The meme coin market has seen a stable recovery in recent weeks. Since June 23, 2024, the total market capital of meme coins has increased by over 13%, reflecting gradual growth.
Bonk.Fun, a Solana-based platform that allows anyone to create and trade meme tokens, is the focus of recent explosion. Some meme coins in its ecosystem have recorded significant increases in the past week, making them notable coins in the new trading week.
Useless Coin (USELESS)
The USELESS/USD chart for one day shows that this meme coin has recorded new daily price peaks since June 5, 2024. Currently trading at 0.29 USD, USELESS's price has increased by over 740% in the past month.
The rising Chaikin Money Flow (CMF) of this token confirms that USELESS's price increase is supported by significant buying pressure. This momentum indicator, which measures money flow in and out of an asset, is currently at 0.13 and increasing.
Such a positive CMF indicates strong buying pressure in the market. If buying activity continues, USELESS may return to its All-Time-High of 0.305 USD.
USELESS Price Analysis. Source: TradingViewConversely, if profit-taking increases, the token's price could drop to 0.234 USD.
HOSICO
HOSICO is another meme coin in the BONK ecosystem to watch this week. It has increased 135% in the past week to trade at 0.067 USD at the time of writing.
Despite the broader market adjusting, HOSICO has recorded a 16% increase in the past 24 hours. To clarify, this altcoin has traded short-term at its All-Time-High of 0.069 USD today.
At this point, its daily trading volume has increased 30% to 12 million USD. When an asset's price and trading volume increase simultaneously, it indicates strong market interest and increased trading activity. Price increase with high volume suggests an uptrend supported by real demand.
This combination is a sign of strength in the HOSICO market and could push its price to new highs in the near future. If token accumulation continues, HOSICO's price could reclaim its All-Time-High and surpass it.
HOSICO Price Analysis. Source: TradingViewHowever, if demand decreases, the meme coin's price could drop to 0.055 USD.
Hãy BONK (LetsBONK)
LetsBONK has increased 239% in the past seven days, making it one of the meme coins in the BONK ecosystem to watch. At the time of writing, its Aroon Up Line is 100%. This means its uptrend is strong and not driven by speculative trades.
An asset's Aroon indicator measures trend strength and direction by tracking time since the highest and lowest prices within a specific period. It includes two lines: Aroon Up, measuring upward momentum, and Aroon Down, tracking downward pressure.
Like LetsBONK, when the Aroon Up line is at 100, the asset has reached recent new highs, signaling strong upward momentum. If demand continues to be strong, LetsBONK's price could reach 0.127 USD and attempt to surpass that level.
LetsBONK Price Analysis. Source: TradingViewConversely, the token's price could drop to 0.084 USD if demand decreases.
