The crypto market has really been unstable lately, with various hot topics coming one after another, especially in the meme coin circle we are familiar with — #PEPE , #Bonk , #the are all 'breaking out', chasing each other, and putting on a grand show of price surges. 💥#迷因币情绪
Some say, 'It's time for the heavens to shower us with money again,' while others question 'Is the rebound a trap or a prelude to spring?' But whether you are holding coins and waiting or already on board, this market trend is worth digging deeper to see if meme coins are really about to start their 'second spring.'
🐸 PEPE: Holders have exceeded 463,000; is the cup and handle pattern about to complete?
First of all, I have to mention the old friend PEPE.
As of the time of writing, the number of PEPE holding addresses has exceeded 463,000, which is not just a small dot game but reflects the significant entry of retail investors and a substantial increase in user activity.
PEPE's current price is $0.00001252, with a 24-hour increase of 1.68%. Although the increase isn't particularly shocking, on-chain and chart analysis indicate that its trend is increasingly resembling a 'ready to take off' pace.
From a technical perspective:
PEPE's daily chart has clearly formed a cup and handle pattern, with neck line pressure around $0.00001580—this is a key point. Once it breaks out with volume, market analysts generally believe it could soar directly to $0.000030.
From the indicators:
+DI (Directional Indicator) reached 35.3, significantly higher than -DI's 12.7, indicating buyer dominance;
ADX is at 23.0, indicating that the trend is strengthening but has not yet reached its limit—there is still plenty of room;
The derivatives market is also thriving, with trading volume surging 60% to $3.67 billion, and open interest increasing by 8.2%, reaching $705 million;
The weighted financing rate for open interest remains positive at 0.0107%, indicating that bulls are willing to pay interest to maintain their positions.
📈 Whales and retail investors are both making moves.
It's not just retail investors rushing in; whales are also starting to quietly position themselves. Large transaction volume has increased by 6.63%, new wallets have grown by 39%, active wallets have increased by 38.43%, and wallets with zero balance have surged by 42.41%, reflecting rapid fund movement on-chain.
Overall, the on-chain data and technical patterns for PEPE are giving very strong bullish signals, just waiting for a 'volume breakout' confirmation, with a breakthrough at $0.00001580 being key. If it fails, it may enter a consolidation period in the short term.
🐶 BONK: Soaring 100% in July; can it challenge its historical high?
Next, I must mention the big brother on Solana, BONK.
From the low of $0.000011 at the end of June, BONK has surged to $0.000028, achieving a doubling increase (+100%) in just two weeks and reaching a new high in five months. 👀
Although this is still about 50% lower than the historical high of $0.000058 in November 2023, this rise is not just a small rebound but seems more like a structural repair market.
🔍 How to interpret the chart structure?
Currently, BONK's daily line is in a rising expanding wedge pattern, which is a bearish reversal pattern that usually forms at the end of an uptrend. However, it is still far from the upper edge of the wedge; theoretically, it will face real pressure at around $0.000040.
That is to say, there is still about 43% upward potential in the short term.
The momentum indicators are also not bad:
RSI and MACD are both in the rising range;
The super trend indicator has turned green, indicating that the short-term trend remains upward;
Some technical analysts even set their bullish targets directly at $0.000060, which would be a new high.
💡 What are the driving forces behind it?
The financing rate has been positive for nine consecutive days, indicating that the futures bulls continue to be strong;
Nansen data shows that the exchange's BONK balance has decreased by 22%, meaning many people are choosing to withdraw to private wallets, reducing selling pressure;
Plus, the recent strong performance of the Solana ecosystem provides natural support for BONK.
The market sentiment for BONK is currently in a heated stage, and the subsequent trend will crucially depend on whether it can successfully break through the technical resistance level of $0.000040, which may then trigger an assault on previous highs.
🏰 THE Coin: Soared 30% in 24 hours, leading the Binance rankings. 🔥
Lastly, I must also mention an unexpected dark horse—The Sandbox (THE).
On July 15, THE made a strong comeback on the Binance platform, with a 24-hour increase of over 30%, topping Binance's gainers list, currently fluctuating around $0.42.
This rise is not 'without aim'; market analysis suggests the main reasons include:
Market funds are refocusing on the Metaverse and NFT sectors;
THE, as an established project, has a mature ecosystem and is positioned to dance with hot trends;
A large number of short-term traders entering the market has caused a surge in trading volume.
However, from the current perspective, THE's rise seems more like a short-term market trend, and to continue the upward momentum, more trading volume support and trend-following buying are needed. 📌
For short-term players, THE is currently a 'hot coin' to closely watch, but operations need to pay attention to timing to avoid the risk of chasing highs.
💬 Summary: The meme wave is coming; is it an opportunity or a trap?
Seeing this, I believe you can also feel that the wave of 'meme revival' is coming.
Whether it's PEPE's technical breakout approaching, BONK's doubling performance, or THE's short-term explosion, these coins are sending a signal:
Funds are flowing back, hot spots are rotating, and speculative sentiment is rising.
However, we also need to pay attention to a few points:
Confirmation signals are crucial, such as PEPE's neck line breakout, whether BONK can hold above $0.000040, and THE's sustained trading volume;
Short-term fluctuations are intense; don't easily FOMO, and set reasonable stop-loss and take-profit points;
Diversified layout and rational operation, especially since meme coins have high volatility, heavy positions carry higher risks.
Finally, a friendly reminder: Those who make money are never the emotionally driven, but you who can maintain calm judgment. 🔥
So, are you planning to get on the meme coin 'spring' wave, or choose to watch from the sidelines?
✍️ DYOR, manage your risk well, and may everyone sail smoothly in the crypto world! 🌊
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