Has Memecoin bounced back?
Several meme coins have more than doubled in value, up 100% from their lowest levels this month. After the Bitcoin halving event, BTC price quickly started an uptrend, maintaining momentum above $66,000. In contrast, memecoins started growing slowly. Leading SOL-based memecoins such as Bonk, Pepe, and Dogwifhat are now aiming for more gains before the weekend.
Recently, Bonk’s price has seen significant growth, aiming to break above a critical resistance level. Bonk has successfully broken out of the descending resistance channel; however, sellers strongly defend further gains.
The BONK/USDT trading pair seems ready to break above the Fibonacci level, close to the $0.0000301 resistance line. Bears consider it crucial to hold this line, as a break above it could end their dominance. If overcome, the price could climb to $0.0000405 or even $0.000045.
Conversely, if the price turns down sharply from the moving average or the downtrend line, it will confirm the bearish dominance. In this case, sellers are likely to push the price down to $0.000019 and even further to $0.0000135.
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