Meme cryptocurrencies had a mixed day as their total value remained unchanged at $57.48 billion. The coins that recorded gains were led by #BananaForScale , a meme coin on the $BNB network.
Recorded an increase of 27%.
The BeInCrypto site has analyzed two other meme coins for investors to monitor as they attempt to recover.
SPX6900 ($SPX )
Launch Date - August 2023
Total Circulating Supply - 930.99 million SPX
Max Supply - 1 billion SPX
Fully Diluted Valuation (FDV) - $1.26 billion
#SPX remains one of the best-performing meme coins, having risen nearly 12% to $1.36. The coin is currently facing resistance at $1.42 and has shown strong price action. If it can break through this level, SPX is poised to continue its upward trend, attracting more investors to the asset.
The Parabolic SAR indicator below the candles suggests a strong bullish trend for SPX. This technical signal indicates the potential for the price to break through the $1.42 level, converting it into support. As momentum continues, SPX could rise to $1.55, establishing a key resistance level on its path to further gains.
SPX Price Analysis.
However, if SPX fails to break through the resistance level at $1.42, it may face increased selling pressure. This is likely to lead to a decline back to $1.25 or lower, negating the current positive outlook. A failure to break key resistance levels may lead to further negative sentiment in the market.
#BUILDon (B)
Launch Date - May 2025
Total Circulating Supply - 1 billion B
Max Supply - 1 billion B
Fully Diluted Valuation (FDV) - $365.78 million
BUILDon has seen a rise of 7.2% today, indicating positive momentum despite not being the top performer. The meme coin now faces resistance at $0.364. Securing this level as support is crucial for continuing price gains, helping BUILDon to bolster its recent upward movement in the market.
BUILDon benefits from a strong correlation with Bitcoin, with a correlation coefficient of 0.62. This correlation suggests that BUILDon could rise as BTC rises, supporting the potential for price increases. Converting the resistance of $0.364 into support could push BUILDon towards $0.413, indicating a recovery from recent losses and boosting positive sentiment.
BUILDon Price Analysis.
However, if broader market signals fail to remain positive, a reversal at $0.364 may lead to a decline in BUILDon's price. A drop below this resistance would open the door for a decline to $0.310, negating the current positive outlook and indicating the potential for further losses.
Microcap Corner - Banana For Scale ($BANANAS31 )
Launch Date - November 2024
Total Circulating Supply - 10 billion BANANAS31
Max Supply - 10 billion BANANAS31
Fully Diluted Valuation (FDV) - $155.33 million
#BANANAS31 has risen by 27% in the past 24 hours, reaching a new all-time high of $0.0167. The meme coin on the BNB network rebounded from the support level of $0.0120 to achieve its current price. This strong performance highlights increased interest and confidence in the altcoin despite market volatility.
With 124,000 holders supporting BANANAS31, the meme coin has strong backing that could drive its price forward. Community support is critical for the growth of the token, and if momentum continues, it may push BANANAS31 towards $0.0180. Ongoing positive sentiment indicates the possibility of continued price gains.
BANANAS31 Price Analysis.
However, if investors start selling in large quantities, BANANAS31 may experience a decline. A drop below the support level of $0.0120 would indicate further weakness, potentially pushing the price down to $0.0078. This would negate the current positive outlook and erase recent gains, signaling a shift in market sentiment.