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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.
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.
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.
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.