What’s Going On With Meme Coins To Buy WIF, BONK In July?

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As a seasoned crypto investor with a few years under my belt, I find the current market situation intriguing yet challenging. The modest recovery in July is a welcome sign after the dismal performance in June, but it also presents a dilemma for those looking to rebalance their portfolios before the second half of the year.

It’s encouraging to see a small bounce-back in the cryptocurrency market at the beginning of July following a bearish trend in June. However, for investors looking to adjust their portfolios before the potential bullish second half of the year, this could present a challenging or even perplexing situation. Notable meme coins, such as WIF and BONK, are gaining attention with compelling arguments for growth.

As a careful investor, I strongly recommend exploring every potential opportunity that comes my way before the market experiences a significant upward trend.

Dogewhiz (WIF) and Bonk are two popular meme coins based on the Solana blockchain, known for their lively fan bases fueled by the surging interest in meme coins. Some investors view them as attractive options due to their relatively low prices and perceived growth potential, which could yield returns ranging from 10-fold to 100-fold.

1. Meme Coins To Buy – Bonk

As an analyst, I’d say: I observe that Bonk price is currently at $0.00002385, marking an 8% rise during U.S. trading hours based on data from CoinMarketCap. With this growth, Bonk has managed to secure a market capitalization of $1.63 billion, placing it as the 54th largest cryptocurrency by market cap rankings. Additionally, the trading volume has experienced a significant surge of approximately 66% over the past 24 hours, amounting to around $192 million.

The cryptocurrency market is undergoing a resurgence right now, with investor confidence on the rise. Notably, Bonk has seen significant trading activity this week, bouncing between the prices of $0.000025 and $0.000019.

What’s Going On With Meme Coins To Buy WIF, BONK In July?

The cryptocurrency meme coin BONK is experiencing strong growth, indicating a possible transition into a bullish market. If this upward trajectory continues, the price of BONK could break through the resistance level at $0.000025. With further momentum, BONK might approach $0.00005 and even reach its all-time high of $0.001.

If market sentiment takes a turn for the worse, Bonk’s trend could reverse. In this scenario, Bonk may hold steady at the $0.000023 support level. A more pronounced downturn might cause the price to drop to around $0.000025. As bearish tendencies intensify, Bonk could hit a substantial support level at $0.00002, indicating heavy selling pressure.

2. Dogwifhat (WIF)

In simple terms, Dogwifhat, a memecoin built on the Solana platform, has seen a significant increase of 11.5% within the past 24 hours. This rise suggests a possible trend reversal, potentially leading to further price growth.

What’s Going On With Meme Coins To Buy WIF, BONK In July?

After Bitcoin‘s decline from $60 decreasing the market pressure for cryptocurrencies, several altcoins have reached their local minimum prices. Dogwifhat illustrates this trend in a clear manner on a 4-hour chart as the price bounced back right away from $1.478.

As a crypto investor, I’ve witnessed an incredible surge in WIF‘s value within just a week. The upswing drove the price up by 48.83% to hit $2.19 on the charts. Additionally, the market capitalization saw a significant increase, reaching a staggering $2.2 billion. Taking a closer look at the technical chart, it appears that WIF is forming an inverted Head & Shoulder pattern, hinting at a potential bullish reversal.

As an analyst, I’ve observed that this chart pattern is typically identified at significant market bottoms as a precursor to trend reversals and new higher low formations. Currently, Dogwifhat coin is exhibiting a 4% intraday gain, suggesting a potential bullish breakout above the resistance level of its neckline around $2.3. If this breakout materializes, it will serve as a strong indication of an uptrend continuation and may propel Dogwifhat towards targets of $4 and subsequently $4.86.

Bottom Line

As a researcher exploring investment opportunities in the crypto market, I’ve noticed that meme coins based on the Solana blockchain present intriguing prospects for smaller portfolios. These tokens have gained considerable attention and competition, potentially challenging the dominance of Dogecoin and Shiba Inu. Nevertheless, it’s essential to exercise caution due to their inherent volatility when considering diversification into them for the year 2024.

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2024-07-01 21:57