The memecoin market has experienced a significant correction in valuation, indicating a growing disinterest from investors. The top 5 meme coins have seen a massive correction of over 25% each in the past week.

As the market approaches the Bitcoin Halving event, there are concerns about a potential bearish end to April for the cryptocurrency industry. The question remains whether memecoins will see another surge post-halving.

Pepecoin (PEPE)

PEPE coin had a neutral start to the year but saw a price jump of over 500% as meme coin hype increased. However, the price stalled around the resistance of $0.000010 and has since been on a bearish trend. Recent data shows an 8% correction in the last 24 hours, with a 32.59% decrease in the past week.

Technical analysis indicates a bearish influence, with the EMAs showing a downward trend and the MACD histogram in the red. If the market maintains PEPE above a support level, a potential test of $0.00000785 is possible; otherwise, a reversal could push the price to $0.00000400.

dogwifhat (WIF)

The WIF token gained attention after its launch, with a price surge of over 2,500% and an all-time high of $4.85. However, it has since faced a negative trend, losing over 50% in value. Recent data shows a 5.06% drop in the last 24 hours and a 33.89% decrease in the past week.

Analysis also reveals a bearish sentiment, with the MACD and SMA pointing towards further price declines. Support at $2.09 may be tested if bears maintain control, but a bullish reversal could see the price testing resistance at $3.90 in the near future.