• PEPE and BONK look to be defying this outlook with notable good points up to now 24 hours.
• Revered crypto analyst Michael van de Poppe believes a crypto bounce is probably going amid a number of macroeconomic occasions this week.

Pepe (PEPE) and Bonk (BONK) are main high meme coin gainers in the present day as Dogecoin and Shiba Inu wrestle alongside the broader crypto market.

Bitcoin’s sharp declines on Tuesday, coupled with bleeding for Ethereum, Solana and different altcoins, noticed the sell-off stress cascade into memecoins.

Analyst on crypto market outlook

In line with crypto analyst Michael van de Poppe, whereas BTC and altcoins have struggled with draw back stress, a “bottom could be in” amid a number of macroeconomic occasions lined up for this week.

It contains the anticipated CPI launch, FOMC assembly and the Federal Reserve’s rate of interest resolution. These are occasions that might have a notable influence on the broader market.

“The markets have been correcting down as the anticipation of these events usually has a negative relationship with the price action on the crypto markets, especially altcoins. On top of that, Roaring Kitty’s event and GameStop’s correction of last week didn’t have a positive impact on the price action,” he posted on X.

Van de Poppe says a bullish flip is probably going given earlier market reactions to FOMC conferences.

Pepe price

PEPE traded to lows of $0.00001163 on June 11, hitting the extent amid draw back stress throughout the market.

Whereas the price of Pepe stays under a downtrend line shaped after the rejection from round $0.000017 in late Might, in the present day’s bounce sees it commerce close to $0.000013.

This price stage has Pepe up 8% up to now 24 hours after paring a few of the early good points amid intense volatility throughout the meme coin market.

Nonetheless, PEPE seems to be poised for extra upside motion if consumers maintain the help space.

Bonk price

Bonk (BONK) is the primary Solana-based dog-themed memecoin, which went parabolic in late 2023 to assist Solana break above the $200 stage.

In current months, this token has lagged newly launched counterparts comparable to dogwifhat (WIF). Nonetheless, Bonk stays a high meme coin on Solana and is presently hovering alongside GME.

Value of Bonk is presently at $0.00002872, up 6% up to now 24 hours. BONK soared to an all-time excessive of $0.00004547 in March this yr.

Whereas down 17% this previous week, in the present day’s bounce may spark a brand new surge.