Solana-Based Meme Coins $BONK, $WIF, and $MYRO Prices Slide, But This New Meme Coin Still Rising
Solana-based meme coin heavyweights are experiencing falling prices as they continue to sink this week.
Giants like $BONK, $WIF, and $MYRO are now significantly off their peak levels as traders leave the previous meme coin sensations to look for newly emerging alternatives capable of delivering higher returns.
In particular, the newly launched $SMOG is going viral after its fair launch this week as traders pile into the meme coin to prepare for its airdrop spectacle.
What you'll learn 👉
Sol-Based Heavyweight $BONK At Critical Point Following 70% Drop.
$BONK is by far the leading meme coin on Solana after surging by over 700% in December 2023 alone to reach an astonishing $1.5 billion market cap high.
Unfortunately, the cryptocurrency has now shed a staggering 70% from its peak as it finds support at the $0.00001 level.
$BONK is now trading at a critical point as it reaches the apex of the descending triangle consolidation pattern it’s been trapped within since its all-time high.
If the buyers can defend the $0.00001 support and push higher, the first resistance lies at $0.000015. This is followed by $0.0000178 (bearish .382 Fib), $0.00002, and $0.000023 (bearish .618 Fib).
On the other side, if the sellers push beneath $0.00001, $BONK is likely to continue its collapse. In this case, support lies at $0.00000767, $0.000005 (200-day MA), and $0.00000395.
$WIF and $MYRO Also Struggle After Epic Run
$BONK isn’t the only Solana-based meme coin giant seeing struggling prices as newly-established Dogwifhat ($WIF) and Myro ($MYRO) also see falling prices.
Dogwifhat is now down by a sharp 53% from its $0.479 high placed in mid-January. The cryptocurrency made another attempt to reach the highs toward the end of the month but failed to overcome resistance at $0.4.
It has since dropped into the support at $0.2, provided by a .618 Fib, and has rebounded to trade at $0.22.
Looking ahead, if the buyers push higher, resistance for $WIF lies at $0.25, $0.3, $0.365, and $0.4.
On the other side, support lies at $0.2, $0.15, $0.139 (.786 Fib) and $0.1.
Myro is also a newly established meme coin sensation after reaching $0.277 in mid-Jan. It has since purged 77% of its market cap to defend the $0.5 support.
Looking ahead, resistance lies at $0.1. This is followed by $0.115, $0.15, $0.188, and $0.2
Support lies at $0.06, $0.06, $0.04, and $0.01.
$SMOG Sees Price Explosion as Traders Hedge Bets For New Potential Meme Coin Sensation
While the meme coin giants start to slide, traders are beginning to hedge their bets in newly emerging Solana-based meme coins that have the potential to become the next sensations.
In particular, $SMOG is going viral after the airdrop-focused meme coin fairly launched earlier this week on Jupiter.
Traders are now piling into $SMOG to get positioned before the price sees a sudden explosion as it seeks to follow the footsteps of $BONK, $WIF, and $MYRO in their initial runs.
$SMOG launched at 16:00 UTC on February 7th and saw a sudden 1,400% price explosion in its first few hours of trading.
Since then, $SMOG has continued to go from strength to strength and is now up by an enormous 3,400% since its launch;
Born from the celestial forge of Juptier, $SMOG brings a novel airdrop utility to the Solana ecosystem that lets users buy and hold $SMOG to earn airdrop points to qualify for a historic airdrop.
Furthermore, there’s a Zealy campaign that also lets users build airdrop points. Zealy is a platform that brings a huge amount of social engagement as users participate in daily, weekly, and monthly quests.
The quests involve tasks such as following $SMOG on X and joining its Discord server.
The project is quickly gaining traction after hints emerge that it is run by an experienced Web3 team, with the hallmarks of previous meme coin successes like $SPONGE throughout its setup.
$SMOG is now one of the hottest meme coins in the entire crypto sector as it trends on popular dashboards like DexTools;
With its FOMO firmly established, traders are now looking at any dips for potential entry opportunities. The meme coin is expected to continue its epic run over the coming days, providing a perfect opportunity for early adopters.
Those looking to purchase $SMOG will need $SOL to buy it through the Jupiter DEX. Follow the project’s X page and join its Telegram channel to learn more.
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