The recent market chaos has left meme coins like $WIF, $PEPE, $ANIME, and $PENGU reeling, with some experiencing over a 50% plunge in prices. The downturn has been attributed to a combination of airdrop hype, weak liquidity, and profit-taking, leading to concerns about further declines in the near future.
However, amidst the turmoil, tokens like $BRETT and $CHILLGUY have shown resilience, hinting at potential bullish momentum. Analysts are suggesting that the market consolidation could create buying opportunities for long-term investors looking to capitalize on the current situation.
$WIF has been at the forefront of the correction in meme coins, with analysts noting a possible wave-(3) downtrend. If it manages to break above the resistance levels between $0.825 and $1.425, it could signal a potential low point. On the other hand, $PEPE holders have faced a staggering 70% drop, but experienced traders are optimistic about potential rebounds based on past cycles.
Newer meme coins like $ANIME and $PENGU have also taken a hit post-airdrops, with $PENGU experiencing a 70% decline due to weak liquidity and short-term hype traders selling off. Despite this, supporters believe that innovation and real-world use cases will determine the longevity of these coins.
In contrast, strong performers like $CHILLGUY and $BRETT have held up well during the market slump. $CHILLGUY has shown resilience by bouncing back sharply, with analysts setting targets at $60-$70 million market cap. $BRETT, known as the “King of Base,” has focused on building community-driven value and real-world initiatives, leading to renewed bullish sentiment.
While meme coins remain risky investments, history has shown that big drops often precede significant recoveries. Projects with strong communities and long-term plans may weather the storm, but traders should be prepared for more volatility in the coming days.
Disclaimer: The information provided in this article is for informational and educational purposes only. It does not constitute financial advice, and readers are advised to exercise caution before making any investment decisions.