The memecoin recovery is underway with some of the assets leading the charge. It remains to be seen if others will recover soon.were not spared from the downturn. However, in the last 24 hours, Pepe and Bonk have outpaced the market, leading the memecoin recovery., which has the largest market cap among memecoins, declined by over 15% over the previous seven days and nearly 1% in the last 24 hours.Despite this short-term uptick, they remain in the red over a longer time frame.
The chart indicated that the memecoin’s value rose by over 5%, trading at around $0.00001137. As of this writing, it has increased again by almost 3%, now trading at around $0.0000131.Also, the recent climbs have pushed it into a bull trend. An analysis of its Relative Strength Index indicated that it had crossed slightly above the neutral line, signifying a weak bull trend as of this writing.
As of this writing, Bonk was trading with an almost 6% increase. The chart indicated that it was close to climbing above its yellow line, which has served as resistance until now.An analysis of Bonk’s Relative Strength Index showed that it was currently below the neutral line. However, as of this writing, it was approaching the neutral line, indicating that the bear trend was weakening.Adewale is a full-time journalist at AMBCrypto.