Meme coins are assets that enable rapid gains during market upswings, capturing interest from those yet to experience a bull market. The significant surges of popular meme coins in bullish phases have been notable, with Shiba Coin being a prime example in 2021. Meanwhile, PEPE, BONK, and DOGS have emerged as assets that survived and thrived during bear markets.
DOGS Coin Analysis
PEPE Coin boasts ten times more investors, but the abnormal wallet numbers are attributed to airdrop mechanics. As the first major meme coin initiative supported by the Telegram-backed TON Coin ecosystem, DOGS generated considerable excitement. Airdrops were distributed based on participant tasks, friend invitations, and time spent on Telegram.
Currently, those selling airdropped tokens immediately are significantly profiting. Despite being a new altcoin, DOGS has experienced a steady decline. Recently hitting a low of $0.0006265, it faces resistance above $0.0006946, with potential for new all-time lows below $0.000644.
Should BTC recover strongly, new peaks between $0.0009637 and $0.0012578 may be achievable.
BONK Coin Analysis
Some users affected by the collapse of the Solana ecosystem recovered their losses through the BONK airdrop. Observations indicate substantial profits for those who held and sold after about one year. Given its compelling story for the Solana community, BONK Coin has long-term survival potential, even as it faced selling pressure after surpassing the $0.00002173 support in a parallel channel.
The critical resistance level is set at $0.00002486; sustaining above this could target $0.00002904, with $0.0000338 and $0.00004441 being further potential milestones.
PEPE Coin Analysis
Despite facing tough times and its team abandoning the project, PEPE Coin continues to persevere. Even on lower volume days, it reached over $1 billion in daily trading, leading to listings on major exchanges like Binance. While currently recovering from $0.00000842, it struggles to break the resistance at $0.00000975 due to a lack of market appetite.
If it manages to surpass this resistance, it may convert $0.00001087 to support, followed by a potential increase in demand for a new all-time high.
