Solana-based Memecoins Surge! WIF And BOME Price To Dominate The MEME Rally?
The post Solana-based Memecoins Surge! WIF And BOME Price To Dominate The MEME Rally? appeared first on Coinpedia Fintech News
With the resurfacing of memecoins in the cryptocurrency industry, top tokens have recorded a strong bullish price action by adding significant valuation to their respective portfolios.
Moreover, the Solana ecosystem’s memecoins have regained momentum, resulting in them recording a bullish reversal. Further, top SOL memecoins such as dogwifhat (WIF) and BOOK OF MEME (BOME) have surged over 50% and 66% this month, highlighting a positive outlook in the coming time.
In this article, we have covered the market sentiments and price targets of WIF and BOME memecoins for the month of June.
Dogwifhat Price On The Path To Retest Its ATH:After displaying a weak price action for about a month, the dogwifhat price has successfully regained momentum and is on the verge of reclaiming the $4 mark. The WIF crypto has added 19.61% within the past day with a jump of 30.91% in its trading volume.
Moreover, it has surged 39.05% within the past seven days and 47.41% over the past 30 days. With a trading price of $3.9605, the dogwifhat crypto trades at a discount of only 19% from its previous ATH of $4.85.
TradingView: WIF/USDT
Positively, the WIF coin price has formed a symmetric triangle pattern in the 1D time frame. Further, the memecoin is on the verge of testing its resistance trendline, the outcome of which is unpredictable.
Moreover, the SMA records a bullish curve in the price action, highlighting an increase in the buying pressure in the crypto space. On the other hand, the MACD shows a rising green histogram with its averages displaying a constant uptrend, suggesting the WIF memecoin price will continue gaining value in the coming time.
If the bulls record a breakout of the resistance trendline of the triangle pattern, the dogwifhat price will prepare to test its previous all-time high (ATH) of $4.85. However, a bearish reversal could pull the price toward its support trendline in the coming time.
BOME Price Displays A Breakout Rally!With the resurfacing of the hype in Solana-based memecoins, the BOOK OF MEME crypto continues to record a constant uptrend by adding approximately 16% within the past day. Moreover, the BOME coin price has surged by 64.83% this month.
This resulted in the memecoin reclaiming the market cap of $1 Billion and is currently valued at $1.079 Billion with a circulating supply of 68,966,327,627 BOME tokens.
TradingView: BOME/USDT
Furthermore, the BOME price has successfully breached the resistance trendline of the channel pattern, resulting in this memecoin recording a breakout rally in the price chart.
The Relative Strength Index (RSI) continues to trade above the overbought range in the 4H time frame with its average displaying a constant uptrend. This highlights an increase in the buying-over-selling pressure for the BOOK OF MEME token in the crypto space.
If the market continues to gain momentum, the bulls will rise toward its paper resistance level of $0.01850 during the upcoming weeks. Conversely, if the bears overpower the bulls, the price will experience a pullback within the channel pattern.