The crypto market ended the week on a steady note, however, some solana memecoins including Fartcoin, Pengu, and WIF seem to have stopped catching the attention of investors as they’ve lost momentum in the past few days.
According to CoinMarketCap, each of these memecoins are down at least an average of 10% in 7 days.
WIF Price Action: Trapped Between Key Level
For instance, dogwifhat has lost 11.76% in a week. Currently, it’s trading for $0.88 despite reaching a weekly high of $1.06 on Aug 14. This drop started after the market hit a resistance zone at $1.3, since then, WIF has been trading downward and trapped between the resistance lever and a support level at $0.75.
Moreover, the Relative Strength Index (RSI) is currently at 44. This suggests that the bears still have the opportunity to control the market. Meanwhile, trading volume is down 22% as of today with $261.76 million in trading activity.
PENGU Lost 12% in 7 days
PENGU, the native token of the Pudgy Penguins, a popular NTF project, saw its price drop 12% this week after hitting an all time high of $0.04662 on July 23. Since then, price has been dipping, creating a series of lower highs and lower lows in its path.
Currently, the memecoin is trading for $0.033145, down from its weekly high of $0.04120 on Monday with $2.08 billion in market valuation.
FARTCOIN Follows with 13% drop in Same Period
Fartcoin shares a similar price action as PENGU has also dropped after hitting a new high record. The drop started on July 16, after the price failed to recover its high of $2.6 which it hit in Jan.
As a result, the memecoin has lost 13% in 7 days, according to data from CoinMarketCap. In addition to that, the price is consolidating between $1.671 and $0.795.
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