"WIF, BONK Plummet Amid Solana Meme Coin Rout"

WIF and BONK Face Continued Pressure as Solana Meme Coins Risk Further Losses

Meme coins WIF and BONK face significant downturns, with WIF plummeting 52% and BONK down 40% in the past month amidst a broader market slump. The price of WIF approaches a critical $1 support level, while BONK teeters on the edge of its lowest value since late 2024, as EMA indicators suggest continuous downward pressure. Analyzing the potential for meme coin recovery, it is noted that WIF could surge to $1.99 and BONK to $0.0000398, though both are still exposed to additional declines.

WIF and BONK experience steep declines as Solana’s meme coin market struggles. Both tokens face critical support levels amidst ongoing market pressure.

The meme coin sector is grappling with a notable downturn, registering a 10.8% loss in the past 24 hours, resulting in a total market cap drop to $90 billion. Solana meme coins have been particularly affected. All the top nine tokens on the Solana blockchain have experienced losses over recent days, intensifying investor caution.

As highlighted, BONK has faced a substantial decline of 40% while WIF has endured a 52% drop over just 30 days. Despite these setbacks, both remain among the largest meme coins on Solana, with BONK positioned second with a market capitalization of approximately $1.6 billion, closely followed by WIF at $1 billion. Nevertheless, since its debut, the TRUMP token has eclipsed both WIF and BONK to become the leading meme coin within the Solana ecosystem.

Currently trading near the critical $1 level, WIF has failed to overcome the $1.37 resistance, indicating persistent bearish momentum. The EMA indicators suggest a continued downtrend. If this bearish trend persists, WIF could approach the $0.97 support, with a breakdown potentially pushing prices below $0.90.

A revival in meme coin interest could provide WIF with the impetus it needs to regain momentum, with potential gains first aimed at $1.22. A breakthrough at this