WIF and BONK surprise the market with a 6% rise over the past 24 hours

Despite the overall market capitalization of meme coins dropping by nearly 6% due to losses from Dogecoin ( #doge⚡ ), Shiba Inu ( #shiba⚡ ) , and PEPE ( #pepe⚡ ), cryptocurrencies Dogwifhat (#dogwifhat ) and BONK ( #BONK🔥🔥 ) have seen a remarkable rise over the past 24 hours. WIF and BONK became some of the top-performing meme coins on Monday among the top 100 cryptocurrencies.

WIF defies the market downturn and continues to rise

While the meme coin category usually suffers when top tokens like $DOGE , $SHIB , and $PEPE face losses, WIF and BONK have broken away from this trend, increasing in value by 6%. This unexpected rise came after the Federal Reserve’s decision to cut interest rates by 50 basis points, triggering a 65% surge in WIF.

Top eight MEME coins

Potential further growth for WIF: Breaking resistance at $2.939

According to technical indicators, WIF may continue to grow if it manages to break through the key resistance level at $2.643. If successful, the next target would be $2.939, and if the bullish trend persists, WIF could reach as high as $3.472. Technical indicators such as the Relative Strength Index (RSI) and the Stochastic Oscillator suggest continued bullish pressure.

WIF/USDT 4-hour chart

Rising open interest (OI) supports WIF's growth

The increasing open interest (OI), which represents the number of open positions in the derivatives market, indicates that traders expect the upward trend to continue. On Monday, WIF’s OI reached $439.43 million, the highest level in the past four months. However, if the price drops below $2.038, the current bullish thesis could be challenged.

WIF Futures Open Interest

This unexpected performance from WIF and BONK demonstrates that even during a crypto market downturn, strong players can emerge and surprise with significant growth.


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,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“