It has been another eventful day in the meme coin market.

Dogwifhat (WIF) and Bonk (BONK) have experienced a slowdown in their recent surges as traders have chosen to secure profits.

Meanwhile, all eyes are on the new seal-themed token Sealana (SEAL) as it surpasses the $3 million mark in its presale phase.

WIF Pauses Momentum, But Is the Bullish Trend Ending?

The excitement surrounding meme coins has eased as WIF, which was highly anticipated, slowed down its upward momentum.

After a significant surge in the past week, WIF faced selling pressure, declining over 5% from its peak yesterday to $3.25.

This decline erased a considerable portion of WIF's gains and pushed it below the 20-day exponential moving average (EMA) on the hourly chart, indicating a possible end to the uptrend.

Moreover, the price drop coincided with WIF encountering a strong resistance zone that previously restricted its movement in early May.

However, despite the decline, WIF's liquidity remains robust, with spot trading volumes soaring by 142% over the past day to $1.1 billion, suggesting that this pullback might just be a temporary pause before another upward move.

BONK Cools Off Following Last Week's Rapid Rise

BONK, like WIF, is also taking a breather after its recent surge.

Trading at $0.0000379, BONK has dipped over 5% from yesterday's high.

While the token had been approaching its all-time high, it has now retraced from those levels.

Similar to WIF, BONK witnessed a sharp rally over the past seven days, posting gains of 55%.

However, BONK's price is still holding firm near its 20-day EMA on the 4-hour chart, a level that has historically provided support, potentially setting the stage for another upward movement.

Additionally, spot volumes remain exceptionally high at $933 million over the past 24 hours, suggesting significant liquidity that could fuel a strong recovery.

Overall, the recent pullbacks in both WIF and BONK may simply be healthy corrections following their rapid climbs.

Could Sealana Emerge as the Next Major Meme Coin on Solana After Raising $3M in Presale?

While established meme coins take a breather, Sealana, a project in its presale phase, continues to gain attention.

Sealana is a meme coin purely driven by speculation, with no real-world use case, but this strategy has been successful thus far.

In just one month, SEAL has raised $3 million in presale funding from traders eager to get in early at a price of $0.022 per SEAL.

With plans to raise further awareness before listing on a DEX, there is anticipation for a surge in SEAL's price once it becomes available for trading.

Renowned influencers, including YouTuber My Financial Friend, have endorsed SEAL, sparking excitement within Sealana's Telegram community, which has grown to over 6,300 members.

Given the substantial presale funding and favorable market conditions, many believe Sealana has the potential to become Solana's next prominent meme coin.