00001750 – $ 0.00001800 field represents a significant resistance area where Bonk first faced strong sales pressure. A brakeout above this level will reverse a possible trend and move the feeling to a more neutral or rapid approach.
The rapid decline in the prices of Meme coins is largely a reflection of the widespread crypto market recession, with almost all ultcoin bleeding on a daily time limit. However, it is also true that the Meme coin area has been particularly difficult to hit the incidents, especially the Libra scam.
“Bhavna is probably low now, or even less during FTX collapse,” Said Nick Pukrin, Founder of the Coin Bureau.
Even before the scam recently, analysts had already started commenting at the end of the Meme Sikka Yuga. For example, Ki Young Zoo, CEO of Cryptoctive, Said This “finally, the market will enter the trough of disillusionment, followed by years of gradual maturity.”
