Solana Meme Coins Plummet By 91%, But Analysts See Signs of Massive Rebound
- 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 “golde…
The post Solana Meme Coins Plummet By 91%, But Analysts See Signs of Massive Rebound appeared first on Coin Edition.
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Solana Meme Coins Plummet By 91%, But Analysts See Signs of Massive Rebound
- 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 “golde…
The post Solana Meme Coins Plummet By 91%, But Analysts See Signs of Massive Rebound appeared first on Coin Edition.
Read More