- Solana’s Dogwifhat (WIF) is the only meme coin in the top 100 cryptocurrencies posting gains amid a broader crypto market dip.
- Popular meme coins like Bonk, Dogecoin, Pepe, Floki Inu, and Farcasters Degen are struggling to maintain momentum and are posting losses.
- WIF is trading sideways, testing its resistance as it looks to break into a stable bullish trend, while other meme coins are showing similar market behavior, bouncing between support and resistance levels.
Meme coins are a popular but volatile subset of the crypto market. While the broader crypto market has seen declines over the last 24 hours, one meme coin on Solana’s network, Dogwifhat (WIF), has bucked the trend and posted gains.
Dogwifhat Price Analysis
WIF is up over 27% in the last 24 hours, trading around $0.336. It is correcting after reaching a daily high of $0.366. Overall, WIF seems to be trading sideways, bouncing between $0.220 and $0.350 since March.
Technical indicators like the ADX, RSI, and EMAs point to indecision in the market. A bullish forecast could send WIF up 11% to $0.350 resistance. A bearish forecast could drop it 24% to $0.220 support.
Other Top Meme Coins Declining
The remaining top meme coins are posting losses today:
- BONK is down 63%, testing support at $0.000001940. An optimistic performance would take it to $0.000002950 resistance.
- Dogecoin is down 41% today, trading around $0.01563. It is back inside its horizontal channel after testing support at $0.014. A bullish scenario could send it 27% up to $0.020 resistance.
- PEPE, Floki Inu, and Farcasters Degen are also down between 2-35% today.
Conclusion
While the broader crypto market declines, Solana‘s Dogwifhat is bucking the trend and posting gains today. Other top meme coins like Dogecoin and BONK have declined over 40% in the last 24 hours. Meme coins tend to post big gains in bull markets but bleed heavily when bears take over.
