Top 3 Memecoins on the Bonk.fun ecosystem worth noting this week

The memecoin market has witnessed a steady revival over the past few weeks. Since June 23, the total market capitalization of memecoins has bounced back by more than 13%, reflecting gradual growth.

Bonk.Fun, a Solana-based platform that allows anyone to create and trade meme tokens, is at the center of the recent price surge.

Some memecoins in its ecosystem have recorded significant increases over the past week, making them noteworthy projects in the near future.

Useless Coin (USELESS)

The metrics from the one-day chart of USELESS/USD show that the memecoin has reached a new peak since June 5. Currently trading around $0.281, the price of USELESS has skyrocketed more than 700% in the past month.

Chaikin Money Flow (CMF) of the token is trending upwards, confirming that the price increase of USELESS is supported by strong buying pressure. This momentum indicator, which measures the flow of capital into and out of an asset, is at 0.13 and is trending upwards.

The CMF index at a positive level indicates strong upward pressure in the market. If buying activity continues, USELESS may return to its previous ATH at $0.305.

Analysis of USELESS price | Source: TradingViewOn the other hand, if profit-taking activity surges, the price of this token could slide back to $0.234.

HOSICO

HOSICO is another memecoin from the BONK ecosystem to watch out for this week. This project has surged over 100% in the past week and is currently trading around $0.060.

Despite the overall market downturn, HOSICO has recorded nearly 5% growth in the past 24 hours. This memecoin has established a new ATH at $0.069 during yesterday's trading session.

As of now, the daily trading volume of HOSICO has increased by 30% to 12 million USD. When the price and trading volume of an asset spike simultaneously, it signals strong market interest and heightened trading activity. The price increase along with large volume indicates that the upward trend is supported by genuine demand.

This combination is a sign reflecting the strength of the HOSICO market and could drive the price of memecoin to a new peak in the near future. If investors continue to accumulate, the price of HOSICO may surge and set a new ATH.

HOSICO price analysis | Source: TradingViewHowever, if demand decreases, HOSICO could drop to $0.055.

Let’s BONK (LetsBONK)

LetsBONK has increased by over 300% in the past 7 days, making it one of the most notable memecoins in the BONK ecosystem. The token has also surged by more than 70% in just the past 24 hours and is currently trading around $0.17.

The Aroon Up line of the token is currently at 100%. This means that its upward trend is very strong and not driven by speculative trading.

The Aroon indicator of an asset measures the strength and direction of a trend by tracking the highest and lowest prices over a specified period. It consists of two lines: Aroon Up, which measures upward momentum, and Aroon Down, which tracks downward pressure.

In the case of LetsBONK, when the Aroon Up line is at 100, the token has recently reached a new peak, signaling strong upward momentum. If demand continues to rise, the price of LetsBONK may continue its upward trend and aim for new highs.

Conversely, the price of the token could slide back to the $0.084 region if demand decreases.

Vincent