Should You Buy Solana Dip Or PEPE, Dogwifhat Meme Coins?

On Monday, the crypto market experienced another wave of selling pressure, with Bitcoin falling below $60,000, a nearly 5% decline. The altcoin market mirrors this momentum with significant assets experiencing drops: Ethereum by 5.4% to $3232, Binance coin by 3.3% to $555, while Solana exhibited a modest 0.1% loss to $127.

Digital asset investment products have seen a second consecutive week of net outflows, amounting to $584 million. This has led to a total reduction of $1.2 billion in assets under management. Ethereum (ETH) experienced significant outflows totaling $58 million, according to data shared by the Satoshi Club.

Despite this trend, Solana (SOL), Litecoin (LTC), and Polygon (MATIC) registered inflows of $2.7 million, $1.3 million, and $1 million, respectively. The market's mixed investment landscape is highlighted by this occurrence, indicating a lack of dominant direction.

In the midst of the extended correction, three cryptocurrencies present themselves as suitable dip opportunities for sidelined buyers:

Solana

Solana is a high-performance blockchain recognized for its rapid transaction speeds and low costs, making it suitable for decentralized applications (dApps) and crypto projects. Over the past three months, Solana's price has traded sideways within a triangle pattern, consolidating between converging trend lines.

Currently trading at $126, Solana is seeking support at the lower trendline of the triangle. Historically, the lower trendline has bolstered buyers, potentially leading to a rebound towards the higher trendline. This could yield a potential gain of 32% to reach $170. However, a breakout beyond the triangle range is crucial to trigger an uptrend.

Pepe Coin

Pepe Coin, a meme-inspired cryptocurrency, gained popularity due to its association with the internet meme character Pepe the Frog. After correcting from $0.0000172 in late May, the asset has dropped 38% to its current price of $0.0000107.

The price decline has formed a flag pattern within parallel trend lines. Typically, this pattern indicates a temporary pullback before bullish momentum is restored. A breakout from the overhead trendline could signal continued uptrend potential, with a sustained buying pressure targeting the $0.000045 mark.

Dogwifhat Coin

Dogwifhat Coin is currently in an oversold region, suggesting a potential reversal. The asset could experience a rebound as buyers enter the market to take advantage of the discounted prices.