Being the hottest thing in crypto this year, meme coins can bring impressive gains if bought during the recent correction. As the broader market anticipates a comeback later this year, these cryptos can lead the next bull run at neckbreak momentum.
However, the ongoing market crash brings an intense correction in the top meme coins that once showcased impressive bull runs earlier this year. Will these community-driven coins make a comeback as they test crucial support levels?
Let’s check Coinpedia’s top meme coins to buy as they hit critical support levels.
PEPE Meme Coin Warns $0.000010 Fallout
With an intense correction in the broader market, the frog-themed meme coin, PEPE, crashes at an intense pace. The PEPE price is down by 36% from the all-time high peak of $0.0000166.
Tradingview
The downfall in the meme coin falls under the support trendline and tests the psychological mark of $0.000010 mark. With an intraday fall of 5.32%, the PEPE price is down by 15% within 48 hours.
As the downfall approaches the 78.60% Fibonacci level, the lower price rejection floats the price above $0.000010. With a long-tail candle, the PPE price teases a bullish revival to hit the $0.000012 mark this week.
Meme Coin Correction Tests WIF Token Buyers At $2
Breaking under the crucial support trendline, the market crash dumps the WIF price to test the psychological mark of $2. With the selling pressure increasing, the meme coin is down by 44% within three weeks.
Tradingview
The downfall makes a resistance trendline in the 1D chart as it breaks under the long-coming support trendline. With an intraday fall of 9.52%, the bearish candle puts pressure on the support zone under $2.
If the downfall continues, the WIF price could drop to the $1.27 mark. However, the strong support may soon result in a bounce back in the meme coin to reclaim the $3 this month.
50% Pullback For Floki Brings Buy The Dip Chance
Being one of the top performers in the meme coin segment, FLOKI stands strong with a 378% YTD growth. The dog-themed coin sustains massive returns despite the recent pullback of almost 50%.
Tradingview
In the daily chart, the FLOKI price stands at $0.00016 with an intraday fall of 8.05%, following the overnight drop of 12%. The meme coin may soon test the $0.00015 psychological mark as the downfall continues.
However, this crucial support will bring an entry opportunity for sideline traders to capture the dip. With a buy-the-dip opportunity, the reversal rally can result in a price jump to the $0.00020 mark.
BONK
Amidst the crashing market, BONK price action showcases a negative cycle within the rising channel. The bearish phase breaks under crucial Fibonacci support and the $0.000025 mark to test the bottom support level.
Tradingview
The buyers can reverse the cycle with the declining trend testing the 23.60% Fibonacci level and the crucial demand zone of $0.000020. In such a case, the meme coin price may soon surpass the $0.000025 mark.
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