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July 23, 2024
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Solana-Based Memecoins Surge! What’s Next For WIF And BOME Price?

The post Solana-Based Memecoins Surge! What’s Next For WIF And BOME Price? appeared first on Coinpedia Fintech News

The cryptocurrency industry continues to display significant price volatility as top tokens constant to record constant fluctuations in their respective portfolio. Moreover, the rise of investor’s interest in memecoins regains momentum as top tokens from this category display an upward trend.

On the other hand, the Solana-based memecoins display a mixed sentiment as some tokens record massive uptrends, whereas other tokens witness a neutral sentiment. Top memecoins just as WIF price has recorded a jump of over 25%, but the BOME price has recorded a rise of less than 3%.

dogwifhat (WIF):

The WIF price traded in a closed range between $0.2820 and $0.5783 for a period, following which the bulls jumped approximately 406% within the next six days. The dogwifhat token displayed a neutral trend for a period, after which it fell to test its low of $1.120.

Following this, the bulls breached the resistance level, where the price traded sideways for a while. As the volatility grew, the WIF coin price jumped 82.80% before facing rejection at $3.5047, after which the price lost momentum and broke down the support. Since then, the price has been trading in a consolidated range between $1.7301 and $2.9679.

WIF Price Analysis
TradingView: WIF/USDT

The technical indicator, MACD, displays a constant green histogram, indicating a strong bullish influence in the crypto industry. Further, the averages show a rising pattern, suggesting the price will continue gaining value in the coming time.

If the market pushes the price above the resistance level of $2.967, the bulls will continue to gain momentum and prepare to test its upper resistance level of $4 in the coming time. However, a bearish influence may pull the price toward its low of $1.73 within this month.

Book Of MEME (BOME):

Following its launch, the BOME price gained significant attention from the market, resulting in this memecoin recording a massive jump in valuation. The Book Of MEME price recorded a jump of 1,741% within hours, after which the price lost momentum and lost approximately 70% in value.

After testing a low of $0.008870, the bulls displayed a neutral trend for the next two days, following which the bulls regained momentum and broke out of the resistance level. Since then, the price has been trading in a closed range between $0.01313 and $0.01842.

BOME Price Analysis
TradingView: BOME/USDT

The Moving Average Convergence Divergence (MACD) shows a constant flatline, highlighting weak buying and selling pressure in the crypto market. Moreover, the averages display a neutral trend, indicating uncertainty in the future price action for this memecoin.

Positively, if the bulls regain momentum and start trading upwards, the BOME price will attempt to test its upper high of $0.0234 this month. On the other hand, if the market loses momentum, the BOME memecoin will bleed to test its crucial lower support level of $0.0088 in the coming time.

Also Read : Here Is The Full Timeline When Shiba Inu will surge to $0.001 

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