Bonk, Pepe, Floki Crash 12% – Is This the End for Meme Coins?

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.

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.

PEPE Price Analysis: Strength Growing Into The Weekend After Big Drop

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 cool-down on the RSI, which now stands at 58.29, suggesting upside momentum could resume from here.

Yet, overhead anxiety remains after a bearish ‘death cross’ emerged between the 20DMA and 200DMA on October 2nd.

Furthermore, with a descendant upper trendline forming a harsh ceiling of resistance at $0.00001075, PEPE has a lot of work to do to fix-up.

Nevertheless, if Bitcoin returns to strength, expect a local target at higher support around $0.00000985 – a level which could set the stage for resistance testing at the 200DMA.

BONK Price Analysis: Is Solana’s Favorite Dog Coin Returning To Strength?

Switching our attention to everyone’s favorite Solana dog coin – BONK – we discover an even more inspiring recovery chart, displaying strong technical structure as BONK trades at a current market price of $0.0000215 (Representing a 24-hour change of +8.92%).

This comes following a mighty tumble earlier in the week following a similar ‘death cross’ on October 3rd, which sent BONK price plummeting down to lower trendline support at $0.0000193.

Yet, a strong bounce saw investors flock to buy the dip, with BONK price surging back above critical 20DMA support ($0.00002015) less than 10-hours later.

However, unlike PEPE, it appears there was no consolidation needed to bolster hold bank confidence, as BONK price ripped high – creating a +5% divergence above 20DMA pricing.

This does create some downside risk, but also shows the momentum behind the move, especially as capacity remains in a persistent RSI at 58.75.

BONK price appears to be targeting a push into higher support above the 200DMA as it heads into the weekend, with a local upside target between $0.000022 and $0.0000235.

FLOKI Price Analysis: On Verge Of Skyrocket Candle

However, perhaps the most exciting chart amongst the big animal meme coins is Floki Inu, which is currently trading at a market price of $0.000134 (representing a 24-hour change of +4.83%).

At the heart of this excitement is a major reversal, as FLOKI price has re-mounted 20DMA support after 10-days of damning supression by this vital moving average.

This comes after FLOKI bounced off long-time frame lower-trendline support, in a huge relief to holders that endured a brutal -30% drop in this supressed period.

Now in consolidation, and with renewed confidence, a cooling-off RSI (standing at 58.3) teases the idea of an upside jump into the weekend – with a near clear run for higher support levels at $0.000144 and $0.0000163 firmly on the cards in the days ahead.

New Meme Coin Layer-2 Smashes $17M Raised As Ecosystem Hype Grows

Meanwhile, stepping away from the multi-billion market caps, and looking at growing opportunities in the meme coin space, there is perhap no more exciting opportunity this week than Pepe Unchained.

Seeking to address one of the most common complaints amongst meme coin traders – high gas fees – Pepe Unchained is on a mission to shift the legendary Pepecoin from it’s ERC-20 prison via the launch of a much-needed dedicated meme coin layer-2.

What does this mean? In a nutshell, Pepe Unchained is going to deliver faster transactions at a lower-cost, enabling a highly-scalable playground for the best meme coin developers in the crypto space.

But this is so much more than a new layer-2 piggy-backing on Ethereum; this is about the development of a new hive for meme coin activity – and that requires ecosystem growth.

Luckily for us, that’s something the OG developers working on the Pepe Unchained project are keenly aware of.

As such they’re already planning a whole suite of ecosystem development tools, including block explorers to enable research, super low-cost cross-chain bridges to draw in meme coin traders from across the industry, and perhaps most exciting of all a new developers grant fund.

Yup, you heard that right! With Frens With Benefits, Pepe Unchained will be funding some of the most legendary developers in the space to buidl on the latest and greatest layer-2 solution – so expect big things to come.

Better yet? You can claim your slice of the pie and profit-off this huge new venture.

Gone are the days of venture capital – Pepe Unchained is here for the people – and the experienced development team (that boast more than 100 years of combined blockchain development XP) are bootstrapping this project with crowd funding via the $PEPU presale.

And this winning recipe is already a viral success! Pepe Unchained’s presale smashed a jaw-dropping $17M in funding this week, as eagle-eyed investors across the space target $PEPU as one of the hottest launches of 2024 – a far more exciting proposition than PEPE, BONK or FLOKI.

So don’t miss out on this incredible opportunity, next time you hear about Pepe Unchained, you will probably be trading on it (and regreting ignore this news!).

To stay up to-date – engage with the Pepe Unchained community on X and Telegram.

Visit Pepe Unchained Here

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