Why did encryption decline? The meme market has been down a bit lately, but have meme coins hit the bottom yet? Find it here.
The popular meme coin on Solana, DogWifHat, WIF, has fallen 60% since its highs in March. By looking at the chart, we can see that the $1.6 level was previously a strong support for the currency. With the Relative Strength Index (RSI) near 30, this may indicate that a bottom is near.
If the RSI reaches below 30 in bull markets, it is considered oversold, and you can start looking for a bounce.
(ifosted)
But what about Solana Meme Coin Super Star BONK?
Another popular meme on Solana called Bonk, which gained massive momentum out of nowhere at the end of 2023 and rose a staggering 165-fold in just 130 days, is also showing signs that the bottom may be closer than we think.
We have a trend line with a formation of 3-4 touches. You usually consider at least 2 touches, but preferably 3 or more, before a trend line becomes relevant. Just like the WIF, the RSI is approaching 30, and could consider a final push down to touch the trend line before a bounce.
(Buncaudt)
What do things look like on the Coinbase main chain?
The Brett on Base series has been one of the strongest coins recently and is the biggest meme on Base.
It is down 30% from its all-time high and sits above an area that recently served as support ($0.126). We can gauge that as long as the Relative Strength Index (RSI) is strong enough to stay above 50 and the price stays above $0.126, we will likely see a new all-time high soon.
Losing this level will eventually take it down towards $0.08411.
(Pretouched)
Dark Horse of Q2: WeinerAI – The preview you don’t want to miss
Pushing both meme narratives and artificial intelligence, Weiner AI seeks to establish itself in the cryptocurrency world through a combination of fun, innovation, and utility. Despite this dog’s funny appearance, the technology that powers it is no joke at all.
AI Trading: A simple, intuitive interface for a beginner-friendly trading experience.
The goal of the bot, which has no fees, is to ensure a smooth trading experience by helping the user find high-potential projects early, providing data, and giving the user the ability to swap directly through decentralized exchanges while protecting against MEV bots. !
The pre-sale has already raised nearly $6 million and is preparing to move to the next stage, raising the current price of $0.000179 per WAI.
Investors also have the opportunity to stake their coins, making their investments more profitable.
More Wieners every day – our WienerAI family is growing fast! 🐾
More owners = more excitement for our launch!
Are you ready to join the pack? 🌭🚀 pic.twitter.com/TPFpsjLGFX
— WienerAI (@WienerDogAI) June 13, 2024
If you’re a fan of memes and the increasingly prominent AI technology flooding the cryptocurrency world, Weiner AI might be the project for you.
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Disclaimer: Cryptocurrencies are a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all your capital.