Bonk, Pepe, Floki Crash 12% – Is This the End for Meme Coins?
Sam is a financial journalist with a focus on cryptocurrency market news, based in London. With a Master’s Degree in Development Management from the London School of Economics, Sam’s passion for...
Hold onto the edge of your seats. Bitcoin’s chop is battling 60k, and the FUD is ripping through the meme coin vertical, with major volatility in top meme coins, including BONK, PEPE, and Floki – let’s take a look.
Despite high hopes for Uptober, the first week is off to a rocky start. Market makers are playing on Israel-Iran FUD to punish a severely overleveraged market with thunderous dips to 60k.
As ever, the double-edged sword of meme coin’s super volatility is biting deep, and with many in the market holding portfolios laden with high-octane meme coin bags. There has perhaps never been a more important time to lock in as the market just can’t stack enough.
Wife and I talking about her selling feet pics to buy more meme coins
I don’t see how it doesn’t work? #solana $sol
Notably, animal-themed meme coins have risen to the top of the market this week, fuelled by the loveable Thai baby hippo – Moo Deng.
This has drawn interest away from the abstract—to the devils we know and love—so let’s dig into the top animal meme coins and see how they’re looking at the weekend.
Despite volatile drops in the chop, Pepecoin is currently showing strength heading into the weekend, with PEPE trading at a market price of $0.00000906 (representing a 24-hour change of +4.98%).
The ongoing display of strength stems from today’s reclamation of the 20DMA at $0.0000089, which has now seen a successful consolidation of support for a period of 15-hours – suggesting holders have confidence at this level.
Crucially, this consolidation period has enabled a
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