The wallet linked to the developer sold $1.27 million worth of Zerebro tokens. Fartcoin has struggled to receive important support after a recent gathering. The technical chart suggests there is likely to be more swings across the token.
The Meme Coin Market is gaining volatility as projects like Zerebro, Fartcoin and Lofi all move sharply in the opposite direction.
Zerebro (Zerebro) plunged more than 22% this week after developer Jeffy Yu's series of developments, including gradual death hoaxes and massive token dumps.
Meanwhile, Fartcoin has undergone an amendment after temporarily touching on its $1 billion market capitalization.
In contrast, Lofi has emerged as a breakout performer in the SUI ecosystem, gaining substantial investor traction, rising over 321% over the past 30 days.
The fork reflects the increasing speculation and risk across the meme coin trading desk.
Zerebro Developer Hoax Trigger $1.27 million token dump
Released in November 2024 with a supply of up to 1 billion tokens, Zerebro (Zerebro) has fallen in its value after a controversial episode involving its creator.
A token named $lljeffy was introduced on May 4th, accompanied by a blog post from developer Jeffy Yu.
A few days later, a fake obituary was posted to Legacy.com, both Jeffy's and Zerebro's official X accounts were removed, promoting rumors of his death.
The situation escalated when Daniele Cesta, the code form, publicly claimed that Yu was alive and later presented evidence. Jeffy then confirmed that he fakes his death in an attempt to escape the rise in online harassment.
In particular, LookonChain's on-chain data revealed that the wallet connected to YU sold 3,555 million Zerebro tokens.
Zerebro's price fell to around $0.035 as it approaches a potential death cross on the tech chart.
If you fall below the $0.025 support, you could send it to $0.0189.
Source: CoinMarketCap
However, if emotions improve, the token will try again with resistance at $0.041, potentially reaching $0.054 or $0.066.
Fartcoin loses steam after reaching a billion dollar valuation
Once a trending meme coin, Fartcoin is now under pressure.
After reaching a peak valuation of $1 billion, the token entered the revision phase.
Although it still holds a significant market capitalization, prices have returned to major technical levels.
If current losses continue, Fartcoin could drop to support at $0.944.
This level of violation could further decrease to $0.797 or $0.717.
Conversely, recovery could target resistance for $1.06, and could open the door to $1.20 or $1.28.
Source: CoinMarketCap
The decline coincides with a decline in social media mentions and a decline in meme trading volume, suggesting lower enthusiasm compared to its peak.
Lofi rises 321% and 321% over 30 days
Released in December 2024, Lofi appeared as a top performer within the SUI Meme Coin ecosystem.
With a cycle of 1 billion tokens and a maximum supply, Lofi currently holds a market capitalization of $31.95 million.
It recorded a 13% increase in the last 24 hours, and an increase of 321% over the last month.
Source: CoinMarketCap
The token price is currently approaching resistance at $0.042. If uptrends are kept, Lofi could rallies at $0.0546.
On the downside, support is $0.025, and breaks below this level can cause fixes to $0.0228.
Lofi's rapid rise is positioned as a major competitor within the SUI ecosystem.
Momentum suggests that traders are spinning capital into new meme coins with perceived growth potential.
Market sentiment remains mixed in amid rising volatility
The diverse performances of Zerebro, Fartcoin, and Lofi reflect the broader theme of unpredictability in the meme coin space.
Developer dramas can erode investor trust as seen in Zerebro, but as in Lofi's case, strong technical momentum and ecological hype can draw a significant amount of capital.
Memecoin continues to be one of the most volatile segments of the crypto market as retailers and speculators continue to pursue high-risk, high-reward tokens.
Short-term sentiment, community involvement and social media narratives continue to have disproportionate influences on prices.
