- Declining momentum could send WIF to $2.59 while BONK’s target could be $0.000019.
- The BB on the DOGE chart indicated low volatility with the AO suggesting a slide to $0.12.
- FLOKI’s momentum was bearish, and the 0.786 Fib level indicated a potential retracement to $0.0015.
Meme coins continue to experience major declines despite speculation that some of them could be oversold, and could be set for a rebound. Those affected include dogwifhat (WIF), Bonk (BONK), Dogecoin (DOGE), and Floki (FLOKI).
At press time, WIF changed hands at $3.03. This was a 5.34% decrease in the last 24 hours. BONK’s price fell by 7.68% while trading at $0.000023. DOGE lost 4.52% of its value while FLOKI dropped by the same percentage to trade at $0.00017.
Here is what led to the declines, and how the cryptocurrencies can perform in the coming week.
WIF Price Analysis
On May 9, bulls camped at $2.78 on the WIF/USD 4-hour chart and formed support at the level. This ensured that the price of the meme coin jumped to $3.26. In doing this, the token had to break through the $3.00 resistance.
But at press time, the price was back at the same resistance level. Meanwhile, th…
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