Meme Coin Watch: BONK Shows Strength While Others Cool Off

Meme coins are taking center stage this week after a wild period of trading. While two major tokens saw massive rallies followed by sharp pullbacks, BONK remains the standout performer. It recently broke through a long standing downtrend, suggesting it may have more room to run.

BONK currently trades near $0.0000035. It has successfully tested its support level at $0.00000273 and is now eyeing resistance at $0.00000375. If it clears that, the next big target for the bulls sits near $0.00000485. The token shows healthy momentum as its RSI continues to rise.

In contrast, USELESS and MARSCOIN are seeing significant pressure. USELESS recently surged 373 percent before hitting a wall, and it is now facing a steep drop toward its support zones. With current prices sitting well above key moving averages, traders are watching closely to see if these coins can find a floor or if further declines are ahead.

For investors, the risk level is currently tied to how far each coin is from its support. While BONK looks stable, the deep gaps below USELESS and MARSCOIN suggest traders should remain cautious. Keep an eye on these volume trends and RSI levels as the second week of September unfolds.