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The post <a href="https://coinpedia.org/price-analysis/solana-based-memecoins-suffer-as-wif-and-bome-price-plunge-whats-next/" rel="noopener noreferrer nofollow">Solana-Based Memecoins Suffer As WIF And BOME Price Plunge! What’s Next?</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a>
The cryptocurrency industry has continued to trade under a strong negative sentiment since the beginning of April, highlighting a massive bearish reversal in the crypto space. Further, top Solana-based memecoins such as dogwifhat (WIF) and Book of MEME (BOME) continue to display a negative price action.
Moreover, the memecoins leaders continue to record significant corrections in their respective portfolios, indicating a high possibility of negative price action during this month for the memecoin category.
<h2 class="wp-block-heading" id="h-dogwifhat-wif-price-displays-a-rounding-top-pattern">dogwifhat (WIF) Price Displays A Rounding Top Pattern!</h2>
The <a href="https://coinpedia.org/price-prediction/dogwifhat-wif-price-prediction/" rel="noopener noreferrer nofollow">WIF price</a> continues to trade under a negative influence, with a correction of over 10% within the past 24 hours and approximately 25% in valuation since the month’s start, indicating a significant increase in the selling pressure within the crypto space.
Moreover, the chart displays a rounding top pattern in the 4H time frame, highlighting a strong bearish influence for the memecoin in the market. Furthermore, the SMA shows a negative trend, suggesting a price breakdown for the WIF token in the coming time.
<figure class="wp-block-image"><img decoding="async" src="https://lh7-us.googleusercontent.com/bmuJ1KOqOzvYH_8PDofT1a2Op6WBP1v3aVmyntMG6cSodPWfk_j4agd9ZqH7T_3AOZE2_k3Vxpnme2NCHW1Bdw-MWxxgBeSQdLzOUuuHXvrUeJ3c_jwdTGStTntwD8SLaxSee-sQPXJL1lMYjPyBIqQ" alt="WIF Price Analysis">
 <figcaption class="wp-element-caption">
 TradingView: WIF/USDT
 </figcaption>
</figure>
The technical indicator, MACD, displays a constant red histogram, indicating increased selling over buying pressure in the crypto space. Further, the averages show a significant decline in the chart, suggesting a bearish price action this week.
However, if the market displays a trend reversal, the WIF price may regain momentum and attempt to test its high of $4.1975 by the coming weekend. On the other hand, if the memecoins continue to trade under a negative trend, the dogwifhat token will fall to test its low of $3.
<h2 class="wp-block-heading" id="h-bome-price-on-the-verge-of-a-major-breakdown">BOME Price On The Verge Of A Major Breakdown!</h2>
The <a href="https://markets.coinpedia.org/book-of-meme/" rel="noopener noreferrer nofollow">BOME memecoin</a> had recently displayed a double top pattern, following which the token experienced a correction of 17.23% in its portfolio with a loss of approximately 13% within the past 24 hours, indicating a rising disinterest of investors in this category.
Moreover, the price has repeatedly failed to break out of its resistance level at $0.0184, highlighting a strong liquidation point at that level in the crypto market. With the current market sentiments, the price is predicted to plunge and test its low during the upcoming weeks.
<figure class="wp-block-image"><img decoding="async" src="https://lh7-us.googleusercontent.com/X8u4QJwVCmAH9NLtxsb0mUB3d4bv1SnpmW6jAYycU-iw5mH_dFoofjOKzPe1dMmHSTXGrY6t5apgDZV_lVJ3CnbR2NnsAk0UIVR6nxTzO28OG6nNZXaF1koy9LlCieDSYknS9TTyBsV-Xh1Gtd5mPrY" alt="BOME Price Analysis">
 <figcaption class="wp-element-caption">
 TradingView: BOME/USDT
 </figcaption>
</figure>
The MACD shows a constant flatline for a brief period, indicating a weak price action for the altcoin in the market. Furthermore, the averages display a descending pattern, highlighting a bear power in the crypto space.
If the market pushes the price above the resistance level of $0.0159, the bulls will regain momentum and attempt to test its upper level of $0.0184. Conversely, if the bears continue to overpower the bulls, the BOME price will plunge and fall to test its lower support level of $0.0111 this month.

Solana-Based Memecoins Suffer As WIF And BOME Price Plunge! What’s Next?

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