Cryptocurrencies could not recover from the decline that started on Friday, and the short-term trend direction will be determined in the next 24 hours. The likelihood of a rate cut before December has significantly weakened. The scenario is moving towards the possibility that even a 50bp cut may not happen, despite the Fed‘s 75bp cut prediction. The May inflation data will be a critical trigger. So, which among BONK, PEPE, DOGE, and BOME Coin might be attractive for buying during the decline?
BONK Price Prediction
The BONK Coin price, which turned down from the $0.0000292 resistance, is now about to return to the $0.0000218 base. The popular meme coin was also moving significantly in sync with the Solana (SOL) price. This relaxation means more weakness for BONK Coin. If there is no bounce from the base support, the decline could continue to $0.0000138. For now, it is risky due to the possibility of breaking the short-term uptrend downwards. Investors advancing with stops at the first support could profit from a possible bounce from the support.
PEPE Coin Commentary
The popular altcoin that maintains the $0.0000118 support still has the potential to test the ATH level. If the bounce here grows with developments in the coming hours, the $0.0000147 region can be reclaimed with closures above $0.0000130. The outlook here is more optimistic compared to BONK Coin.
DOGE Price Prediction
DOGE bulls struggled to maintain $0.153, but this region was lost. Now the Dogecoin (DOGE) price is likely to make new lows at $0.124 and $0.116. Below this, the gradual decline could continue to the $0.0837 threshold where the rise began.
BOME Coin Price Commentary
For BOME Coin, which fell below the $0.0103 support, we can say that new lows are now open. Even though we saw a spike close to $0.0095, it is difficult to prevent bears eager for the lowest levels after the Binance listing. In the scenario where sales continue, the Binance ATL level of $0.00816 and the $0.00729 range can be reached.
At the time of writing, GBTC reported a net outflow of around $120 million. If the panic in the ETF channel is strong and the inflation data is also bad, bears might start celebrating.
