- Solana-based meme coins have declined between 61% and 91% from their highs.
- Analysts point to historical trends and technical indicators suggesting possible recoveries.
- Traders highlight potential rebounds for PNUT, WIF, POPCAT, BONK, and PEPE.
Solana-based meme coins have taken heavy losses, with some plunging over 90% from their peak valuations. According to popular trader Ash Crypto, this could be the time for utility tokens to shine over meme coins with no use cases.
According to market data, PNUT is down 91%, followed by GOAT (-88%), POPCAT (-85%), MOG (-73%), WIF (-78%), BONK (-63%), and PEPE (-61%). However, despite the sharp declines, some analysts believe a rebound could be coming.
Traders See Potential for a Rebound
Gem Miner, a well-known crypto trader, highlighted that PNUT has retraced 88% from its peak market valuation of $2.4 billion to $260 million. He argues that the coin appears “dead” to most investors, which could signal an upcoming strong bounce.
Related: How Will PNUT and ANIME Perform After Breaking Key Support Levels?
Similarly, analyst “TA” on X analyzed GOAT price action, acknowledging its steep drop but finding a “golden divergence” in its technical indicators. TA suggested that bullish momentum could be building.
For POPCAT, analyst Mayo pointed out that the token has historically survived major declines before reaching new highs. He believes cult coins that have been around for over six months and endured 70%+ dips tend to be resilient.
Mixed Opinions on WIF, MOG, BONK, and PEPE
Opinions on WIF remain divided. While Roccobullbo Tom claimed its weekly downtrend had ended, analyst Matthew Dixon remained skeptical. Dixon stated that the chart still looks bearish unless a clear upward trend forms.
Meanwhile, investor Ash Robin reported a 75% loss on MOG in just two days, noting that the token fell from $1.5 billion to $425 million, even after securing a Coinbase listing.
Likewise, BONK has entered its Supertrend Sell Zone, which has historically preceded major reversals. Analyst Crypto S6 pointed out that previous sell zones 2024 lasted between 10 and 53 days, with some leading to strong rebounds.
Related: TRUMP, DOGE, BONK ETFs Spark Debate: Are Meme Coins Ready for Wall Street?
For PEPE, trader Jameson noted that the coin is in oversold territory for the third time in history. While acknowledging the bearish trend, he believes Ethereum’s potential rally could drive a PEPE resurgence.
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