PEPE, WIF, And These Meme Coins Recovers, Where Others Failed
With the crypto market crash, the last two days have been quite challenging as all the cryptocurrencies dipped to the month’s low, including the meme coins. The selling pressure rose instantly in the case of meme coins as the seller opted for trading to make the best out of the situation, creating higher declines. But today is different as the cryptos are recovering, especially the meme coins like PEPE, WIF, and others, which have been struggling even before the market crash.
In this blog, let us discuss how PEPE, WIF, and a few other popular meme coins are performing in the market.
PEPE Impresses Investors With Sudden Recovery
PEPE hit quite a setback after reaching new heights and creating an all-time high at $0.00001718. May has been the most profitable month for PEPE holders, as it created new all-time highs throughout the month. However, with the transition into June, the PEPE price was on a downtrend, with one minor recovery in June end. But with the market decline, this frog meme coin slipped again until recently, as it has surged 14% in the last 24 hours despite the market plunge. It is now trading at $ 0.000009081 but has a long way to go, as the ATH is more than 47% away.
The technical indicators indicate it is still a selling zone, as the short sellers are active. However, if the price can go above the pivot at 0.00001245, the uptrend is likely to continue as the resistance lies at 0.00001478. But if it failed to bounce up, the PEPE price might decline to 0.00000869.
Dogwifhat Leading The Meme Coins Rally
After dropping to $1.5 on June 5, WIF is leading the meme coins recovery with a 26% surge in the last 24. It became more significant as WIF was struggling in the market, similar to PEPE, but for longer. It was moving way down on the charts, even during the greedy market situation. However, it is among the first to rise, increasing hope among investors for retrieving their losses. In its prime, dogwifhat surged to $4.8 but hit a downtrend at May end, continuing till now.
That is not all, as a few other meme coins are also surging, causing a 13% rise in this category’s market capitalization. However, the trading volume is still struggling, dropped 21% from yesterday. Despite that, the meme coins are performing well in the market, and Hoppy (HOPPY), Windoge 98 (EXE), and Cog Inu (COQ) are the top performers with their 48%, 34%, and 34.7% gains today.
Dog-themed meme coins are also having a great start, as Dogecoin is trading at $0.109 after an 11% surge, Shiba Inu is at $0.00001562 after a 15% surge, BONK is at $0.00002252 after a 14.46% surge, and FLOKI is at $0.0001427 after 8% surge and the list goes on.
Final Thoughts
The market has not completely turned around, as the last two days wiped off around $260 Billion in market capitalization that time but has gained 5% today. Many cryptocurrencies, including the PEPE, WIF, BONK, and others, gained a significant hike, bringing them out of the bear trap. However, the fear and greed index is at 37, which is in a fear zone, indicating the investor’s hesitation in the market. It has to see how the next few days will go and whether the drop will continue or the market will go ahead with recoveries.
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