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Market Watch: Meme Coins Slow Down Buying as Bitcoin Creates New Lower High After Bounce

2025-06-30 11:45:14

Market Watch: Meme Coins Slow Down Buying as Bitcoin Creates New Lower High After Bounce

Main Idea

Despite recent drops in Bitcoin's price, some meme coins like Pengu and Fartcoins are maintaining weekly gains, while Doge shows slower recovery. The market drop was triggered by Bitcoin's price rejection under $109k and its corrective pattern after reaching a new all-time high.

Key Points

1. Bitcoin's price dropped after being rejected under $109k, leading to a market correction.

2. Pengu and Fartcoins are holding weekly gains well, while Doge is recovering more slowly.

3. Bitcoin's corrective pattern after its May all-time high suggests another potential sell point.

4. Meme coins may face significant losses if Bitcoin's downward trend continues.

5. Despite market drops, Doge and some major meme coins are still up weekly, with Solana-based tokens like WIF and Pepe showing gains.

Description

Despite today’s drops in Bitcoin’s price, Pengu and Fartcoins are still holding weekly gains well, while Doge slowly draws back. Compared to the past few days of recovery from their recent lows, major meme coins have cooled off on buying today and are now trading with minor gains over the past few hours. This came as a result of recent Bitcoin’s price rejection under $109k. Some low-cap altcoins are following suit at the time of writing. Reactions to the slight drop have positioned most meme coi...

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Crypto News