Bonk

dogwifhat

In the past week, the cryptocurrency market has seen a significant decline, with major memecoins experiencing sharp drops in their prices. The total market cap for memecoins has fallen to $39 billion, as Bitcoin&#39;s price saw a dramatic decline, dropping by $10,000 from Monday to Sunday morning. The fall in crypto market following the release of the US July jobs report and ETF outflows, which contributed to a downturn in <a href="https://coinsprobe.com/web-stories/top-10-high-potential-memecoins-to-add-in-portfolio-for-bull-run/" rel="noopener noreferrer nofollow">memecoins </a>by over 25% in the last seven days.Here&#39;s a closer look at the performance of some popular memecoin of last 7 days:<ul><li>Pepecoin (PEPE) is down by 26.73%.</li><li>Dogwifhat (WIF) is down by 34.21%.</li><li>Bonk (BONK) is down by 26.09%.</li></ul><img src="https://academy-public.coinmarketcap.com/optimized-uploads/8286adea8082436ca988b477c6fb3a2e.png" />Source: <a href="https://coinmarketcap.com/view/memes/" rel="noopener noreferrer nofollow">Coinmarketcap</a><h3 id="what-39-s-ahead-for-pepe-wif-and-bonk">What&#39;s Ahead for PEPE, WIF, and BONK?</h3><h3 id=""></h3><img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/86e5504e58614ae4a1b0f2091108f7bb.png" />After facing a solid bearish trend in the past week, the future of these memecoins heavily depends on Bitcoin&#39;s movements. Since Bitcoin <a href="https://coinsprobe.com/top-altcoins-render-filecoin-and-stacks-face-double-digit-declines-whats-next/" rel="noopener noreferrer nofollow">failed to break out</a> at the $70K resistance of the Bull-Flag Pattern, the crypto market saw a sharp decline. Currently, $60K is a support level for Bitcoin. If Bitcoin manages to rebound from this level, we could see a recovery in the prices of PEPE, WIF, and BONK.For now, it&#39;s crucial to keep an eye on Bitcoin&#39;s price action, as its next moves will likely determine the short-term fate of these memecoins. If Bitcoin stabilizes and begins to climb again, PEPE, WIF, and BONK could follow suit and recover some of their lost ground.Disclaimer: This article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments are highly volatile and carry risks.

Memecoins Took Hit of Over 25%; What's Ahead For PEPE, WIF and BONK?

Table of Contents

CoinsProbe

Other articles published on Aug 4, 2024

SafeStake Newsletter — August Edition

Dogwifhat’s sharp decline: Why WIF could fall below $1

Ripple Optimistically Awaits Future Developments for XRPL

Crypto Weekly Recap: Bitcoin for National Debt; Genesis $4B Restructuring; Tokenized T-Bills on X...

Top New Crypto To Buy Before It Soars by 1300% According to Crypto Experts

Senator Cynthia Lummis’s Bitcoin Reserve Bill Gains 2,200 Letter Endorsements

Join our free newsletter for daily crypto updates!