- WIF, PEPE, ANIME, and PENGU plunge over 50%, sparking concerns about further declines.
- Despite downturns, BRETT and CHILLGUY show resilience, hinting at potential bullish momentum.
- Analysts suggest market consolidation could create buying opportunities for long-term investors.
Meme coins like $WIF, $PEPE, and $ANIME just got hit hard, dropping more than 50%. Airdrop hype, weak liquidity, and profit-taking have hurt investor sentiment.
But, even in the mess, some tokens like $BRETT and $CHILLGUY has shown resilience, making people wonder: is this the lowest point, or will prices keep falling?
Market Chaos Triggers Sell-Off
$WIF is leading the big correction in meme coins. Analysts suggest it continues to lurk in a wave-(3) downtrend, with possible resistance between $0.825 and $1.425.
If it breaks above $1.425, that could mean a low point is in, but for now, prices could still go lower.
PEPE Holders Face 70% Drop
For $PEPE investors, the 70% drop is a shock. However, experienced traders point out that past cycles show huge rebounds after dips.
Even with the crash, many holders are still up just by buying when prices were lower. With sentiment at extreme fear, those who bet against the crowd might see this as a good time to buy.
Related: CZ Scoffs at Bitcoin “Crash” Talk as BTC Slides Under $90K
Hype Coins Get a Reality Check
On the other hand, newer meme coins like $ANIME and $PENGU have taken a beating after airdrops.
$PENGU, for example, fell 70% from its high because of weak liquidity and short-term hype traders selling. Still, those who support it believe innovation and real use will decide if it lasts.
Technical indicators point to a possible falling wedge breakout, which could lead to a 130-150% rebound.
Strong Performers: $CHILLGUY and $BRETT Hold Up
Despite the overall market slump, $CHILLGUY has been surprisingly strong, bouncing back sharply.
Analysts set targets at $60-$70 million market cap, market cap, predicting more gains if key resistance levels are broken.
BRETT’s “King of Base” Narrative Remains
Also, $BRETT’s story as the “King of Base” is still going strong.
While meme coin trends come and go, $BRETT has focused on building community-driven value, hosting events, and backing real-world initiatives. Its stronghold during this dip has reignited bullish sentiment, with many calling for new highs in 2024.
Related: Brett’s $BRETT Surpasses $BONK, Climbs to 57th on CoinMarketCap
What Happens Next?
Meme coins are still very risky, but history shows big drops often come before huge recoveries.
Projects with strong communities and long-term plans might weather this storm. However, traders need to be ready for more ups and downs until things get clearer.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
