The Meme Coin Market has been steadily reviving over the past few weeks. Since June 23, Memecoin’s total market capitalization has increased by more than 13%, reflecting gradual regrowth.
Bonk.Fun, a solana-based platform that allows anyone to create and trade meme tokens, is at the heart of this recent surge. Several meme coins within that ecosystem have earned significant profits over the past week, making them what they’ll watch in the new trading week.
Useless coins (useless)
No Useful/USD One-Day Chart Measurements show that Meme Coin has been recording a new daily price peak since June 5th. As it is currently trading at $0.29, the useless price has plummeted more than 740% in the past month.
Token’s Rising Chaikin Money Flow (CMF) has confirmed that its useless price rise is supported by substantial buy-side pressure. This momentum indicator, which measures how money enters and leaves assets, is rising at 0.13.
Such a positive CMF reading shows strong bullish pressure in the market. If purchasing activities continue, useless things could potentially revisit the highest ever $0.305.
On the other hand, for profitable spikes, the token price could drop to $0.234.
Hoshiko
Hosico is another Bonk Ecosystem Meme Coin to watch out for this week. Trades at $0.067 at press time has increased by 135% over the past week.
Despite the broader market pullback, Hosico has recorded a profit of 16% over the past 24 hours. For context, Altcoin easily traded for a record high of $0.069 during today’s session.
At the time of writing, its daily trading volume has risen 30% to $12 million. If the price and trading volume of an asset surges simultaneously, it indicates a strong market interest and increased trading activity. A large amount of price increases suggests that the upward trend is supported by true demand.
This combination is a sign of the strength of the Hoshiko market, which can push its prices to a new high in the short term. If token accumulation continues, Hoshiko’s prices will regain their all-time highs and could surge past that.
However, if demand drops, Meme Coin’s price could drop to $0.055.
Letsbonk
Letsbonk has grown 239% over the past seven days, making it one of the Bonk Ecosystem Meme Coins. At the time of writing, the token’s Aron Up line is 100%. This means that its uptrend is strong and not driven by speculative trading.
The asset AROON indicator measures the strength and orientation of trends by tracking the time since the highest and lowest prices over a specific period. It consists of two lines: Aronup, which measures ferocious momentum, and Aron, which tracks bearish pressure, goes down.
Like Letsbonk, when Aron Up Line reaches 100, the assets have recently achieved new highs and have shown strong upward momentum. If demand is further strengthened, Letsbonk’s price could reach $0.127 and could be attempting to exceed that.
Conversely, if demand decreases, the token price could immerse itself in $0.084.
Disclaimer
In line with Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. Although Beincrypto is committed to accurate and unbiased reporting, market conditions are subject to change without notice. Always carry out your research and consult with an expert before making any financial decisions. Please note that our terms and conditions, privacy policy and disclaimer have been updated.
