Meme coins had a mixed day as their cumulative value remained unchanged at $57.48 billion. The coins that noted green were led by Banana For Scale, a BNB meme coin which registered a 27% rise.
BeInCrypto has analyzed two other meme coins for investors to watch as they attempt recovery.
SPX6900 (SPX)
- Launch Date – August 2023
- Total Circulating Supply – 930.99 Million SPX
- Maximum Supply – 1 Billion SPX
- Fully Diluted Valuation (FDV) – $1.26 Billion
- Contract Address – 0xe0f63a424a4439cbe457d80e4f4b51ad25b2c56c
SPX remains one of the best-performing meme coins, surging by nearly 12% to $1.36. Currently facing resistance at $1.42, the coin has shown strong price movement. If it can break through this level, SPX is poised to continue its upward trend, attracting more investors to the asset.
The Parabolic SAR indicator below the candlesticks suggests a strong uptrend for SPX. This technical signal points toward the potential for the price to break through $1.42, flipping it into support. With continued momentum, SPX could rise to $1.55, marking a key resistance level on the way to further gains.
SPX Price Analysis. Source: TradingView
However, if SPX fails to breach the $1.42 resistance level, it could face increased selling pressure. This would likely result in a decline back to $1.25 or lower, invalidating the current bullish outlook. A failure to break key resistance levels may lead to further bearish market sentiment.
BUILDon (B)
- Launch Date – May 2025
- Total Circulating Supply – 1 Billion B
- Maximum Supply – 1 Billion B
- Fully Diluted Valuation (FDV) – $365.78Million
- Contract Address – 0x6bdcce4a559076e37755a78ce0c06214e59e4444
BUILDon has seen a 7.2% rise today, signaling bullish momentum despite not being the highest performer. The meme coin is now encountering resistance at $0.364. Securing this level as support is crucial for continued price gains, helping BUILDon solidify its recent upward movement in the market.
BUILDon benefits from a strong correlation with Bitcoin, with a correlation coefficient of 0.62. This connection suggests that BUILDon could rise as BTC does, supporting a potential price increase. Flipping the $0.364 resistance into support could propel BUILDon toward $0.413, marking a recovery from recent losses and reinforcing positive sentiment.
BUILDon Price Analysis. Source: TradingView
However, if broader market cues fail to stay bullish, a reversal at $0.364 could lead to a drop in BUILDon’s price. Falling below this resistance would open the door for a decline to $0.310, invalidating the current bullish outlook and signaling possible further losses.
Small Cap Corner – Banana For Scale (BANANAS31)
- Launch Date – November 2024
- Total Circulating Supply – 10 Billion BANANAS31
- Maximum Supply – 10 Billion BANANAS31
- Fully Diluted Valuation (FDV) – $155.33 Million
- Contract Address – 0x3d4f0513e8a29669b960f9dbca61861548a9a760
BANANAS31 has surged by 27% over the last 24 hours, reaching a new all-time high of $0.0167. The BNB meme coin bounced off the $0.0120 support level to achieve its current price. This strong performance highlights increased interest and confidence in the altcoin despite market volatility.
With 124,000 holders backing BANANAS31, the meme coin has strong support that could propel its price further. The community’s backing is crucial for the token’s growth, and if the momentum continues, it could push BANANAS31 toward $0.0180. The ongoing bullish sentiment suggests the potential for continued price gains.
BANANAS31 Price Analysis. Source: TradingView
However, if investors begin to sell in large volumes, BANANAS31 may face a downturn. A fall through the $0.0120 support would signal further weakness, potentially driving the price down to $0.0078. This would invalidate the current bullish outlook and erase recent gains, indicating a shift in market sentiment.
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