- BONK and WIF have seen steep losses—down 40% and 52%, respectively—amid a 10.8% drop in the overall meme coin market cap.
- WIF is nearing critical support at $0.97, while BONK risks testing $0.0000199, with further declines possible if bearish momentum persists.
- A potential recovery could see WIF retest $1.37 and BONK aim for $0.000028, though both require stronger buying pressure to reverse their downtrends.
The once-buzzy Solana meme coins BONK and WIF have been caught in a downward spiral, mirroring the broader collapse in the meme coin sector. WIF has dropped near $1—its lowest point in eight months—while BONK faces critical support levels as its Exponential Moving Averages (EMA) continue to flash bearish signals.
Both tokens have experienced steep declines: BONK has tumbled 40%, and WIF has cratered by 52% in the past month. Although a broader market recovery could spark a turnaround, current indicators suggest further downside risks remain.
Meme Coin Sector in Crisis: BONK and WIF Hit Hard
The entire meme coin market has taken a severe hit, with total market cap plunging by 10.8% in the past 24 hours, now sitting at $90 billion.
Solana-based meme coins, in particular, are facing unprecedented pressure. All of the chain’s top nine meme tokens have posted losses both on a daily and weekly basis. Among them, BONK and WIF are among the hardest hit. Despite their recent setbacks, they remain two of the largest Solana meme coins—BONK with a $1.6 billion market cap and WIF holding $1 billion.
Interestingly, both tokens have been overtaken by TRUMP, which has now claimed the top spot among Solana-based meme coins.
WIF Price Prediction: Testing Key Support
Currently trading near $1, WIF finds itself at a crossroads. After failing to break the $1.37 resistance, the token’s EMA lines suggest continued bearish momentum. Analysts warn that if the price breaches $0.97 support, it could tumble further, potentially testing $0.90.
However, if the broader market recovers and buying pressure increases, WIF may have a shot at regaining lost ground. A move above $1.22 could pave the way for a retest of $1.37, and a breakout beyond that level might propel the price to $1.64 or even $1.99—representing a possible 91% gain from current levels.
BONK Price Prediction: Approaching November Lows
BONK’s price action mirrors WIF’s troubles. Its EMA lines remain in a bearish alignment, with short-term averages trading below long-term ones—a signal that the downtrend may continue. Should this trend persist, BONK could soon test $0.0000199, and a breakdown could send the token as low as $0.000017, marking its lowest price since November 2024.
On the flip side, a recovery might see BONK challenge resistance at $0.0000225. If a breakout occurs, further gains toward $0.000028 and possibly $0.0000398 could follow, signaling a potential reversal and rally.
Final Thoughts
The meme coin sector, particularly on Solana, remains under intense pressure as BONK and WIF struggle to find stability. Both tokens need a strong shift in sentiment and broader market recovery to regain momentum. Until that happens, further declines could still be on the table. Traders are keeping a close eye on key support and resistance levels, as any breakout or breakdown will likely set the tone for the next major price movement.
