In today's crypto trend, devastation is associated with memories of #Solana -based mining. These coins, linked to internet memes and traded on the blockchain, are causing controversy in one mass market. Some see them as a means of fraud, but others see them as opportunities for big profits. However, the current hype around the recently released Slerf and Book of Meme coins appears to be waning as they lose consumer demand due to heavy pumping.

The hype around Solana Memecoins is cooling down

As meme coins gain traction, some analysts have expressed concern about the rise in pre-sales of meme coins on the Solana blockchain. This concern comes as coins like “Slerf” become popular and the pre-sale of “areyoustupid.sol” leads to increased transaction fees and activity on the Solana network.

Analysts have suggested that strategies aimed at quick profits, such as the 2018 ICO bubble, are not helping the industry grow, urging caution about such approaches. The growing hype around #Solana meme coins is a warning sign, given the lack of a clear development plan and price increases driven by large investors. This often results in significant losses for small investors when the market is trending lower.

Over the past day, the price of Slerf rose by more than 100%, but then fell from a high of $1.4 after a wave of liquidations. Meanwhile, the price of Book of Meme (BOME) soared more than 1,200% in four days, but the hype has since died down, curbing its rapid rise.

Slerf Price Analysis

Slurf price fell below the 20-day exponential moving average (EMA) at $0.93, indicating weakening bullish momentum. However, buyers' attempts to start a recovery were successful and allowed them to overcome the 20-day EMA level. This suggests continued support from the bulls.

Bulls strongly defend the decline below $0.7, pushing the price back above $1. However, sellers continue to be active near higher levels, putting pressure on the price chart. This trend suggests that Slurf price may continue to trade within a range.

If the price falls below $0.7, it could create a dump situation as a large number of holders rush to liquidate their profits.

Book Of Meme (BOME) price analysis

The BOME price dropped below the EMA trend lines and reached a low of $0.009. However, buyers successfully defended this level and caused a push higher.

Buyers direct the price above the descending resistance line. If successful, we could see the BOME price move towards the initial resistance at $0.02. However, the bears will resolutely prevent the price from rising from this level. A fall below $0.008 will put bearish pressure on the BOME.

To prevent such a fall, the bulls need to maintain the price above $0.02. Success in this could stabilize the pair in the $0.2 to $0.27 trading range for an extended period.