Three Meme Coins on the Radar for September’s Second Week

Of the three meme coins being tracked, two gained over 370% in the period since Aug. 31, only to give much of that back in a sharp Sunday reversal. Bonk (BONK) stood apart, ending the session higher and close to its latest peaks.

The three positions currently have widely varied distances to their nearest support. How much room each one has to fall, not how much it had risen, is what sets the risk for the week ahead.

Bonk Clears Its Descending Trendline

Bonk managed to climb above the falling trendline that had held it in check since the May 11 peak near $0.00000800. That breakout, which took place on Aug. 21, was accompanied by the strongest trading volume in five months.

Following the breakout, BONK secured $0.00000273 as a support zone after another test at the start of September. The current price of roughly $0.0000035 marks a 5.59% advance over the past day, and the market capitalization is $308 million.

The closest barrier is the Aug. 21 swing high of about $0.00000375, with the next one at $0.00000400. Beyond that, $0.00000485 corresponds to the downward-sloping 200-day moving average near $0.00000490, approximately 38% above current levels.

The RSI, at 67, is still moving upward. Still, on the higher timeframe BONK is producing lower highs, so that pattern will last until $0.00000485 is taken out.

Useless Coin Meets Resistance Following 373% Surge

From a low of about $0.0668 on Aug. 31, Useless Coin (USELESS) shot up 373% to hit $0.316 by Sept. 5. The rally ground to a halt when it reached the $0.262–$0.278 resistance area.

USELESS is now priced at about $0.2225, representing a 24.43% drop in the last 24 hours. Its market cap totals $222 million.

The worry is how far the downside extends. The 21-day exponential moving average is positioned at $0.1231, roughly 45% below the current price, and the support shelf from $0.093 to $0.100 sits about 55% lower. Sandwiched in between is just the $0.20 handle.

During June and July, that shelf had served as a ceiling for USELESS until the rally recaptured it. In the meantime, the RSI, now at 74.2, has started to turn toward its signal line.

MarsCoin Carries the Most Risk Among the Three

Of the three, MarsCoin (MARSCOIN) is the least seasoned, having traded for only about five weeks dating back to late July. It ran up roughly 745% between $0.030 on Aug. 21 and its Sept. 6 high of $0.253.

The token was then pushed back from the $0.240–$0.248 band and finished that session at $0.1832, a loss of 23.76% on the day.

MARSCOIN has the largest distance to support among the three meme coins. Its 21-day EMA stands near $0.092, about 50% under the market, and the $0.060–$0.066 zone is roughly 67% farther down.

The highest volume arrived on Sept. 4 and has been fading since. Even so, the RSI has only fallen to 71 from 78, and no bearish divergence has emerged.