Bonk.Fun Ramps Up, Leading the Market This Week with These 3 Meme Tokens

Original Article Title: 3 Meme Coins in the Bonk Ecosystem Worth Noting This Week

Original Source: BeInCrypto

The meme coin market has been steadily recovering in recent weeks. As of June 23, 2024, the total market capitalization of meme coins has grown by over 13%, reflecting a gradual upward trend. Bonk.Fun is a Solana-based platform that allows anyone to create and trade meme tokens, and it has recently gained attention. Some meme coins in its ecosystem have seen significant gains in the past week, making them notable coins to watch in the new trading week.

USELESS Coin

The daily chart of USELESS/USD shows that this meme coin has been hitting new all-time highs every day since June 5, 2024. Currently trading at $0.29, USELESS has seen a price increase of over 740% in the past month. The coin's continuously rising Chaikin Money Flow (CMF) confirms that USELESS's price surge has received significant buying support. The CMF, a momentum indicator measuring the flow of funds into and out of an asset, is currently at 0.13 and rising. Such a positive CMF indicates strong market buying pressure. If buying activity continues, USELESS may revisit its all-time high of $0.305.

USELESS Price Analysis. Source: TradingView

Conversely, if profit-taking increases, the token's price could drop to $0.234.

HOSICO

HOSICO is another meme coin in the BONK ecosystem worth noting this week. It has risen by 135% in the past week, currently trading at $0.067. Despite the broader market undergoing a correction, HOSICO has risen by 16% in the past 24 hours. It is noteworthy that this altcoin hit an all-time high of $0.069 earlier today.

Currently, its daily trading volume has increased by 30% to reach $12 million. When the price and trading volume of an asset rise simultaneously, it indicates strong market attention and increased trading activity. Price increases accompanied by high trading volume suggest that the upward trend is supported by actual demand. This combination is a signal of HOSICO's market strength and may propel its price to reach new highs in the near future. If token accumulation continues, HOSICO's price may revisit and surpass its all-time high.

HOSICO Price Analysis. Source: TradingView

However, if demand decreases, the price of this meme coin may fall to $0.055.

Let's BONK (LetsBONK)

LetsBONK has surged by 239% in the past seven days, becoming one of the most notable meme coins in the BONK ecosystem. At the time of writing, its All-Time High (ATH) percentage increase is 100%. This indicates a strong upward trend driven not by speculative trading. The asset's ATH indicator measures the strength and direction of the trend by tracking the time between the highest and lowest prices within a specific period. It consists of two lines: the ATH Up line measuring the upward momentum, and the ATH Down line tracking the downward pressure. Similar to LetsBONK, when the ATH Up line reaches 100%, the asset has recently hit a new high, indicating strong upward momentum. If demand remains strong, the LetsBONK price could reach $0.127 and attempt to break above this level.

LetsBONK Price Analysis. Source: TradingView

Conversely, if demand weakens, the token's price may fall to $0.084.