Memecoins Tumble as Investors Flock to Bitcoin
Key Takeaways
- Memecoins such as BONK, FARTCOIN, PENGU, and WIF are currently experiencing significant losses.
- The overall memecoin sector has declined by 5.59% in recent days.
- A drop in liquidity in the altcoin market and increased inflows into Bitcoin are considered the main causes.
- Technical analyses show mixed outlooks for the affected coins.
Memecoins Losing Momentum
Memecoins are currently under pressure. BONK, FARTCOIN, PENGU, and WIF are particularly affected, ranking among the biggest losers in recent days. According to current data, the entire memecoin sector has lost 5.59% in value. Compared to the previous month, interest in this crypto category has dropped significantly.
Less Capital in the Altcoin Sector
One reason for the weak performance is the shift in capital flows. The so-called Altcoin Index metric, which measures liquidity in non-Bitcoin tokens, currently stands at 26. This is low and indicates that less money is flowing into altcoins. Instead, capital is increasingly concentrating on Bitcoin, which continues to trade above the USD 100,000 mark.
Technical Analysis of the Affected Coins
BONK – Decision Approaching
BONK is currently moving along an ascending support line. In the past, this structure has led to price increases multiple times. If the pattern holds again, another uptrend could be on the horizon. However, if the price breaks below this line, a decline to around USD 0.00001405 could follow.
FARTCOIN – Potential for Upside
Since April, FARTCOIN has been following a so-called fractal pattern with higher highs and higher lows. This structure is considered bullish. If the current price closes above the support line, a new high could be reached.
PENGU – Little Movement
PENGU is currently showing little momentum. The price is consolidating within a symmetrical triangle at the lower support level. Although the pattern generally has potential for an increase to USD 0.015 to 0.017, the current price development remains weak.
WIF – Brief Recovery, Then Downward Pressure
According to Bollinger Bands analysis, WIF shows short-term upward potential. The price is currently moving toward the upper band limit. If this acts as resistance, a decline to USD 0.764 could follow – a loss of around 41%.
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Our Assessment
The current weakness in the memecoin sector is part of a broader market movement. Capital is increasingly flowing into Bitcoin, while altcoins—and especially memecoins—are losing attention. However, short-term traders may still find opportunities, particularly with coins that show clear technical patterns such as BONK or FARTCOIN. In the long term, the sector remains volatile and highly dependent on market sentiment and liquidity distribution.
Sources
- Artemis
- CoinMarketCap
- TradingView
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