Solana Meme Coins BONK and WIF Extend Losses as the Sector Collapses

The meme coin sector has faced a sharp downturn, losing 10.8% in the past 24 hours and now sitting at a total market cap of $90 billion.

Solana meme coins continued to face a downturn on Monday, with WIF and BONK prices dropping significantly amid a broader decline in the meme coin sector.

Both tokens faced steep losses, with BONK prices down 40% and WIF prices dropping 52% over the past 30 days.

As of Monday morning, WIF prices stood at around $1, marking its lowest level in eight months.

Meanwhile, BONK prices faced the risk of testing key support levels as its EMA lines continued to signal a downtrend.

Both WIF and BONK prices remained under pressure, with further declines still possible as the meme coin market faced a downturn.

However, a broader resurgence in meme coins could positively impact both assets.

Solana meme coins faced a sharp decline on Monday, with all nine of the chain’s top nine biggest tokens recording losses over the past day and the last seven days.

This downturn contributed to a broader decline in the meme coin sector, with the total market cap decreasing by 10.8% over the past 24 hours, now sitting at $90 billion.

Among the hardest-hit tokens were BONK and WIF, with both tokens facing significant losses over the past 30 days.

BONK prices were down by 40% over this period, while WIF prices dropped by 52% over the same timeframe.

Despite their recent losses, both coins remained among the largest meme coins on Solana.

BONK held the second position with a market cap of approximately $1.6 billion, while WIF followed closely at $1 billion.

However, since its launch, TRUMP surpassed both to become the leading Solana meme coin.

WIF prices faced further challenges on Monday, continuing a downtrend that began in early March.

After failing to break the $1.37 resistance, WIF prices dropped to around $1, marking its lowest levels in months.

EMA lines also signaled a bearish trend, indicating strong bearish momentum.

If this trend continues, WIF could test the $0.97 support, and a breakdown could push it below $0.90.

However, if there is a broader recovery in meme coins, especially within the Solana ecosystem, WIF price could regain momentum.

If buying pressure builds, WIF could first test $1.22, with a breakout leading to $1.37.

If that resistance is cleared, WIF could rally to $1.64 or even $1.99, a potential 91% gain.

BONK EMA lines signaled a continuing downtrend on Monday, with short-term lines trading below long-term ones.

If this trend persists, BONK could test $0.0000199 soon, and a breakdown could send it as low as $0.000017, its lowest levels since early November 2024.

A reversal could see BONK price challenging the $0.0000225 resistance, with a breakout leading to $0.000028.

If bullish momentum strengthens, BONK could climb to $0.0000398, indicating a strong recovery.