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The post <a href="https://coinpedia.org/price-analysis/solana-based-meme-coins-wif-bome-and-bonk-face-sell-off/">Solana-Based Meme Coins, WIF, BOME and BONK Face Sell-off</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a> 
As the overall market volatility starts from last Tuesday’s dip, the meme coin sector is on a similar rocky road. Amidst such choppy market behaviors, Solana-based meme coins are struggling to come back from the recent hiccup.&nbsp; 
Even the <a href="https://coinpedia.org/price-prediction/solana-sol-price-prediction/">Solana price</a> trend shows a minor correction, as it loses the $200 mark and drops to the $180 mark. The market cap of altcoins, excluding Bitcoin, is reverting to the $1 trillion mark, falling 8.3% in two days.&nbsp; 
Moreover, the <a href="https://coinpedia.org/price-prediction/bitcoin-price-prediction/">BTC price</a> is down by 5.60% and retests the $63K mark. Hence, with a visible weakness in buying pressure, let’s have a look at Solana-based meme coins to find out the next potential reversal spot.&nbsp; 
<h2 class="wp-block-heading" id="h-top-solana-based-meme-coin-breaks-under-support-line">Top Solana-based Meme Coin Breaks Under Support Line</h2> 
<figure class="wp-block-image">
 <img decoding="async" width="1600" height="796" src="https://image.coinpedia.org/wp-content/uploads/2024/03/19140355/image-163.png" alt="" class="wp-image-280009" srcset="https://image.coinpedia.org/wp-content/uploads/2024/03/19140355/image-163.png 1600w, https://image.coinpedia.org/wp-content/uploads/2024/03/19140355/image-163-300x149.png 300w, https://image.coinpedia.org/wp-content/uploads/2024/03/19140355/image-163-1024x509.png 1024w, https://image.coinpedia.org/wp-content/uploads/2024/03/19140355/image-163-768x382.png 768w, https://image.coinpedia.org/wp-content/uploads/2024/03/19140355/image-163-1536x764.png 1536w, https://image.coinpedia.org/wp-content/uploads/2024/03/19140355/image-163-150x75.png 150w" sizes="(max-width: 1600px) 100vw, 1600px">
</figure> 
<a href="https://www.tradingview.com/x/JmVIyfNd/">Tradingview</a> 
With an expanding triangle in the 4H chart, the ongoing correction in the<a href="https://coinpedia.org/price-prediction/dogwifhat-wif-price-prediction/"> WIF price</a> cracks under the support trendline. The 27% fell within two days, with the meme coin losing market value at a quick pace.&nbsp; 
The falling prices of this Solana-based meme coin question the upcoming price trend as it approaches the 50% Fib level at $1.85. However, the strong demand zone at the 50% Fibonacci level could lead to a bounce back.&nbsp; 
In such a case, the meme coin could reach the overhead 100% Fib level at $3.41. However, the retest of the broken trendline could fuel the downtrend. Hence, short-term preemptive behavior is critical for sideline traders.&nbsp; 
<h2 class="wp-block-heading" id="h-crashing-bonk-price-fails-retest">Crashing BONK Price Fails Retest</h2> 
<figure class="wp-block-image">
 <img decoding="async" width="1600" height="796" src="https://image.coinpedia.org/wp-content/uploads/2024/03/19140354/image-162.png" alt="" class="wp-image-280008" srcset="https://image.coinpedia.org/wp-content/uploads/2024/03/19140354/image-162.png 1600w, https://image.coinpedia.org/wp-content/uploads/2024/03/19140354/image-162-300x149.png 300w, https://image.coinpedia.org/wp-content/uploads/2024/03/19140354/image-162-1024x509.png 1024w, https://image.coinpedia.org/wp-content/uploads/2024/03/19140354/image-162-768x382.png 768w, https://image.coinpedia.org/wp-content/uploads/2024/03/19140354/image-162-1536x764.png 1536w, https://image.coinpedia.org/wp-content/uploads/2024/03/19140354/image-162-150x75.png 150w" sizes="(max-width: 1600px) 100vw, 1600px">
</figure> 
<a href="https://www.tradingview.com/x/XiArhubS/">TradingView</a> 
With a 38% drop in the last seven days, the downtrend gains momentum in the <a href="https://coinpedia.org/price-prediction/bonk-price-prediction/">BONK price</a>. As buyers failed to halt the falling price, the Solana-based meme coin crashed to test the bullish dominance at the 50% Fibonacci level.&nbsp; 
Further, the BONK price is making the second consecutive bearish candle, the intraday drop of 10% reflects a growing bearish sentiment. Hence, the possibility of a downtrend continuation increase and teases a drop to 23.60% at $0.000015.&nbsp; 
<h3 class="wp-block-heading" id="h-book-of-meme-bome">Book of Meme (BOME)</h3> 
<figure class="wp-block-image">
 <img decoding="async" width="1600" height="895" src="https://image.coinpedia.org/wp-content/uploads/2024/03/19140355/image-164.png" alt="" class="wp-image-280010" srcset="https://image.coinpedia.org/wp-content/uploads/2024/03/19140355/image-164.png 1600w, https://image.coinpedia.org/wp-content/uploads/2024/03/19140355/image-164-300x168.png 300w, https://image.coinpedia.org/wp-content/uploads/2024/03/19140355/image-164-1024x573.png 1024w, https://image.coinpedia.org/wp-content/uploads/2024/03/19140355/image-164-768x430.png 768w, https://image.coinpedia.org/wp-content/uploads/2024/03/19140355/image-164-1536x859.png 1536w, https://image.coinpedia.org/wp-content/uploads/2024/03/19140355/image-164-150x84.png 150w" sizes="(max-width: 1600px) 100vw, 1600px">
</figure> 
<a href="https://www.tradingview.com/x/paLEZjeF/">GeckoTerminal</a> 
With the creation of a falling channel, the BOME price is under immense sell-off as the initial hype cools off. However, the meme coin presents a minor comeback from a crucial Fibonacci level of 78.60%.&nbsp; 
With a bullish revival in a bearish channel from crucial support, the chances of a breakout rally grow dramatically. Amidst such anticipations, the sideline traders await a bullish breakout to captilize on the next bullish frenzy.&nbsp; 
In case of a bullish breakout, the Solana-based meme coin price could hit the $0.020 mark.&nbsp;

Solana-Based Meme Coins, WIF, BOME and BONK Face Sell-off

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