Meme coin madness is cooling off, with dogwifhat (WIF) and Bonk (BONK) sliding in the past 48 hours.
However, the bearish price action hasnât dented investor enthusiasm surrounding Slothana (SLOTH) â which early backers speculate could explode once listed on exchanges.
After a sharp weekend pump, dogwifhat has come crashing back to earth over the past two days.
WIF has plunged a staggering 21% since Monday afternoon to trade around $3.40.
This selloff has effectively erased all of the tokenâs weekend gains in a bout of profit-taking.
The charts tell the tale of WIFâs deflating price momentum, too.
WIF has been forming a textbook descending channel pattern on the 4-hour timeframe as each bounce is met with fresh selling pressure.
Spot volumes for WIF are also down 4% in the past day as retail investors grow exhausted following the weekendâs frenzy.
If the bearishness continues to run rampant, the next key technical support to watch is around $3.20.
A break below could open the door for an extended retracement to the $3.00 psychological level.
On the flip side, a rebound from $3.20 may see WIF push back towards the upper boundary of the descending channel, where buyers and sellers will likely battle it out once more.
The bearish price action hasnât been isolated to just dogwifhat, either.
Even the super-popular BONK token has found itself in trouble over the past 48 hours.
BONKâs slide has seen it lose over 13% of its value to trade at just $0.000021 at the time of writing.
That marks the tokenâs lowest valuation in nearly a week as the profit-taking gathers pace.
To make matters worse, BONK is now teetering around a major support level that hasnât been breached since late February.
Charting a near-identical trajectory to WIF, BONK is also stuck in a large descending channel â this time on the daily time frame.
And a look at BONKâs fundamentals shows that the picture doesnât get any rosier.
Spot volumes have contracted by over 15% in the past 24 hours, reflecting waning interest from retail investors.
Ultimately, with both WIF and BONK experiencing significant downward pressure, the meme coin frenzy that gripped the market over the weekend appears to be coming to an end.
While established meme coins have hit speed bumps recently, one under-the-radar token is still gaining traction â Slothana.
Against a backdrop of market bearishness, Slothanaâs presale has continued raking in investment at a rapid pace.
The presale has now raised a jaw-dropping $10 million, with early buyers able to purchase SLOTH tokens at a rate of 10,000 per SOL.
But more than just the presale haul, Slothanaâs community growth signals that this could be the next viral meme coin on the Solana chain.
Slothanaâs official Twitter account has grown to over 15,800 members, and each new post receives over 100,000 impressions.
The buzz around Slothana has reached such fever-pitch levels that prominent crypto influencers have taken notice.
For example, Crypto Aman has already begun championing SLOTH to his 62,000 followers.
While no firm timeline has been announced, Slothanaâs developers have begun dropping teasers that an exchange listing could be imminent.
Only time will tell if Slothana can maintain this momentum and join the ranks of top meme coins â but the early signs look positive.
Visit Slothana Presale
Disclaimer: The above article is sponsored content; itâs written by a third party. CryptoPotato doesnât endorse or assume responsibility for the content, advertising, products, quality, accuracy, or other materials on this page. Nothing in it should be construed as financial advice. Readers are strongly advised to verify the information independently and carefully before engaging with any company or project mentioned and do their own research. Investing in cryptocurrencies carries a risk of capital loss, and readers are also advised to consult a professional before making any decisions that may or may not be based on the above-sponsored content.
Readers are also advised to read CryptoPotatoâs full disclaimer.
The post Dogwifhat, Bonk Prices Slide But New Solana Meme Coin SLOTH is Backed to Explode appeared first on CryptoPotato.
However, the bearish price action hasnât dented investor enthusiasm surrounding Slothana (SLOTH) â which early backers speculate could explode once listed on exchanges.
WIFâs Weekend Gains Evaporate as Bearish Trend Takes Hold
After a sharp weekend pump, dogwifhat has come crashing back to earth over the past two days.
WIF has plunged a staggering 21% since Monday afternoon to trade around $3.40.
This selloff has effectively erased all of the tokenâs weekend gains in a bout of profit-taking.
The charts tell the tale of WIFâs deflating price momentum, too.
WIF has been forming a textbook descending channel pattern on the 4-hour timeframe as each bounce is met with fresh selling pressure.
Spot volumes for WIF are also down 4% in the past day as retail investors grow exhausted following the weekendâs frenzy.
If the bearishness continues to run rampant, the next key technical support to watch is around $3.20.
A break below could open the door for an extended retracement to the $3.00 psychological level.
On the flip side, a rebound from $3.20 may see WIF push back towards the upper boundary of the descending channel, where buyers and sellers will likely battle it out once more.
BONK Follows WIFâs Downtrend & Drops 13%
The bearish price action hasnât been isolated to just dogwifhat, either.
Even the super-popular BONK token has found itself in trouble over the past 48 hours.
BONKâs slide has seen it lose over 13% of its value to trade at just $0.000021 at the time of writing.
That marks the tokenâs lowest valuation in nearly a week as the profit-taking gathers pace.
To make matters worse, BONK is now teetering around a major support level that hasnât been breached since late February.
Charting a near-identical trajectory to WIF, BONK is also stuck in a large descending channel â this time on the daily time frame.
And a look at BONKâs fundamentals shows that the picture doesnât get any rosier.
Spot volumes have contracted by over 15% in the past 24 hours, reflecting waning interest from retail investors.
Ultimately, with both WIF and BONK experiencing significant downward pressure, the meme coin frenzy that gripped the market over the weekend appears to be coming to an end.
Under-the-Radar Meme Coin Slothana Defies Trends with Explosive Presale Raise
While established meme coins have hit speed bumps recently, one under-the-radar token is still gaining traction â Slothana.
Against a backdrop of market bearishness, Slothanaâs presale has continued raking in investment at a rapid pace.
The presale has now raised a jaw-dropping $10 million, with early buyers able to purchase SLOTH tokens at a rate of 10,000 per SOL.
But more than just the presale haul, Slothanaâs community growth signals that this could be the next viral meme coin on the Solana chain.
Slothanaâs official Twitter account has grown to over 15,800 members, and each new post receives over 100,000 impressions.
The buzz around Slothana has reached such fever-pitch levels that prominent crypto influencers have taken notice.
For example, Crypto Aman has already begun championing SLOTH to his 62,000 followers.
While no firm timeline has been announced, Slothanaâs developers have begun dropping teasers that an exchange listing could be imminent.
Only time will tell if Slothana can maintain this momentum and join the ranks of top meme coins â but the early signs look positive.
Visit Slothana Presale
Disclaimer: The above article is sponsored content; itâs written by a third party. CryptoPotato doesnât endorse or assume responsibility for the content, advertising, products, quality, accuracy, or other materials on this page. Nothing in it should be construed as financial advice. Readers are strongly advised to verify the information independently and carefully before engaging with any company or project mentioned and do their own research. Investing in cryptocurrencies carries a risk of capital loss, and readers are also advised to consult a professional before making any decisions that may or may not be based on the above-sponsored content.
Readers are also advised to read CryptoPotatoâs full disclaimer.
The post Dogwifhat, Bonk Prices Slide But New Solana Meme Coin SLOTH is Backed to Explode appeared first on CryptoPotato.
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