Crypto Price Prediction as Meme Coins Shed $10B Ahead of Monthly Close, What’s Next?

Crypto prices are down today, May 30, in one of the worst intraday declines this month. This dip has led to meme coins shedding more than $10 billion in market cap, with Pepe Coin (PEPE) and Fartcoin (FARTCOIN) recording some of the biggest losses. Considering the typical volatility that often rocks the crypto market during most monthly closes, what’s the crypto price prediction for top meme coins?

Meme Coin Market Cap Sheds $10B

The total meme coin market cap is down by more than $10 billion in the last seven days, with this metric dropping from $74 billion to $64 billion during this time. This valuation currently stands at its lowest level since May 9.

This price decline in top-performing meme coins in May coincides with the bearish crypto price prediction during the first and the last week of each month. For instance, during the April monthly close, the meme coin market cap dropped from $52 billion to $57 billion during the monthly close. An even steeper crash of $16 billion was seen between late March and early April.

Besides following historical patterns, Pepe Coin, Fartcoin, and other meme coin prices are shedding their gains due to a shift in the market sentiment. The Fear and Greed Index has declined from 74 to 69 in one day, and it is now at the lowest point in more than three weeks.

Nevertheless, the ongoing decline is not unique to meme coins only, as the broader crypto market is also crashing. As Coingape reported, over 217,000 traders have been liquidated in the last 24 hours, with the total liquidations surpassing $700 million.

Crypto Price Prediction – What’s Next for PEPE and FARTCOIN Price?

As the crypto price prediction for most meme coins flips bearish, PEPE and FARTCOIN are standing out with some of the biggest losses in the last 24 hours. At press time, PEPE price was down by 9% while FARTCOIN price had shed 10% of its value.

PEPE Price Forecast Amid Bearish Headwinds

Pepe Coin price trades at $0.000013 today, but bearish headwinds may intensify as technical indicators turn negative. The Chaikin Money Flow has crossed over to the negative region, indicating that selling pressure is currently dominating the market. A similar scenario is seen with the AO histogram bars, whose shrinking size shows that the bullish momentum is losing strength.

Despite this bearish Pepe Coin price outlook, popular trader James Wynn believes that the crypto token’s price may recover. Wynn, famed for making over $87M in profits from popular coins, has opened a 10x long leverage position on PEPE, indicating he anticipates the price to rally higher.

FARTCOIN Forms Rising Wedge Pattern

The price prediction for the FARTCOIN crypto token is also bearish as the Solana-based meme coin trades within a rising wedge pattern. This pattern usually indicates that the price is on the verge of a bearish reversal. The RSI has also crashed to 42, indicating that the current momentum is bearish. If buyers fail to step in now, the FARTCOIN price may crash to $0.44 from its current price of $1.11.

Summary of Crypto Price Prediction

The price prediction for most crypto tokens, including meme coins, is bearish today as the market sentiment tanks to its lowest level in three weeks. Amid the widespread market crash, PEPE and FARTCOIN are standing out with the biggest price declines. Technical indicators suggest the two meme coins may continue to decline before making a recovery.