WIF and BONK Struggle With Multi-Month Lows Amid Broader Meme Coin Downturn

Source Beincrypto

Solana meme coins WIF and BONK continue to struggle, reflecting the broader downturn in the sector. WIF has dropped to nearly $1, its lowest level in eight months, while BONK risks testing key support levels as its EMA lines signal a continued downtrend.

Both tokens have suffered steep losses, with BONK down 40% and WIF dropping 52% over the past 30 days. While a broader meme coin resurgence could spark a recovery, both assets remain under pressure, with further declines still on the table.

BONK and WIF Extend Losses as Solana Meme Coins Collapse

The meme coin sector has faced a sharp downturn, losing 10.8% in the past 24 hours and now sitting at a total market cap of $90 billion.

Solana meme coins have been hit particularly hard, with all nine of the chain’s top nine biggest tokens recording losses over the past day and the last seven days.

BONK and WIF Market Data.BONK and WIF Market Data. Source: Messari.

Among the hardest-hit tokens, BONK and WIF have struggled significantly, with BONK down 40% and WIF dropping 52% over the past 30 days.

Despite their recent losses, both coins remain among the largest meme coins on Solana. BONK holds the second position with a market cap of approximately $1.6 billion, followed closely by WIF at $1 billion.

However, since its launch, TRUMP has surpassed both to become the leading Solana meme coin.

dogwifhat Price Prediction: Will WIF Continue Going Down?

WIF is currently trading near $1, its lowest level in months, after failing to break the $1.37 resistance. Its EMA lines point to an ongoing downtrend, suggesting bearish momentum remains strong.

If the trend continues, WIF could test the $0.97 support, and a breakdown could push it below $0.90.

WIF Price Analysis.WIF Price Analysis. Source: TradingView.

A broader meme coin recovery, especially within the Solana ecosystem, could help WIF price regain momentum. If buying pressure builds, WIF could first test $1.22, with a breakout leading to $1.37.

If that resistance is cleared, WIF could rally to $1.64 or even $1.99, a potential 91% gain.

Bonk Price Prediction: Will BONK Reach Its Lowest Levels Since November 2024?

BONK EMA lines mirror WIF’s downtrend, with short-term lines trading below long-term ones.

If this trend persists, BONK could test $0.0000199 soon, and a breakdown could send it as low as $0.000017, its lowest level since early November 2024.

BONK Price Analysis. BONK Price Analysis. Source: TradingView.

A reversal could see BONK price challenging the $0.0000225 resistance, with a breakout leading to $0.000028.

If bullish momentum strengthens, BONK could climb to $0.0000398, signaling a strong recovery.

Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
Ethereum Price at Risk of Extended Decline as Bears Regain ControlEthereum price started a downside correction below the $1,850 zone. ETH is now consolidating and might drop further below the $1,785 support zone.
Author  NewsBTC
May 06, Tue
Ethereum price started a downside correction below the $1,850 zone. ETH is now consolidating and might drop further below the $1,785 support zone.
placeholder
Solana (SOL) Faces Continued Downside Risk—More Losses LikelySolana started a fresh decline from the $155 zone. SOL price is now consolidating near $145 and might extend losses below the $142 support.
Author  NewsBTC
May 06, Tue
Solana started a fresh decline from the $155 zone. SOL price is now consolidating near $145 and might extend losses below the $142 support.
placeholder
XRP Price Dips Further: Key Support Levels In JeopardyXRP price started a downside correction below the $2.20 zone. The price is now declining and might extend losses toward the $2.020 level. XRP price started a fresh decline below the $2.20 zone.
Author  NewsBTC
May 06, Tue
XRP price started a downside correction below the $2.20 zone. The price is now declining and might extend losses toward the $2.020 level. XRP price started a fresh decline below the $2.20 zone.
placeholder
Analysts Highlight 4 Reasons Why ETH Price Could Rebound Strongly in MayEthereum (ETH) has declined for five consecutive months. However, it enters May with rising optimism.
Author  Beincrypto
Yesterday 01: 34
Ethereum (ETH) has declined for five consecutive months. However, it enters May with rising optimism.
placeholder
Ethereum Price Regains Traction—Can Bulls Break Through the Barrier?Ethereum price started a downside correction and tested the $1,750 zone. ETH is now rising and attempting a move above the $1,850 resistance.
Author  NewsBTC
Yesterday 03: 31
Ethereum price started a downside correction and tested the $1,750 zone. ETH is now rising and attempting a move above the $1,850 resistance.
goTop
quote