Memecoin Market Mixed: Pepe and Floki Surge While Bonk and Bome Wobble

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Memecoin Market Mixed: Pepe and Floki Surge While Bonk and Bome Wobble
  • PEPE surges 5.66% from support, reaching $0.00001503 as market cap grows by 5.60%.
  • FLOKI rebounds with a 1.17% increase despite a 21.96% drop in trading volume.
  • BONK rallies 2.14%, maintaining bullish control after testing $0.0000358 resistance.

Pepe (PEPE) price has been mooning in the last 24 hours after finding support at the intra-day low of $0.00001319. Bulls wrecked the bear trend, soaring the price to an intra-day high of $0.00001503 before hitting resistance. As of press time, PEPE was trading at $0.0000145, a 5.66% surge from the support level.

During the bull run, PEPE’s market capitalization and 24-hour trading volume surged by 5.60% and 1.44%, respectively, to $6,101,284,450 and $2,150,287,689. If the bulls break through the intra-day high of $0.00001503, the resistance levels to watch are $0.000016 and $0.000017. However, if the bears flips the script and push the price below the current support level of $0.0000145, the next levels to watch out for are $0.000014 and $0.000013.

PEPE/USD 24-hour price chart (source: CoinMarketCap)

However, the memecoin market has shown mixed reactions, with PEPE and FLOKI  seeing an upswing while other popular memecoins like BONK and  BOME have experienced declines.

FLOKI Surges Amid Market Volatility

FLOKI has also witnessed a surge in the last day after bulls swooped in to maintain support at the intra-day low of $0.0002405. During the day, FLOKI bulls managed to pump the price to a high of $0.0002601, where resistance was stiff. At press time, FLOKI was trading at $0.0002497, a 1.17% surge. 

While FLOKI’s market capitalization surged by 1.28% to $2,392,014,539, the trading volume plummeted by 21.96%, indicating potential consolidation or profit-taking among investors. This price action suggests that FLOKI may be experiencing a period of indecision as traders assess the next potential move in the market. 

FLOKI/USD 24-hour price chart (source: CoinMarketCap)

If the bulls breach the $0.0002405 resistance, the following resistance levels to watch for are $0.0002601 and $0.0002800. However, if the bears take control, FLOKI could retest the support levels at $0.0002300 and $0.0002200.

BOME Dips Following Market Correction

However, BOOK OF MEME’s (BOME) price action has been in a bearish rally in the last 24 hours after failing to breach the $0.01357 high. This failure was followed by a dip to a low of $0.01281, where support was established. Despite this dip, there is still potential for a bullish reversal if BOME can break above the $0.01357 resistance level. 

Subsequently, the next resistance levels would be $0.014 and $0.015. However, if the bearish momentum persists and the $0.01281 support level is broken, BOME could potentially test lower support levels at $0.012 and $0.011. 

BOME/USD 24-hour price chart (source: CoinMarketCap)

During its decline, BOME’s market cap decreased by 0.87% to $912,158,261, while its trading volume decreased by 25.54% to $345,793,875. This market cap and trading volume dip indicates decreased investor confidence and interest in BOME.

BONK Defies Bearish Shift 

On the other hand, BONK started the day with positive momentum, reaching a peak of $0.0000358 in early trading before facing resistance. Despite this resistance, bullish momentum was still in control after support at $0.00003243 was held. As of press time, BONK was exchanging hands at $0.00003422, a 2.14% surge from the intra-day low.

BONK/USD 24-hour price chart (source: CoinMarketCap)

During the rally, BONK’s market capitalization surged by 2.93% to $2.3 billion, while trading volume declined by 4.80% to $737.48 million. If the bullish momentum breaches the resistance level at $0.0000358, the next resistance levels to watch out for are at $0.0000382 and $0.0000400. However, if the support at $0.00003243 is broken, the price may retrace towards the next support level at $0.0000300. 

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.